Duplex with Barn
New
For Sale
$750,000
1128 Great Road, Lincoln, RI 02865
Two separate residences offer distinct layouts, individual laundry facilities, and substantial shared grounds.
Property Size3,840 SF
Days on Market5
Property Features for 1128 Great Road
General Information
Standard status
Active
Size
3,840 SF
Property subtype
Multi-Family
Building Details
Building Size
3,840 SF
Year Built
1953
Stories
2
Listing Agency:
Beretta Realty Company
Listed By:
Michael Glynn
Source:
Dawnmarano.kw
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 13 at 4:30AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Beretta Realty Company
Investment Insights
Based on property information with market context.
This duplex includes two separate residences with clearly differentiated layouts. The larger home spans two levels and offers four bedrooms, two full bathrooms, a living room with built-in shelving, a dedicated dining area, a patio accessed by sliders, and in-unit laundry. The second residence is arranged on one level with two bedrooms, one full bathroom, a living room with fireplace, and its own laundry area.
The property at 1128 Great Road in Lincoln, Rhode Island, occupies over 2 acres and includes a barn-style outbuilding. The expansive grounds provide substantial outdoor space, while the separate unit layouts support flexible residential use. Built in 1953, the property combines a two-family configuration with additional storage or utility space.
The property at 1128 Great Road in Lincoln, Rhode Island, occupies over 2 acres and includes a barn-style outbuilding. The expansive grounds provide substantial outdoor space, while the separate unit layouts support flexible residential use. Built in 1953, the property combines a two-family configuration with additional storage or utility space.
Key Highlights
- Two‑family property on over 2 acres
- Main residence has 4 bedrooms and 2 full bathrooms across two levels
- Second residence offers 2 bedrooms and 1 full bathroom on one level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,938
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,278,760
$1.3M
Cap Rate 7%
$913,400
$913.4K
Cap Rate 9%
$710,422
$710.4K
Market Conditions
NOI Build-Up for 3,840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$97.7K $25.44/SF
− Vacancy
−$6.3K −$1.65/SF
EGI
$91.3K $23.79/SF
− OpEx
−$27.4K −$7.14/SF
NOI
$63.9K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,278,760
Cap Rate 7%
$913,400
Cap Rate 9%
$710,422
Alternative Uses
Best Use
Multifamily LT 5
$913.4K
$799.2K – $1.07M
NOI $63,938 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$724.9K
$634.3K – $845.7K
NOI $50,744 @ 7.0% cap · market cap 6.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
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Business Placement
Demographics for 02865, RI
17,902
Population
7,079
Households
2.5
Avg Household Size
45
Median Age
48%
College-Educated
92%
High-School Grad
16.5 sq mi
ZIP Area
1,085
Density / Sq Mi
$117,042
Median Household Income
$59,949
Median Earnings
$1,206
Median Rent
$427,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer distinct layouts, individual laundry facilities, and substantial shared grounds.
Where is this duplex located?
The property is located at 1128 Great Road Lincoln, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑family property on over 2 acres; Main residence has 4 bedrooms and 2 full bathrooms across two levels; Second residence offers 2 bedrooms and 1 full bathroom on one level
