Corner Lot Side-by-Side
For Sale
$619,900
Pending
12 Blackstone Street, Cumberland, RI 02864
Side-by-side duplex with two 4-bedroom units, two-car garage, and private yard on a corner lot.
Property Size2,932 SF
Days on Market52
Property Features for 12 Blackstone Street
General Information
Standard status
Pending
Size
2,932 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Compass
(401) 274-1644
Listed By:
The Infinity Group · License #BK3153120
(850) 554-3142
Source:
Lockandkeyre
Added: Jul 16
Changed: Aug 8
Last Checked: Jul 24 at 1:05PM
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 Compass
Investment Insights
Based on property information with market context.
This side-by-side duplex sits on a corner lot and features two residential units. Each unit includes 4 bedrooms and 1.5 bathrooms, offering a straightforward layout for long-term occupancy. The right unit will be delivered vacant, providing flexibility for an owner-occupant or for immediate rental readiness.
The property includes a two-car garage and a private yard, adding practical storage and outdoor space. Located in Cumberland, the home is described as offering convenient access to major routes and an easy drive into Massachusetts.
As a residential income property, the two-unit configuration can support traditional owner-occupant or investor ownership, with the existing structure and unit count providing clear income potential.
The property includes a two-car garage and a private yard, adding practical storage and outdoor space. Located in Cumberland, the home is described as offering convenient access to major routes and an easy drive into Massachusetts.
As a residential income property, the two-unit configuration can support traditional owner-occupant or investor ownership, with the existing structure and unit count providing clear income potential.
Key Highlights
- Side‑by‑side duplex on a corner lot in Cumberland with two units
- Each unit has 4 bedrooms and 1.5 bathrooms
- Right unit will be delivered vacant
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
$48,819
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
7.88%
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%
$976,380
$976.4K
Cap Rate 7%
$697,414
$697.4K
Cap Rate 9%
$542,433
$542.4K
Market Conditions
NOI Build-Up for 2,932 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
$74.6K $25.44/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.7K $23.79/SF
− OpEx
−$20.9K −$7.14/SF
NOI
$48.8K $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%
$976,380
Cap Rate 7%
$697,414
Cap Rate 9%
$542,433
Alternative Uses
Best Use
Multifamily LT 5
$697.4K
$610.2K – $813.7K
NOI $48,819 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$553.5K
$484.3K – $645.8K
NOI $38,745 @ 7.0% cap · market cap 6.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side duplex with two 4-bedroom units, two-car garage, and private yard on a corner lot.
Where is this duplex located?
The property is located at 12 Blackstone Street Cumberland, RI.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Side‑by‑side duplex on a corner lot in Cumberland with two units; Each unit has 4 bedrooms and 1.5 bathrooms; Right unit will be delivered vacant
