Duplex with Off-Street
For Sale
$725,000
1251 Mendon Road, Cumberland, RI 02864
Separate first- and second-floor residences provide a two-family layout.
Property Size3,576 SF
Price / SF$202.74
Days on Market39
Property Features for 1251 Mendon Road
General Information
Standard status
Active
Size
3,576 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 4BR
Multifamily Units
2
Building Details
Year Built
1940
Listing Agency:
Century 21 Limitless
(508) 726-3492
Listed By:
Kyle Seyboth · License #32535
Source:
Lavonnelopes
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 28 at 2:53PM
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 Century 21 Limitless
Investment Insights
Based on property information with market context.
This 3,576-square-foot duplex, built in 1940, contains two residential units arranged across the first and second floors. The first-floor residence offers 1 bedroom and 1 bathroom, while the upper unit includes 4 bedrooms. Both units are described as comfortable layouts with abundant natural light, and off-street parking serves residents and guests.
The property is located at 1251 Mendon Road in Cumberland, close to restaurants, grocery stores, retail centers, neighborhood businesses, schools, healthcare, and golf courses. Shopping, dining, and entertainment are available along the Diamond Hill Road and Mendon Road commercial corridors. Diamond Hill Park and Monastery Park provide nearby walking trails and year-round outdoor recreation.
Route 146, Interstate 295, and Interstate 95 offer access toward Providence, Worcester, surrounding communities, and the Massachusetts border.
The property is located at 1251 Mendon Road in Cumberland, close to restaurants, grocery stores, retail centers, neighborhood businesses, schools, healthcare, and golf courses. Shopping, dining, and entertainment are available along the Diamond Hill Road and Mendon Road commercial corridors. Diamond Hill Park and Monastery Park provide nearby walking trails and year-round outdoor recreation.
Route 146, Interstate 295, and Interstate 95 offer access toward Providence, Worcester, surrounding communities, and the Massachusetts border.
Key Highlights
- Two‑family duplex with 3,576 square feet of building area
- First‑floor unit includes 1 bedroom and 1 bathroom
- Second‑floor unit offers 4 bedrooms
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
$59,542
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
8.21%
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%
$1,190,840
$1.2M
Cap Rate 7%
$850,600
$850.6K
Cap Rate 9%
$661,578
$661.6K
Market Conditions
NOI Build-Up for 3,576 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
$91.0K $25.44/SF
− Vacancy
−$5.9K −$1.65/SF
EGI
$85.1K $23.79/SF
− OpEx
−$25.5K −$7.14/SF
NOI
$59.5K $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%
$1,190,840
Cap Rate 7%
$850,600
Cap Rate 9%
$661,578
Alternative Uses
Best Use
Multifamily LT 5
$850.6K
$744.3K – $992.4K
NOI $59,542 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$675.1K
$590.7K – $787.6K
NOI $47,255 @ 7.0% cap · market cap 6.52%
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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
302
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 - Separate first- and second-floor residences provide a two-family layout.
Where is this duplex located?
The property is located at 1251 Mendon Road Cumberland, RI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑family duplex with 3,576 square feet of building area; First‑floor unit includes 1 bedroom and 1 bathroom; Second‑floor unit offers 4 bedrooms
