2-Unit Duplex with
For Sale
$565,000
135 Marlborough Street, East Greenwich, RI 02818
Two separate residences combine updated mechanical systems with distinct layouts and outdoor features.
Property Size1,644 SF
Price / SF$343.67
Days on Market10
Property Features for 135 Marlborough Street
General Information
Standard status
Active
Size
1,644 SF
Total Parking Spaces
2
Property subtype
MultiFamily
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
shared yard
Building Details
Year Built
1850
Listing Agency:
RE/MAX Professionals
(401) 884-6050
Listed By:
Dean Benjamin · License #REB.0016536
(401) 965-0225
Source:
Lockandkeyre
Added: Oct 16
Changed: Oct 25
Last Checked: Oct 24 at 6:23PM
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 RE/MAX Professionals
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Investment Insights
Based on property information with market context.
Built in 1850, this duplex contains two two-bedroom, one-bathroom residences. The first-floor unit has high ceilings, a double parlor, an updated kitchen, and in-unit laundry. Upstairs, an open-plan layout and hardwood floors lead to a spacious deck. Both units have updated forced-air systems and hot water tanks, along with separate 100-amp electrical service. Lead certificates are in place, and the property includes a two-car garage and a shared rear yard.
The property is one block from Main Street shops, restaurants, and parks in East Greenwich. Off-street parking is available at the garage.
The property is one block from Main Street shops, restaurants, and parks in East Greenwich. Off-street parking is available at the garage.
Key Highlights
- Two two‑bedroom, one‑bathroom units
- Two‑car garage and off‑street parking
- Separate 100‑amp electrical service for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,887
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,740
$477.7K
Cap Rate 7%
$341,243
$341.2K
Cap Rate 9%
$265,411
$265.4K
Market Conditions
NOI Build-Up for 1,644 SF
Gross rent
$36.5K $22.20/SF
− Vacancy
−$2.4K −$1.44/SF
EGI
$34.1K $20.76/SF
− OpEx
−$10.2K −$6.23/SF
NOI
$23.9K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,740
Cap Rate 7%
$341,243
Cap Rate 9%
$265,411
Alternative Uses
Best Use
Multifamily LT 5
$341.2K
$298.6K – $398.1K
NOI $23,887 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$313.5K
$274.3K – $365.7K
NOI $21,944 @ 7.0% cap · market cap 3.88%
Theoretical Best
Specialty Retail
$411.8K
$360.3K – $480.4K
NOI $28,823 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
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Business Placement
Demographics for 02818, RI
19,907
Population
8,623
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
939
Density / Sq Mi
$120,952
Median Household Income
$72,985
Median Earnings
$1,384
Median Rent
$564,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine updated mechanical systems with distinct layouts and outdoor features.
Where is this duplex located?
The property is located at 135 Marlborough Street East Greenwich, RI.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two two‑bedroom, one‑bathroom units; Two‑car garage and off‑street parking; Separate 100‑amp electrical service for each residence
