Remodeled Duplex with Fenced
For Sale
$639,900
139 TOWER Street, Westerly, RI 02891
Two residential units offer updated interiors, porch areas, and finished basement space with a bathroom.
Property Size3,011 SF
Price / SF$212.52
Days on Market50
Property Features for 139 TOWER Street
General Information
Standard status
Active
Size
3,011 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Amenities
front porch
back porches
large fenced back yard
finished basement with bathroom
Building Details
Year Built
1890
Listing Agency:
Noel Realty Company
(401) 728-5100
Listed By:
Betsey DaSilva · License #RES.0035713
Source:
Lockandkeyre
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 5 at 7:10PM
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 Noel Realty Company
Investment Insights
Based on property information with market context.
This 3,011 SF duplex, built in 1890, contains two residential units with remodeled interiors. The first-floor unit has three bedrooms, while the second-floor unit provides four bedrooms. Finished basement space includes a bathroom, adding usable area beyond the main living levels.
Outdoor features include a front porch, rear porches, and a large fenced backyard. Parking accommodates 10 cars or more. The property is in Westerly, Rhode Island, near local beaches and the Connecticut state line, with access to area amenities.
Outdoor features include a front porch, rear porches, and a large fenced backyard. Parking accommodates 10 cars or more. The property is in Westerly, Rhode Island, near local beaches and the Connecticut state line, with access to area amenities.
Key Highlights
- Two‑unit duplex with remodeled interiors throughout
- First‑floor unit has 3 bedrooms; second‑floor unit has 4 bedrooms
- 3,011 SF property built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,319
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,380
$726.4K
Cap Rate 7%
$518,843
$518.8K
Cap Rate 9%
$403,544
$403.5K
Market Conditions
NOI Build-Up for 3,011 SF
Gross rent
$54.2K $18.00/SF
− Vacancy
−$2.3K −$0.77/SF
EGI
$51.9K $17.23/SF
− OpEx
−$15.6K −$5.17/SF
NOI
$36.3K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,380
Cap Rate 7%
$518,843
Cap Rate 9%
$403,544
Alternative Uses
Best Use
Multifamily LT 5
$518.8K
$454.0K – $605.3K
NOI $36,319 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$452.8K
$396.2K – $528.2K
NOI $31,694 @ 7.0% cap · market cap 4.95%
Theoretical Best
Healthcare Medical
$601.6K
$526.4K – $701.9K
NOI $42,112 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
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Business Placement
Demographics for 02891, RI
21,803
Population
12,660
Households
1.7
Avg Household Size
50
Median Age
41%
College-Educated
94%
High-School Grad
26.3 sq mi
ZIP Area
829
Density / Sq Mi
$90,435
Median Household Income
$49,448
Median Earnings
$1,249
Median Rent
$422,600
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 residential units offer updated interiors, porch areas, and finished basement space with a bathroom.
Where is this duplex located?
The property is located at 139 TOWER Street Westerly, RI.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Two‑unit duplex with remodeled interiors throughout; First‑floor unit has 3 bedrooms; second‑floor unit has 4 bedrooms; 3,011 SF property built in 1890
