Side-by-Side
For Sale
$469,900
14 S Atlantic Avenue, Warwick, RI 02888
Residential Income, Warwick, RI
Property Size3,084 SF
Lot Size0.16 Acres
Price / SF$152.37
Days on Market11
Property Features for 14 S Atlantic Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Parking
4
Parking features
None
Patio and Porch features
Patio
Interior features
Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Exterior features
Screened Pch/Patio/Dck/Brzwy
Basement
Unfinished, Partial
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Subdivision
Pawtuxet Village
Lot features
Local Historic District, Paved Driveway
Standard status
Active
Size
3,084 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4723
Utilities
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Plaster, Masonry
Listing Agency:
Keller Williams Coastal · Keller Williams Realty
(401) 845-9200
Listed By:
Jeff St. Germain
(401) 226-2148
Added: Aug 25
Changed: Sep 4
Last Checked: Sep 4 at 10:06PM
MLS# 1421383
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1950, this 3,084-square-foot duplex contains two side-by-side residences, each with one bedroom, one full bathroom, and a kitchen. The property occupies 0.16 acres and includes enclosed entrance porches, separate private driveways, patios, gas water heating, natural-gas heat, and window-unit cooling. Kitchens and electrical systems in both units were updated within the past four years.
The home is positioned in Warwick’s Pawtuxet Village Historic District, within walking distance of village restaurants, shops, and the waterfront. Highways, hospitals, and T.F. Green International Airport are also accessible from the property. Public water serves the building, and construction includes plaster and masonry materials.
The home is positioned in Warwick’s Pawtuxet Village Historic District, within walking distance of village restaurants, shops, and the waterfront. Highways, hospitals, and T.F. Green International Airport are also accessible from the property. Public water serves the building, and construction includes plaster and masonry materials.
Key Highlights
- Two side‑by‑side units, each with 1 bedroom and 1 full bathroom
- 3,084 square feet on a 0.16‑acre lot
- Kitchens and electrical systems updated within the past four years
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
$41,166
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
8.76%
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%
$823,320
$823.3K
Cap Rate 7%
$588,086
$588.1K
Cap Rate 9%
$457,400
$457.4K
Market Conditions
NOI Build-Up for 3,084 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
$80.3K $26.04/SF
− Vacancy
−$5.5K −$1.77/SF
EGI
$74.8K $24.27/SF
− OpEx
−$33.7K −$10.92/SF
NOI
$41.2K $13.35/SF
Area
Kent County, RI
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$823,320
Cap Rate 7%
$588,086
Cap Rate 9%
$457,400
Alternative Uses
Best Use
Multifamily LT 5
$640.1K
$560.1K – $746.8K
NOI $44,810 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$588.1K
$514.6K – $686.1K
NOI $41,166 @ 7.0% cap · market cap 8.76%
Theoretical Best
Specialty Retail
$772.4K
$675.9K – $901.2K
NOI $54,069 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 02888, RI
19,578
Population
9,117
Households
2.1
Avg Household Size
46
Median Age
32%
College-Educated
96%
High-School Grad
5.9 sq mi
ZIP Area
3,318
Density / Sq Mi
$88,750
Median Household Income
$55,561
Median Earnings
$1,218
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units include updated kitchens and electrical systems, private driveways, and enclosed entrance porches.
Where is this duplex located?
The property is located at 14 S Atlantic Avenue Warwick, RI.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two side‑by‑side units, each with 1 bedroom and 1 full bathroom; 3,084 square feet on a 0.16‑acre lot; Kitchens and electrical systems updated within the past four years
