Side-by-Side
New
For Sale
$469,900
14 South Atlantic Ave, Warwick, RI 02888
Two residential units offer updated kitchens, electrical systems, enclosed porches, and separate private driveways.
Property Size3,084 SF
Price / SF$152.37
Days on Market6
Property Features for 14 South Atlantic Ave
General Information
Standard status
Active
Size
3,084 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
enclosed entrance porches
Building Details
Year Built
1950
Listing Agency:
Keller Williams Coastal
Listed By:
Jeff St. Germain
Source:
Alpernandmesenbourg
Added: Sep 5
Last Checked: Sep 9 at 8:41PM
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 Keller Williams Coastal
Investment Insights
Based on property information with market context.
Located at 14 South Atlantic Avenue in Warwick, this 1950 duplex contains two side-by-side residential units, each with one bedroom, one full bath, and a kitchen. Both units also include enclosed entrance porches and separate private driveways. Kitchen and electrical updates were completed within the past four years.
The property is within the Pawtuxet Village Historic District, near the village’s restaurants, shops, and waterfront. The location also provides access to highways, hospitals, and T.F. Green International Airport.
The property is within the Pawtuxet Village Historic District, near the village’s restaurants, shops, and waterfront. The location also provides access to highways, hospitals, and T.F. Green International Airport.
Key Highlights
- Side‑by‑side duplex with one bedroom and one full bath in each unit
- Kitchens and electrical systems updated within the past four years
- Enclosed entrance porches serve both units
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 kitchens, electrical systems, enclosed porches, and separate private driveways.
Where is this duplex located?
The property is located at 14 South Atlantic Ave 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: Side‑by‑side duplex with one bedroom and one full bath in each unit; Kitchens and electrical systems updated within the past four years; Enclosed entrance porches serve both units
