Two-Unit Duplex with Private
For Sale
$449,900
141 East Ave, Burrillville, RI 02830
Two residential units offer separate utilities, off-street parking, and flexible occupancy options in Harrisville.
Property Size2,058 SF
Price / SF$218.61
Days on Market13
Property Features for 141 East Ave
General Information
Standard status
Active
Size
2,058 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,409
Amenities
private deck
separate utilities
Building Details
Buildings
1
Listing Agency:
eXp Realty LLC
(401) 288-3600
Listed By:
Matt Mandeville · License #REB.0204020
(401) 787-3757
Source:
Exprealty
Added: Sep 10
Changed: Sep 21
Last Checked: Sep 21 at 7:33AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This two-unit duplex at 141 East Ave includes 2,058 square feet of living space. The first-floor residence has three bedrooms and two full bathrooms, while the second unit provides three bedrooms and one full bathroom. Separate utilities support distinct management and expense allocation for each household.
Exterior features include off-street parking and a private deck for outdoor use. The property is in Harrisville, within Burrillville, with access to local shopping, restaurants, schools, recreation, and major roadways. Its two-unit layout can accommodate an owner-occupant, extended household, or separate tenants.
Exterior features include off-street parking and a private deck for outdoor use. The property is in Harrisville, within Burrillville, with access to local shopping, restaurants, schools, recreation, and major roadways. Its two-unit layout can accommodate an owner-occupant, extended household, or separate tenants.
Key Highlights
- Two‑unit duplex with 2,058 square feet of living space
- First‑floor unit includes 3 bedrooms and 2 full bathrooms
- Second unit offers 3 bedrooms and 1 full bathroom
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
$34,267
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
7.62%
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%
$685,340
$685.3K
Cap Rate 7%
$489,529
$489.5K
Cap Rate 9%
$380,744
$380.7K
Market Conditions
NOI Build-Up for 2,058 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
$52.4K $25.44/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$49.0K $23.79/SF
− OpEx
−$14.7K −$7.14/SF
NOI
$34.3K $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%
$685,340
Cap Rate 7%
$489,529
Cap Rate 9%
$380,744
Alternative Uses
Best Use
Multifamily LT 5
$489.5K
$428.3K – $571.1K
NOI $34,267 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$388.5K
$339.9K – $453.3K
NOI $27,195 @ 7.0% cap · market cap 6.04%
Theoretical Best
—
—
same as Best Use
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
113
Businesses Nearby
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Business Placement
Demographics for 02830, RI
6,474
Population
2,837
Households
2.3
Avg Household Size
46
Median Age
29%
College-Educated
91%
High-School Grad
20.4 sq mi
ZIP Area
317
Density / Sq Mi
$121,611
Median Household Income
$59,876
Median Earnings
$981
Median Rent
$381,200
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 separate utilities, off-street parking, and flexible occupancy options in Harrisville.
Where is this duplex located?
The property is located at 141 East Ave Burrillville, RI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,058 square feet of living space; First‑floor unit includes 3 bedrooms and 2 full bathrooms; Second unit offers 3 bedrooms and 1 full bathroom
