Updated Townhouse-Style
For Sale
$599,000
Pending
152 Laurel Hill Avenue, Burrillville, RI 02859
Residential Income, Burrillville, RI
Property Size3,150 SF
Lot Size0.85 Acres
Days on Market46
Property Features for 152 Laurel Hill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-12
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 5, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 4, Basement
Parking
4
Parking features
None
Interior features
Wall (Dry Wall), Attic, Attic Stairs, Attic Storage, Plumbing (PEX), Plumbing (PVC), Insulation (Ceiling), Insulation (Walls)
Fireplace
1
Basement
Unfinished, Storage Space, Full
Appliances
Electric Water Heater, Dishwasher, Exhaust Fan, Microwave, Oven/Range, Refrigerator
Subdivision
Pascoag
Lot features
Fenced
Standard status
Pending
Size
3,150 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6016
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Wall Unit(s), Ductless, Central Air, Heat Pump
Amenities
in-unit washer/dryer
central air
fenced yard
wraparound front porch
unfinished basement
attic storage
Building Details
Year built
1895
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Dry Wall, Aluminum Siding, Vinyl Siding
Additional Structures
Storage
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Marianna Cote · License #9582921
(401) 678-8329
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 20 at 6:06PM
MLS# 1417066
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.
This townhouse-style duplex combines two updated residential units with hardwood flooring, quartz-counter kitchen finishes, first-floor laundry, central air, and spacious bedrooms on the second level. The property also includes a wraparound porch, a full unfinished basement, attic storage, and a fenced yard. Electrical, plumbing, heating, insulation, and central air systems were updated within the last two years, while replacement windows were installed in 2024.
Set on 0.846 acres in Burrillville, the property uses public sewer and is zoned R-12. The unfinished basement may offer an ADU opportunity, subject to buyer due diligence. A fireplace, electric water heating, ductless cooling capability, and heat-pump systems are also present.
Set on 0.846 acres in Burrillville, the property uses public sewer and is zoned R-12. The unfinished basement may offer an ADU opportunity, subject to buyer due diligence. A fireplace, electric water heating, ductless cooling capability, and heat-pump systems are also present.
Key Highlights
- Townhouse‑style duplex with two residential units
- Modernized systems include electrical, plumbing, heating, insulation, and central air
- Replacement windows installed in 2024
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
$52,449
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%
$1,048,980
$1.0M
Cap Rate 7%
$749,271
$749.3K
Cap Rate 9%
$582,767
$582.8K
Market Conditions
NOI Build-Up for 3,150 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
$80.1K $25.44/SF
− Vacancy
−$5.2K −$1.65/SF
EGI
$74.9K $23.79/SF
− OpEx
−$22.5K −$7.14/SF
NOI
$52.4K $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%
$1,048,980
Cap Rate 7%
$749,271
Cap Rate 9%
$582,767
Alternative Uses
Best Use
Multifamily LT 5
$749.3K
$655.6K – $874.2K
NOI $52,449 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$594.7K
$520.3K – $693.8K
NOI $41,626 @ 7.0% cap · market cap 6.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 02859, RI
6,701
Population
2,465
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
243
Density / Sq Mi
$118,662
Median Household Income
$43,417
Median Earnings
$1,223
Median Rent
$361,600
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 residential units feature modern kitchens, in-unit laundry, central air, and flexible storage areas.
Where is this duplex located?
The property is located at 152 Laurel Hill Avenue Burrillville, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Townhouse‑style duplex with two residential units; Modernized systems include electrical, plumbing, heating, insulation, and central air; Replacement windows installed in 2024
