Renovated Quadplex with Two
For Sale
$1,350,000
Pending
153 Marlborough Street, East Greenwich, RI 02818
Residential Income, East Greenwich, RI
Property Size4,517 SF
Lot Size0.14 Acres
Days on Market97
Property Features for 153 Marlborough Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 8, Bathroom 1, Bedroom 3, Bedroom 10, Bathroom 2, Bedroom 7, Bedroom 4, Bedroom 5, Bathroom 5, Bathroom 3, Bedroom 2, Basement, Bathroom 4, Bedroom 9, Bedroom 1, Bedroom 6
Parking
4
Patio and Porch features
Porch, Patio
Interior features
Wall (Dry Wall), Cathedral Ceilings, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Patio, Porch
Basement
Partial, Storage Space, Unfinished
Appliances
Dryer, Oven/Range, Refrigerator, Washer
Subdivision
Hill & Harbor
Lot features
Local Historic District
Standard status
Pending
Size
4,517 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10871
Utilities
Heating system
Natural Gas
Cooling system
Window Unit(s)
Amenities
shared stone patio
Building Details
Year built
1850
Floors in Building
3
Number of units
4
Flooring type
Hardwood
Building materials
Dry Wall, Clapboard, Shingles
Listing Agency:
Re/Max Professionals · RE/MAX International
(401) 884-6050
Listed By:
Dean Benjamin · License #B16536
(401) 965-0225
Added: May 22
Changed: Aug 21
Last Checked: Aug 26 at 6:06AM
MLS# 1413149
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 4,517-square-foot quadplex consists of two separate buildings on a 0.14-acre lot. The property contains four residential units, including multilevel townhouse-style layouts and single-level lower units. Renovations completed in 2012 included kitchen and bathroom updates along with replacement windows; upper-level units also feature hardwood flooring. Lead certificates are in place, and the buildings are heated with natural gas and cooled by window units.
Outdoor features include a shared stone patio, a small rear yard, and off-street parking. The property is located one block from Main Street shops, restaurants, and parks in East Greenwich. Existing appliances include refrigerators, ovens/ranges, washers, and dryers. A lease history and upcoming turnover provide an established operating record for the next owner.
Outdoor features include a shared stone patio, a small rear yard, and off-street parking. The property is located one block from Main Street shops, restaurants, and parks in East Greenwich. Existing appliances include refrigerators, ovens/ranges, washers, and dryers. A lease history and upcoming turnover provide an established operating record for the next owner.
Key Highlights
- 4,517 SF quadplex on a 0.14‑acre lot
- Two separate buildings with four residential units
- 2012 renovations included kitchens, bathrooms, and replacement windows
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
$65,632
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
4.86%
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%
$1,312,640
$1.3M
Cap Rate 7%
$937,600
$937.6K
Cap Rate 9%
$729,244
$729.2K
Market Conditions
NOI Build-Up for 4,517 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
$100.3K $22.20/SF
− Vacancy
−$6.5K −$1.44/SF
EGI
$93.8K $20.76/SF
− OpEx
−$28.1K −$6.23/SF
NOI
$65.6K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /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%
$1,312,640
Cap Rate 7%
$937,600
Cap Rate 9%
$729,244
Alternative Uses
Best Use
Multifamily LT 5
$937.6K
$820.4K – $1.09M
NOI $65,632 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$861.3K
$753.7K – $1.00M
NOI $60,293 @ 7.0% cap · market cap 4.47%
Theoretical Best
Specialty Retail
$1.13M
$989.9K – $1.32M
NOI $79,192 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Explore this area
Business Placement
Demographics for 02818, RI
19,907
Population
8,623
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
97%
High-School Grad
21.2 sq mi
ZIP Area
939
Density / Sq Mi
$120,952
Median Household Income
$72,985
Median Earnings
$1,384
Median Rent
$564,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units occupy two separate buildings on one lot.
Where is this quadplex located?
The property is located at 153 Marlborough Street East Greenwich, RI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 4,517 SF quadplex on a 0.14‑acre lot; Two separate buildings with four residential units; 2012 renovations included kitchens, bathrooms, and replacement windows
