Multifamily Property with
For Sale
$600,000
159 Ten Rod Road North, North Kingstown, RI 02852
Existing improvements include a fireplace, deck, and documented hot water systems.
Property Size3,780 SF
Days on Market230
Property Features for 159 Ten Rod Road North
General Information
Standard status
Active
Size
3,780 SF
Property subtype
Multi-Family
Amenities
Fireplace
Hot Water
Oil
Electric Water Heater
Deck
Building Details
Building Size
3,780 SF
Year Built
1940
Stories
1
Listing Agency:
Davelen, Inc., dba RE/MAX Professionals
Listed By:
Matthew St. Ours · License #RES.0035829
(401) 884-6050
Source:
Kw
Added: Mar 1
Changed: Oct 16
Last Checked: Oct 16 at 7:23AM
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 Davelen, Inc., dba RE/MAX Professionals
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Investment Insights
Based on property information with market context.
This multifamily property was built in 1940 and includes a fireplace, deck, and hot water-related features. The property information identifies hot water, oil, and an electric water heater among its interior features.
The property is located on Ten Rod Road in North Kingstown, minutes from Downtown Wickford. The source information identifies development and rehabilitation as potential directions for the property.
The property is located on Ten Rod Road in North Kingstown, minutes from Downtown Wickford. The source information identifies development and rehabilitation as potential directions for the property.
Key Highlights
- Multifamily property built in 1940
- Deck among the exterior features
- Fireplace included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,788
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$795,760
$795.8K
Cap Rate 7%
$568,400
$568.4K
Cap Rate 9%
$442,089
$442.1K
Market Conditions
NOI Build-Up for 3,780 SF
Gross rent
$75.8K $20.04/SF
− Vacancy
−$3.4K −$0.90/SF
EGI
$72.3K $19.14/SF
− OpEx
−$32.6K −$8.61/SF
NOI
$39.8K $10.53/SF
Area
Washington County, RI
Vacancy
4.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$795,760
Cap Rate 7%
$568,400
Cap Rate 9%
$442,089
Alternative Uses
Best Use
Apartment 5plus
$568.4K
$497.4K – $663.1K
NOI $39,788 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$755.2K
$660.8K – $881.1K
NOI $52,867 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 02852, RI
23,579
Population
10,589
Households
2.2
Avg Household Size
47
Median Age
49%
College-Educated
96%
High-School Grad
30.8 sq mi
ZIP Area
766
Density / Sq Mi
$112,457
Median Household Income
$60,020
Median Earnings
$1,188
Median Rent
$461,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Existing improvements include a fireplace, deck, and documented hot water systems.
Where is this multifamily property located?
The property is located at 159 Ten Rod Road North North Kingstown, RI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Multifamily property built in 1940; Deck among the exterior features; Fireplace included
