Duplex with Private
New
For Sale
$575,000
16 Binford Street, Lincoln, RI 02865
Two-unit residential property with hardwood flooring, individual patios, basement storage, and a large backyard.
Property Size2,080 SF
Price / SF$276.44
Days on Market2
Property Features for 16 Binford Street
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
eXp Realty
Listed By:
Slocum Home Team · License #38011
(401) 491-4535
Source:
Onshorerealtors
Added: Sep 1
Last Checked: Sep 1 at 3:05PM
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
Investment Insights
Based on property information with market context.
This duplex, built in 1920, contains 2,080 square feet and offers two residential units with hardwood flooring throughout. Each unit includes a private patio, while basement storage adds useful space for household items and equipment. A large backyard provides additional outdoor area for the property.
Located at 16 Binford Street in Lincoln, Rhode Island, the property combines a two-unit layout with established residential improvements and outdoor amenities. The configuration includes private exterior space for each unit, basement storage, and a backyard serving the overall property.
Located at 16 Binford Street in Lincoln, Rhode Island, the property combines a two-unit layout with established residential improvements and outdoor amenities. The configuration includes private exterior space for each unit, basement storage, and a backyard serving the overall property.
Key Highlights
- 2,080‑square‑foot duplex built in 1920
- Two residential units, each with a private patio
- Hardwood flooring throughout the property
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
$34,633
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
6.02%
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%
$692,660
$692.7K
Cap Rate 7%
$494,757
$494.8K
Cap Rate 9%
$384,811
$384.8K
Market Conditions
NOI Build-Up for 2,080 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
$52.9K $25.44/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$49.5K $23.79/SF
− OpEx
−$14.8K −$7.14/SF
NOI
$34.6K $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%
$692,660
Cap Rate 7%
$494,757
Cap Rate 9%
$384,811
Alternative Uses
Best Use
Multifamily LT 5
$494.8K
$432.9K – $577.2K
NOI $34,633 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$392.7K
$343.6K – $458.1K
NOI $27,486 @ 7.0% cap · market cap 4.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
458
Businesses Nearby
Explore this area
Business Placement
Demographics for 02865, RI
17,902
Population
7,079
Households
2.5
Avg Household Size
45
Median Age
48%
College-Educated
92%
High-School Grad
16.5 sq mi
ZIP Area
1,085
Density / Sq Mi
$117,042
Median Household Income
$59,949
Median Earnings
$1,206
Median Rent
$427,700
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?
Duplex - Two-unit residential property with hardwood flooring, individual patios, basement storage, and a large backyard.
Where is this duplex located?
The property is located at 16 Binford Street Lincoln, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,080‑square‑foot duplex built in 1920; Two residential units, each with a private patio; Hardwood flooring throughout the property
