Two-Unit Duplex with Fenced
16 Jennison Road, Warwick, RI 02889
For Sale
$495,000
Pending
Both residences feature in-unit laundry, outdoor space, and access to nearby shops, restaurants, parks, and the water.
Property Size2,240 SF
Days on Market54
Property Features for 16 Jennison Road
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
washer/dryer in unit
private deck
fenced yard
Building Details
Year Built
Buildings
Listing Agency:
Peluso Properties
(401) 432-7970
Listed By:
Diane Williams · License RI RES.0041722
(401) 440-3261
Source:
Lockandkeyre
Added: Sep 18
Changed: Nov 8
Last Checked: Nov 10 at 7:43AM
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 Peluso Properties
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Investment Insights
Based on property information with market context.
This 2,240-square-foot duplex contains two residential units, each configured with 2 bedrooms and 1 full bath. Both units include their own washer and dryer, while the property also offers a private deck and fenced yard for outdoor use. Built in 1925, the home provides a two-family layout suited to rental occupancy, owner use, or multi-generational living.
The property is located in Conimicut in Warwick, within a short walk of the water and near local shops, restaurants, and parks. It can convey with or without tenants.
The property is located in Conimicut in Warwick, within a short walk of the water and near local shops, restaurants, and parks. It can convey with or without tenants.
Key Highlights
- Two‑unit duplex totaling 2,240 square feet
- Each unit includes 2 bedrooms and 1 full bath
- Private washer and dryer provided in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,547
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$650,940
$650.9K
Cap Rate 7%
$464,957
$465.0K
Cap Rate 9%
$361,633
$361.6K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$49.7K $22.20/SF
− Vacancy
−$3.2K −$1.44/SF
EGI
$46.5K $20.76/SF
− OpEx
−$13.9K −$6.23/SF
NOI
$32.5K $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 Rate 5%
$650,940
Cap Rate 7%
$464,957
Cap Rate 9%
$361,633
Alternative Uses
Best Use
Multifamily LT 5
$465.0K
$406.8K – $542.5K
NOI $32,547 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$427.1K
$373.8K – $498.3K
NOI $29,900 @ 7.0% cap · market cap 6.04%
Theoretical Best
Specialty Retail
$561.0K
$490.9K – $654.5K
NOI $39,272 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
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Business Placement
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Kent County, RI
Properties on Market for Duplexes in Kent County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature in-unit laundry, outdoor space, and access to nearby shops, restaurants, parks, and the water.
Where is this duplex located?
The property is located at 16 Jennison Road Warwick, RI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,240 square feet; Each unit includes 2 bedrooms and 1 full bath; Private washer and dryer provided in both units
