Two-Bedroom Duplex with
16 Manville Ave, Lincoln, RI 02838
For Sale
$649,900
1986 duplex with separate basements, updated decks, and spacious two-bedroom units.
Property Size3,920 SF
Price / SF$165.79
Days on Market93
Property Features for 16 Manville Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
washer/dryer hookup
decks
Building Details
Year Built
Buildings
Listing Agency:
Century 21 North East
Listed By:
Christine Simpson · License RI RES.0035252
(401) 935-6782
Source:
Alpernandmesenbourg
Added: Aug 10
Changed: Oct 25
Last Checked: Oct 7 at 1:27PM
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 Century 21 North East
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Investment Insights
Based on property information with market context.
Built in 1986, this duplex contains two separate units, each offering 2 bedrooms, 1.5 baths, generous closet space, and a private basement with washer and dryer hookups. The property includes two gas forced hot water furnaces, two gas hot water heaters, and two 100 Amp circuit breaker panels.
A roof installed in April 2024, vinyl siding, and decks replaced within the last year add to the property’s physical improvements. The home is set back from the street and includes a backyard, providing outdoor space for the occupants. Each side has its own basement, supporting practical storage and utility needs.
A roof installed in April 2024, vinyl siding, and decks replaced within the last year add to the property’s physical improvements. The home is set back from the street and includes a backyard, providing outdoor space for the occupants. Each side has its own basement, supporting practical storage and utility needs.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1.5 baths in each unit
- Each unit includes a private basement with washer and dryer hookups
- Roof installed in April 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,801
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,036,020
$1.0M
Cap Rate 7%
$740,014
$740.0K
Cap Rate 9%
$575,567
$575.6K
Market Conditions
NOI Build-Up for 3,920 SF
Gross rent
$100.2K $25.56/SF
− Vacancy
−$6.0K −$1.53/SF
EGI
$94.2K $24.03/SF
− OpEx
−$42.4K −$10.81/SF
NOI
$51.8K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,036,020
Cap Rate 7%
$740,014
Cap Rate 9%
$575,567
Alternative Uses
Best Use
Multifamily LT 5
$932.4K
$815.9K – $1.09M
NOI $65,270 @ 7.0% cap · market cap 10.04%
Second Best
Apartment 5plus
$740.0K
$647.5K – $863.4K
NOI $51,801 @ 7.0% cap · market cap 7.97%
Theoretical Best
—
—
same as Best Use
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
137
Businesses Nearby
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Business Placement
Demographics for 02838, RI
3,801
Population
1,546
Households
2.5
Avg Household Size
38
Median Age
49%
College-Educated
91%
High-School Grad
1.4 sq mi
ZIP Area
2,715
Density / Sq Mi
$82,075
Median Household Income
$51,989
Median Earnings
$1,311
Median Rent
$327,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Providence County, RI
Properties on Market for Duplexes in Providence County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - 1986 duplex with separate basements, updated decks, and spacious two-bedroom units.
Where is this duplex located?
The property is located at 16 Manville Ave Lincoln, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1.5 baths in each unit; Each unit includes a private basement with washer and dryer hookups; Roof installed in April 2024
