Updated Two-Unit
16 Sherwood Street Cranston, RI 02920
For Sale
$574,900
Updated two-unit duplex with open layouts, granite countertops, hardwood floors, and multiple recently serviced mechanical components.
Property Size1,936 SF
Price / SF$296.95
Days on Market10
Property Features for 16 Sherwood Street
General Information
- Standard status
- Active
- Size
- 1,936 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing Agency:
Weichert REALTORS-Atlantic Prp
(401) 783-2550
Listed By:
Mike Navoian
Source:
Lockandkeyre
Added: Jul 15
Changed: Jul 22
Last Checked: Jul 23 at 5:27AM
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 Weichert REALTORS-Atlantic Prp
Investment Insights
Based on property information with market context.
Updated two-unit duplex featuring open floor plans, granite countertops, and hardwood floors throughout. The property is configured as a 6-bedroom home across two units, offering flexible living and rental options.
Located at 16 Sherwood Street in Cranston’s Knightsville area, the property is described as walkable to nearby restaurants, with easy access to the highway. The remarks also note that Garden City and Chapel View are approximately 10 minutes away.
Mechanically, the home includes a mix of newer components intended to reduce near-term maintenance concerns, including 3- and 7-year-old boilers, a 4-year-old tankless hot water heater for Unit 1, and a 3-year-old hot water heater for Unit 2. Additional items cited are a 6-year-old roof and a brand new exterior fence.
Located at 16 Sherwood Street in Cranston’s Knightsville area, the property is described as walkable to nearby restaurants, with easy access to the highway. The remarks also note that Garden City and Chapel View are approximately 10 minutes away.
Mechanically, the home includes a mix of newer components intended to reduce near-term maintenance concerns, including 3- and 7-year-old boilers, a 4-year-old tankless hot water heater for Unit 1, and a 3-year-old hot water heater for Unit 2. Additional items cited are a 6-year-old roof and a brand new exterior fence.
Key Highlights
- Updated 6‑bedroom, two‑unit duplex with open floor plans
- Granite countertops and hardwood floors throughout
- Unit 1 includes a 4‑year‑old tankless hot water heater
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.3k | $25.44 |
| − Vacancy | −$3.2k | −$1.65 |
| EGI | $46.1k | $23.79 |
| − OpEx | −$13.8k | −$7.14 |
| NOI | $32.2k | $16.65 |
1,936 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$460.5K
$402.9K – $537.3K
NOI $32,235 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$365.5K
$319.8K – $426.4K
NOI $25,583 @ 7.0% cap · market cap 4.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Updated two-unit duplex with open layouts, granite countertops, hardwood floors, and multiple recently serviced mechanical components.
Where is this duplex located?
The property is located at 16 Sherwood Street Cranston, RI.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Updated 6‑bedroom, two‑unit duplex with open floor plans; Granite countertops and hardwood floors throughout; Unit 1 includes a 4‑year‑old tankless hot water heater
