Duplex with Detached
New
For Sale
$575,000
16 Wakefield Avenue, Cranston, RI 02920
Residential Income, Cranston, RI
Property Size3,712 SF
Lot Size0.19 Acres
Price / SF$154.90
Days on Market1
Property Features for 16 Wakefield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B1
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Basement
Parking
6
Interior features
Wall (Cermaic), Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Full, Partially Finished
Appliances
Dishwasher, Dryer, Microwave, Oven, Range, Refrigerator, Washer, Gas Water Heater, Tankless Water Heater
Lot features
Fenced, Paved Driveway
Standard status
Active
Size
3,712 SF
Lot size
0.19 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5259
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Number of units
2
Flooring type
Carpet, Hardwood, Tile - Ceramic
Building materials
Ceramic, Dry Wall, Brick, Clapboard, Masonry, Shingles
Buildings
1
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Leslie Heller
(401) 714-2728
Added: Oct 29
Last Checked: Oct 29 at 6:06PM
MLS# 1427066
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,712-square-foot duplex, built in 1958, contains two separate living units. The first has an updated kitchen, dining area, living room, one main-level bedroom, and a full bath. A finished lower-level area is used as a bedroom suite, with additional unfinished basement space for storage. The second unit is arranged on one level and includes an updated kitchen with dining nook, a flexible room currently serving as a den, and a full bath; it is tenant-occupied. Two tankless gas boilers serve the property, which also has stainless appliances, hardwood flooring, and a detached two-car garage.
The property occupies a 0.186-acre parcel in western Cranston, with a private backyard. It is zoned B1.
The property occupies a 0.186-acre parcel in western Cranston, with a private backyard. It is zoned B1.
Key Highlights
- Two‑unit duplex with 3,712 square feet of building area
- 0.186‑acre parcel in western Cranston
- Detached two‑car garage and private backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,052
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$981,040
$981.0K
Cap Rate 7%
$700,743
$700.7K
Cap Rate 9%
$545,022
$545.0K
Market Conditions
NOI Build-Up for 3,712 SF
Gross rent
$94.9K $25.56/SF
− Vacancy
−$5.7K −$1.53/SF
EGI
$89.2K $24.03/SF
− OpEx
−$40.1K −$10.81/SF
NOI
$49.1K $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%
$981,040
Cap Rate 7%
$700,743
Cap Rate 9%
$545,022
Alternative Uses
Best Use
Multifamily LT 5
$883.0K
$772.6K – $1.03M
NOI $61,807 @ 7.0% cap · market cap 10.75%
Second Best
Apartment 5plus
$700.7K
$613.2K – $817.5K
NOI $49,052 @ 7.0% cap · market cap 8.53%
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
756
Businesses Nearby
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Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct layouts include a finished lower-level suite and a tenant-occupied second unit.
Where is this duplex located?
The property is located at 16 Wakefield Avenue Cranston, 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: Two‑unit duplex with 3,712 square feet of building area; 0.186‑acre parcel in western Cranston; Detached two‑car garage and private backyard
