Side-by-Side Duplex with
New
For Sale
$529,000
160 160 Westerly Bradford Road, Westerly, RI 02891
Side-by-side layout includes a garage, shed, and internal access between apartments.
Property Size3,816 SF
Price / SF$138.63
Days on Market4
Property Features for 160 160 Westerly Bradford Road
General Information
Standard status
Active
Size
3,816 SF
Total Parking Spaces
2
Property subtype
MultiFamily
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
shed
Building Details
Year Built
1840
Listing Agency:
Dandurand Real Estate
(401) 368-3118
Listed By:
Grace Williams · License #REB.0016996
(401) 368-3118
Source:
Lockandkeyre
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 3:49PM
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 Dandurand Real Estate
Investment Insights
Based on property information with market context.
This 3,816-square-foot duplex includes two adjoining apartments, each with two bedrooms and one bathroom. The units currently connect internally, while the shared opening can be closed and filled in to create fully separate residences. A two-car garage and shed add useful storage and parking improvements.
The property sits on almost 2 acres at 160 Westerly Bradford Road in Westerly, Rhode Island. Built in 1840, the home also offers flexibility for a single-family arrangement with an in-law setup, subject to applicable requirements.
The property sits on almost 2 acres at 160 Westerly Bradford Road in Westerly, Rhode Island. Built in 1840, the home also offers flexibility for a single-family arrangement with an in-law setup, subject to applicable requirements.
Key Highlights
- Two adjoining apartments, each with 2 bedrooms and 1 bathroom
- 3,816 SF duplex built in 1840
- Internal access between apartments can be closed and filled in for separation
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
$46,029
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
8.70%
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%
$920,580
$920.6K
Cap Rate 7%
$657,557
$657.6K
Cap Rate 9%
$511,433
$511.4K
Market Conditions
NOI Build-Up for 3,816 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
$68.7K $18.00/SF
− Vacancy
−$2.9K −$0.77/SF
EGI
$65.8K $17.23/SF
− OpEx
−$19.7K −$5.17/SF
NOI
$46.0K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /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%
$920,580
Cap Rate 7%
$657,557
Cap Rate 9%
$511,433
Alternative Uses
Best Use
Multifamily LT 5
$657.6K
$575.4K – $767.2K
NOI $46,029 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$573.8K
$502.1K – $669.5K
NOI $40,167 @ 7.0% cap · market cap 7.59%
Theoretical Best
Healthcare Medical
$762.4K
$667.1K – $889.5K
NOI $53,371 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 02891, RI
21,803
Population
12,660
Households
1.7
Avg Household Size
50
Median Age
41%
College-Educated
94%
High-School Grad
26.3 sq mi
ZIP Area
829
Density / Sq Mi
$90,435
Median Household Income
$49,448
Median Earnings
$1,249
Median Rent
$422,600
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 - Side-by-side layout includes a garage, shed, and internal access between apartments.
Where is this duplex located?
The property is located at 160 160 Westerly Bradford Road Westerly, RI.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Two adjoining apartments, each with 2 bedrooms and 1 bathroom; 3,816 SF duplex built in 1840; Internal access between apartments can be closed and filled in for separation
