Building Details

Year Built 1840

Listing Agency: Dandurand Real Estate Show Phone

Listed By: Grace Williams · License #REB.0016996 Show Phone

Source: Lockandkeyre

Added: Aug 29 Changed: Oct 16 Last Checked: Oct 16 at 9:49AM

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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

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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.

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 / Yr

$46,029

Cap Rate

8.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$920,580 $920.6K

Cap Rate 7%

$657,557 $657.6K

Cap Rate 9%

$511,433 $511.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,816 SF

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 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 (±1% cap)

NOI $46,029 @ 7.0% cap · market cap 8.70%

Second Best

Apartment 5plus

$573.8K

$502.1K – $669.5K (±1% cap)

NOI $40,167 @ 7.0% cap · market cap 7.59%

Theoretical Best

Healthcare Medical

$762.4K

$667.1K – $889.5K (±1% cap)

NOI $53,371 @ 7.0% cap · market cap 10.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Auto Parts Store Building Supply (Bike/Boat/Book/etc) Store Auto Repair Shop Car Rental Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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 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