Side-by-Side
For Sale
$529,000
160 Westerly Bradford Road, Westerly, RI 02891
Residential Income, Westerly, RI
Property Size3,816 SF
Lot Size1.90 Acres
Price / SF$138.63
Days on Market16
Property Features for 160 Westerly Bradford Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4
Parking
8
Parking features
None
Interior features
Wall (Plaster), Attic Stairs, Cedar Closet(s), Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Unfinished, Full
Appliances
Electric Water Heater, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Lot features
Fenced
View
Water
Standard status
Active
Size
3,816 SF
Lot size
1.90 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3302
Utilities
Sewer type
Cesspool
Heating system
Electric (Heating), Oil, Baseboard, Forced Air
Water source
Well
Building Details
Year built
1840
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Plaster, Aluminum Siding, Vinyl Siding
Listing Agency:
Dandurand Real Estate
(401) 552-7707
Listed By:
Grace Williams · License #REB.0016996
(401) 368-3118
Added: Aug 29
Changed: Sep 13
Last Checked: Sep 13 at 4:06PM
MLS# 1421912
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.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residential units, each with 2 bedrooms and 1 bathroom. The property provides 3,816 square feet of building area on 1.9 acres, with interior access currently connecting the residences. That connection can be closed and filled in to create fully separate apartments, while the existing layout also supports use as one home with an in-law arrangement.
Built in 1840, the property includes a basement, attic stairs, plaster and siding exterior materials, vinyl and carpet flooring, and a mix of electric, oil, forced-air, and baseboard heating. Each unit is equipped with an oven/range, refrigerator, microwave, washer, and dryer. Water is supplied by a well, and wastewater is handled by a cesspool. The property is located in Westerly, Rhode Island.
Built in 1840, the property includes a basement, attic stairs, plaster and siding exterior materials, vinyl and carpet flooring, and a mix of electric, oil, forced-air, and baseboard heating. Each unit is equipped with an oven/range, refrigerator, microwave, washer, and dryer. Water is supplied by a well, and wastewater is handled by a cesspool. The property is located in Westerly, Rhode Island.
Key Highlights
- Two side‑by‑side units with 2 bedrooms and 1 bathroom each
- 3,816 square feet on 1.9 acres
- Interior access currently connects the two residences
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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two adjoining residences offer flexible separation for duplex or extended-household use.
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 side‑by‑side units with 2 bedrooms and 1 bathroom each; 3,816 square feet on 1.9 acres; Interior access currently connects the two residences
