Duplex on a Double
New
For Sale
$950,000
17 Clara Lane, Narragansett, RI 02882
Each residence features four bedrooms, two bathrooms, air conditioning, and new flooring.
Property Size2,920 SF
Price / SF$325.34
Days on Market1
Property Features for 17 Clara Lane
General Information
Standard status
Active
Size
2,920 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
air conditioning
Building Details
Year Built
1986
Buildings
1
Listing Agency:
CARTY REALTY
Listed By:
David Carty · License #11078
Source:
Lavonnelopes
Added: Sep 2
Last Checked: Sep 2 at 1:05PM
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 CARTY REALTY
Investment Insights
Based on property information with market context.
This duplex property includes two separate residences, each arranged with four bedrooms and two bathrooms. Both sides feature air conditioning and new flooring, providing practical improvements within the existing layout. The structure was built in 1986.
Set on a double lot in Bonnet Shores, the property includes one side leased through the end of May 2027. The two-residence configuration supports separate occupancy while keeping both homes within a single property.
Set on a double lot in Bonnet Shores, the property includes one side leased through the end of May 2027. The two-residence configuration supports separate occupancy while keeping both homes within a single property.
Key Highlights
- Two‑residence duplex configuration on a double lot
- Each residence includes 4 bedrooms and 2 bathrooms
- Air conditioning in both 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
$35,221
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
3.71%
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%
$704,420
$704.4K
Cap Rate 7%
$503,157
$503.2K
Cap Rate 9%
$391,344
$391.3K
Market Conditions
NOI Build-Up for 2,920 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
$52.6K $18.00/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$50.3K $17.23/SF
− OpEx
−$15.1K −$5.17/SF
NOI
$35.2K $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%
$704,420
Cap Rate 7%
$503,157
Cap Rate 9%
$391,344
Alternative Uses
Best Use
Multifamily LT 5
$503.2K
$440.3K – $587.0K
NOI $35,221 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$439.1K
$384.2K – $512.3K
NOI $30,736 @ 7.0% cap · market cap 3.24%
Theoretical Best
Healthcare Medical
$583.4K
$510.5K – $680.7K
NOI $40,839 @ 7.0% cap · market cap 4.30%
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
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 02882, RI
12,919
Population
8,870
Households
1.5
Avg Household Size
52
Median Age
64%
College-Educated
98%
High-School Grad
12.8 sq mi
ZIP Area
1,009
Density / Sq Mi
$95,794
Median Household Income
$44,042
Median Earnings
$1,661
Median Rent
$686,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence features four bedrooms, two bathrooms, air conditioning, and new flooring.
Where is this duplex located?
The property is located at 17 Clara Lane Narragansett, RI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑residence duplex configuration on a double lot; Each residence includes 4 bedrooms and 2 bathrooms; Air conditioning in both residences
