Duplex on a Double
For Sale
$950,000
17 Clara Ln, 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 Market47
Property Features for 17 Clara Ln
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 #REB.0016121
(401) 792-3815
Source:
Seaveyrealtyteam
Added: Sep 2
Changed: Oct 15
Last Checked: Oct 7 at 4:25PM
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
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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 / Yr
$35,221
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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 Ln 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
