Duplex Property on Double
For Sale
$950,000
Pending
17 Clara Lane, Narragansett, RI 02882
Residential Income, Narragansett, RI
Property Size2,920 SF
Lot Size0.48 Acres
Days on Market36
Property Features for 17 Clara Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-10
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 2, Basement, Bedroom 6, Bedroom 1, Bedroom 8, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 2
Parking
8
Parking features
None
Patio and Porch features
Deck
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
Exterior features
Deck
Basement
Partially Finished, Full
Appliances
Gas Water Heater
Subdivision
Bonnet Shores
Lot features
Paved Driveway, Wooded
Standard status
Pending
Size
2,920 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5076
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
air conditioning
Building Details
Year built
1986
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Laminate
Building materials
Dry Wall, Clapboard, Shingles
Listing Agency:
Carty Realty
(401) 783-0044
Listed By:
David Carty · License #REB.0016121
(401) 662-9600
Added: Sep 1
Changed: Sep 26
Last Checked: Oct 6 at 5:06PM
MLS# 1422211
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 duplex property contains two separate residences, each with 4 bedrooms and 2 bathrooms, for a combined 2,920 square feet. Built in 1986, the homes feature central air, forced-air natural gas heating, mixed flooring that includes ceramic tile and laminate, and gas water heaters. Drywall and clapboard and shingle materials are used throughout the improvements, with decks providing outdoor space.
The property occupies 0.48 acres in the Bonnet Shores area of Narragansett, Rhode Island. The parcel is zoned R-10 and includes no designated parking features. One side is leased through the end of May 2027. The property is offered through an LLC.
The property occupies 0.48 acres in the Bonnet Shores area of Narragansett, Rhode Island. The parcel is zoned R-10 and includes no designated parking features. One side is leased through the end of May 2027. The property is offered through an LLC.
Key Highlights
- Two‑residence duplex with 2,920 square feet of building area
- Each residence includes 4 bedrooms and 2 bathrooms
- Situated on a 0.48‑acre double lot in Bonnet Shores
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.
Property Analytics
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two bright residences offer central air, new flooring, and deck access within an R-10 setting.
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 with 2,920 square feet of building area; Each residence includes 4 bedrooms and 2 bathrooms; Situated on a 0.48‑acre double lot in Bonnet Shores
