Duplex with Side
18 Fortin Road, South Kingstown, RI 02881
For Sale
$860,000
Both residences are leased through May 2027 and provide four-bedroom layouts with three bathrooms each.
Property Size3,108 SF
Price / SF$276.71
Days on Market56
Property Features for 18 Fortin Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
side decks
Stall Shower
Cable TV
Paved Driveway
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
CARTY REALTY
(401) 783-0044
Listed By:
David Carty · License #REB.0016121
(401) 662-9600
Source:
Caldwellrealtyri
Added: Sep 15
Changed: Nov 6
Last Checked: Nov 8 at 10:10PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1997, this 3,108-square-foot duplex has two residences, each configured with four bedrooms and three bathrooms. Side decks and a large parking area serve the property. Recent improvements include a new roof and Pella windows. The property is zoned R-10.
The duplex is a short walk from URI’s main campus. Both residences are leased through the end of May 2027.
The duplex is a short walk from URI’s main campus. Both residences are leased through the end of May 2027.
Key Highlights
- Two residences, each with 4 bedrooms and 3 bathrooms
- 3,108 square feet; built in 1997
- Both sides leased through the end of May 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,489
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$749,780
$749.8K
Cap Rate 7%
$535,557
$535.6K
Cap Rate 9%
$416,544
$416.5K
Market Conditions
NOI Build-Up for 3,108 SF
Gross rent
$55.9K $18.00/SF
− Vacancy
−$2.4K −$0.77/SF
EGI
$53.6K $17.23/SF
− OpEx
−$16.1K −$5.17/SF
NOI
$37.5K $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%
$749,780
Cap Rate 7%
$535,557
Cap Rate 9%
$416,544
Alternative Uses
Best Use
Multifamily LT 5
$535.6K
$468.6K – $624.8K
NOI $37,489 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$467.4K
$408.9K – $545.3K
NOI $32,715 @ 7.0% cap · market cap 3.80%
Theoretical Best
Healthcare Medical
$621.0K
$543.4K – $724.5K
NOI $43,468 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 02881, RI
8,443
Population
1,247
Households
6.8
Avg Household Size
20
Median Age
83%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
2,483
Density / Sq Mi
$5,951
Median Earnings
$1,368
Median Rent
$481,000
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Washington County, RI
Properties on Market for Duplexes in Washington County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased through May 2027 and provide four-bedroom layouts with three bathrooms each.
Where is this duplex located?
The property is located at 18 Fortin Road South Kingstown, RI.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Two residences, each with 4 bedrooms and 3 bathrooms; 3,108 square feet; built in 1997; Both sides leased through the end of May 2027
