Duplex with Side
For Sale
Under Contract
$860,000
18 Fortin Road, South Kingstown, RI 02881
Residential Income, South Kingstown, RI
Property Size3,108 SF
Lot Size0.31 Acres
Price / SF$276.71
Days on Market48
Property Features for 18 Fortin Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-10
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bathroom 2, Bathroom 6, Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 7, Bathroom 1, Bedroom 8, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2, Basement
Parking
8
Parking features
None
Window features
Insulated Windows
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
Basement
Partially Finished, Full
Appliances
Dishwasher, Dryer, Range Hood, Microwave, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Kingston
Lot features
Paved Driveway
Standard status
Active Under Contract
Size
3,108 SF
Lot size
0.31 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6383
Utilities
Heating system
Natural Gas, Zoned
Amenities
side decks
Building Details
Year built
1997
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Dry Wall, Vinyl Siding
Buildings
1
Listing Agency:
Carty Realty
(401) 783-0044
Listed By:
David Carty · License #REB.0016121
(401) 662-9600
Added: Sep 15
Changed: Oct 28
Last Checked: Nov 1 at 1:06PM
MLS# 1423421
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.
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Investment Insights
Based on property information with market context.
This 3,108-square-foot duplex contains two residences, each configured with four bedrooms and three bathrooms. Side decks serve the units, and the property includes a new roof and Pella windows. Built in 1997, the building has natural gas, zoned heating and R-10 zoning on a 0.31-acre lot.
The property is near the University of Rhode Island’s main campus. Both residences are leased through the end of May 2027.
The property is near the University of Rhode Island’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 on a 0.31‑acre lot
- Pella windows and a new roof
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.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased through May 2027, with each offering four bedrooms and three bathrooms.
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 on a 0.31‑acre lot; Pella windows and a new roof
