Two-Unit Duplex with Private
New
For Sale
$679,900
181 Shun Pike, Johnston, RI 02919
Separate driveways and outdoor areas give each residence a distinct setting within the duplex.
Property Size2,223 SF
Price / SF$305.85
Days on Market7
Property Features for 181 Shun Pike
General Information
Standard status
Active
Size
2,223 SF
Property subtype
MultiFamily
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
private basement
Building Details
Year Built
1970
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Benjamin Antonelli · License #RES.0043100
(401) 578-8901
Source:
Lockandkeyre
Added: Oct 7
Changed: Oct 13
Last Checked: Oct 12 at 7:45PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Built in 1970, this duplex contains two residences, each with 3 bedrooms, 1.5 baths, and a private basement. Separate driveways and distinct outdoor areas provide separation between the units. The property also has a newer roof and septic system.
Interstate 295 is less than five minutes away, and Providence is a 12-minute drive from the property.
Interstate 295 is less than five minutes away, and Providence is a 12-minute drive from the property.
Key Highlights
- Two residences, each with 3 bedrooms and 1.5 baths
- Private basement for each residence
- Separate driveways and outdoor areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,014
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,280
$740.3K
Cap Rate 7%
$528,771
$528.8K
Cap Rate 9%
$411,267
$411.3K
Market Conditions
NOI Build-Up for 2,223 SF
Gross rent
$56.6K $25.44/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$52.9K $23.79/SF
− OpEx
−$15.9K −$7.14/SF
NOI
$37.0K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,280
Cap Rate 7%
$528,771
Cap Rate 9%
$411,267
Alternative Uses
Best Use
Multifamily LT 5
$528.8K
$462.7K – $616.9K
NOI $37,014 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$419.7K
$367.2K – $489.6K
NOI $29,376 @ 7.0% cap · market cap 4.32%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 02919, RI
29,473
Population
11,993
Households
2.5
Avg Household Size
45
Median Age
29%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,254
Density / Sq Mi
$87,811
Median Household Income
$56,068
Median Earnings
$1,259
Median Rent
$326,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate driveways and outdoor areas give each residence a distinct setting within the duplex.
Where is this duplex located?
The property is located at 181 Shun Pike Johnston, RI.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 1.5 baths; Private basement for each residence; Separate driveways and outdoor areas
