Two-Family Residential Income
For Sale
$675,000
189 Danielson Pike, Scituate, RI 02857
Well-maintained 2-family home with hardwood floors, central air, updated heating, and replacement windows, plus a private backyard with pool.
Property Size3,509 SF
Price / SF$192.36
Days on Market59
Property Features for 189 Danielson Pike
General Information
Standard status
Active
Size
3,509 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
in-ground pool
central air
Building Details
Year Built
1833
Tenancy
Multi
Listing Agency:
Keller Williams Leading Edge
Listed By:
Holly Bellucci · License #RES.0041147
(401) 333-4900
Source:
Alpernandmesenbourg
Added: Jul 20
Changed: Sep 10
Last Checked: Sep 16 at 1:41AM
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 Keller Williams Leading Edge
Investment Insights
Based on property information with market context.
This well-maintained 2-family residential income property features hardwood floors, spacious layouts, abundant natural light, and central air in both units. Significant updates include new heating systems and replacement windows. Outdoor space includes a large, private backyard and an in-ground pool.
A special use permit for short-term rentals is already in place, and lead certificates are available for convenience. Tax records indicate 6 beds and a 5-bed septic system.
A special use permit for short-term rentals is already in place, and lead certificates are available for convenience. Tax records indicate 6 beds and a 5-bed septic system.
Key Highlights
- Year built 1833: well‑maintained 2‑family home with hardwood floors and spacious units
- Both units have central air and abundant natural light
- Major improvements include new heating systems and replacement windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,427
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,168,540
$1.2M
Cap Rate 7%
$834,671
$834.7K
Cap Rate 9%
$649,189
$649.2K
Market Conditions
NOI Build-Up for 3,509 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.3K $25.44/SF
− Vacancy
−$5.8K −$1.65/SF
EGI
$83.5K $23.79/SF
− OpEx
−$25.0K −$7.14/SF
NOI
$58.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,168,540
Cap Rate 7%
$834,671
Cap Rate 9%
$649,189
Alternative Uses
Best Use
Multifamily LT 5
$834.7K
$730.3K – $973.8K
NOI $58,427 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$662.4K
$579.6K – $772.8K
NOI $46,370 @ 7.0% cap · market cap 6.87%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 02857, RI
8,339
Population
3,549
Households
2.3
Avg Household Size
48
Median Age
38%
College-Educated
98%
High-School Grad
43.2 sq mi
ZIP Area
193
Density / Sq Mi
$108,813
Median Household Income
$60,958
Median Earnings
$1,463
Median Rent
$387,500
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained 2-family home with hardwood floors, central air, updated heating, and replacement windows, plus a private backyard with pool.
Where is this duplex located?
The property is located at 189 Danielson Pike Scituate, RI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Year built 1833: well‑maintained 2‑family home with hardwood floors and spacious units; Both units have central air and abundant natural light; Major improvements include new heating systems and replacement windows
