Side-by-Side Duplex with
New
For Sale
$724,900
19 Vincent Street, Middletown, RI 02842
Two residential units offer private laundry, full baths, off-street parking, and access to a spacious shared yard.
Property Size1,555 SF
Price / SF$466.17
Days on Market7
Property Features for 19 Vincent Street
General Information
Standard status
Active
Size
1,555 SF
Property subtype
Multifamily
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
laundry in units
yard
Building Details
Year Built
1954
Buildings
1
Listing Agency:
Keller Williams South Watuppa
(508) 677-3233
Listed By:
Raymond Gendreau
Source:
Lockandkeyre
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 4:52PM
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 South Watuppa
Investment Insights
Based on property information with market context.
Built in 1954, this 1,555-square-foot duplex contains two side-by-side residential units. Each unit provides two bedrooms, four rooms, a full bathroom, and laundry within the unit. Both residences received light updates within the past four years, offering refreshed interiors while retaining the property’s established configuration.
The property is located at 19 Vincent Street in Middletown, Rhode Island, near the Newport line. It sits on a quiet dead-end street and includes off-street parking along with a large yard suitable for outdoor use and gatherings.
The property is located at 19 Vincent Street in Middletown, Rhode Island, near the Newport line. It sits on a quiet dead-end street and includes off-street parking along with a large yard suitable for outdoor use and gatherings.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms and 4 rooms
- 1,555‑square‑foot duplex built in 1954
- Full bathroom and in‑unit laundry in each residence
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
$25,972
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
3.58%
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%
$519,440
$519.4K
Cap Rate 7%
$371,029
$371.0K
Cap Rate 9%
$288,578
$288.6K
Market Conditions
NOI Build-Up for 1,555 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
$39.7K $25.56/SF
− Vacancy
−$2.6K −$1.70/SF
EGI
$37.1K $23.86/SF
− OpEx
−$11.1K −$7.16/SF
NOI
$26.0K $16.70/SF
Area
Newport County, RI
Vacancy
6.65%
Lease Rate
$25.56 /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%
$519,440
Cap Rate 7%
$371,029
Cap Rate 9%
$288,578
Alternative Uses
Best Use
Multifamily LT 5
$371.0K
$324.7K – $432.9K
NOI $25,972 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$330.0K
$288.7K – $385.0K
NOI $23,098 @ 7.0% cap · market cap 3.19%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 02842, RI
17,115
Population
8,255
Households
2.1
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,369
Density / Sq Mi
$97,650
Median Household Income
$47,307
Median Earnings
$1,906
Median Rent
$536,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private laundry, full baths, off-street parking, and access to a spacious shared yard.
Where is this duplex located?
The property is located at 19 Vincent Street Middletown, RI.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Two side‑by‑side units, each with 2 bedrooms and 4 rooms; 1,555‑square‑foot duplex built in 1954; Full bathroom and in‑unit laundry in each residence
