Multi-Family Home with Lift
195 Town Farm Road, Coventry, RI 02816
New
MULTI_FAMILY - Coventry, RI
Property size:
3,033 SFLot size:
2.00 AcresPrice / SF:
$262/SF- Added:
- Jun 27, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 195 Town Farm Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2A
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 4, Basement, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 2, Bathroom 2
- Parking
- 7
- Parking features
- Open
- Patio and Porch features
- Deck
- Interior features
- Wall (Plaster), Wall (Wood), Attic, Attic Stairs, Skylight, Stairs, Plumbing (Mixed), Insulation (Unknown)
- Exterior features
- Deck
- Basement
- Unfinished, Partial
- Appliances
- Electric Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 3,033 SF
- Lot size
- 2.00 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7224
Utilities
- Sewer type
- Septic Tank
- Heating system
- Oil, Baseboard
- Water source
- Well
Building Details
- Year built
- 1790
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl, Pine, Hardwood
- Building materials
- Plaster, Wood Wall(s), Vinyl Siding
Listing agent Elizabeth VARS (401) 398-7070
Listing office Doorley Real Estate Inc 17 Sixth Avenue, RI (401) 398-7070
Listing date Jun 27, 2026
MLS# 1416482
Listing URL
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.
HighLights
- Multi‑family on 2 acres, built in 1790, with well water and a septic tank
- Oversized 3‑car garage with a professional lift, plus additional outdoor deck space
- First‑floor unit offers 1,700+ SF with 3‑4 bedrooms, a full bath, eat‑in kitchen, and living room with storage
- Second‑floor unit offers 1,300+ SF with 3 bedrooms, a full bath, kitchen, and formal dining room plus attic storage
- Each unit has separate utilities and meters and oil heat
- Includes appliances such as dishwasher, microwave, oven/range, and refrigerator, plus electric water heater
Overview
This well-maintained two-unit residential income property includes an oversized 3-car garage equipped with a professional lift, suited to a range of storage and workspace needs. Both units feature wood floors and dedicated laundry areas, and the property is set up with separate utilities and meters for each unit, all heated with oil heat. The outdoor grounds are expansive, providing room for practical daily use and parking.
The property sits on 2 acres in Coventry, RI. The first-floor unit offers approximately 1,700 square feet of living space with 3 to 4 bedrooms, a full bath, an eat-in kitchen, a spacious living room, and substantial storage. The second-floor unit provides approximately 1,300 square feet with 3 bedrooms, a full bath, a kitchen, a formal dining room, an ample living room, and attic storage as needed.
With separate utilities and laundry in each unit, the layout can work well for an owner-occupant looking for income while maintaining day-to-day convenience. It also offers a functional setup for a long-term residential rental with consistent unit amenities, supported by the on-site garage and additional ground space. The remarks note a 6-bedroom ISDS and multiple improvements completed over the last 10+ years.
The property sits on 2 acres in Coventry, RI. The first-floor unit offers approximately 1,700 square feet of living space with 3 to 4 bedrooms, a full bath, an eat-in kitchen, a spacious living room, and substantial storage. The second-floor unit provides approximately 1,300 square feet with 3 bedrooms, a full bath, a kitchen, a formal dining room, an ample living room, and attic storage as needed.
With separate utilities and laundry in each unit, the layout can work well for an owner-occupant looking for income while maintaining day-to-day convenience. It also offers a functional setup for a long-term residential rental with consistent unit amenities, supported by the on-site garage and additional ground space. The remarks note a 6-bedroom ISDS and multiple improvements completed over the last 10+ years.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.3k | $22.20 |
| − Vacancy | −$4.4k | −$1.44 |
| EGI | $63.0k | $20.76 |
| − OpEx | −$18.9k | −$6.23 |
| NOI | $44.1k | $14.53 |
3,033 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$629.6K
$550.9K – $734.5K
NOI $44,069 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$578.4K
$506.1K – $674.8K
NOI $40,485 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$759.6K
$664.7K – $886.3K
NOI $53,175 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Coventry
- County
- Kent
- State
- Rhode Island
- Longitude
- -71.614614
- Latitude
- 41.707907
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two units with separate utilities and oil heat, plus an oversized 3-car garage equipped with a professional lift.
Where is this duplex located?
The property is located at 195 Town Farm Road Coventry, RI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Multi‑family on 2 acres, built in 1790, with well water and a septic tank; Oversized 3‑car garage with a professional lift, plus additional outdoor deck space; First‑floor unit offers 1,700+ SF with 3‑4 bedrooms, a full bath, eat‑in kitchen, and living room with storage
