Turnkey Home With Neighborhood
For Sale
$849,900
2 Wilson Street, Bristol, RI 02809
Residential Income, Bristol, RI
Property Size1,440 SF
Lot Size0.07 Acres
Price / SF$590.21
Days on Market306
Property Features for 2 Wilson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
GB
Bedrooms
4
Bathrooms
3
Full bathrooms
1
Half bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Basement, Bathroom 2
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Unfinished, Storage Space
Appliances
Tankless Water Heater, Dryer, Oven/Range, Refrigerator, Washer
Standard status
Active
Size
1,440 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6133
Utilities
Heating system
Oil
Cooling system
Window Unit(s)
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate
Building materials
Dry Wall, Shingles
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Spectrum Real Estate Consultants Team
(401) 334-3334
Added: Oct 22, 2025
Changed: Aug 20
Last Checked: Aug 23 at 4:06PM
MLS# 1398348
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.
Investment Insights
Based on property information with market context.
A turnkey package offering a 1,440-square-foot, 3-bedroom, 2-bath single-family home together with The Casual Inn. The residence has been maintained for move-in readiness, including fully renovated bathrooms and original hardwood floors in the living areas, with additional flooring expected under kitchen and upstairs carpeting. Reported upgrades include a new roof and second-floor windows from 2012. Laundry is located in the basement, and the property includes two off-street parking spaces.
The sale is structured so that both parcels must convey together. The restaurant included in the package is identified as The Casual Inn, described in the remarks as a neighborhood option steps away from the home. The property is listed under zoning GB.
Overall, the offering combines a live-in home configuration with an operational restaurant parcel conveyed as part of the same transaction.
The sale is structured so that both parcels must convey together. The restaurant included in the package is identified as The Casual Inn, described in the remarks as a neighborhood option steps away from the home. The property is listed under zoning GB.
Overall, the offering combines a live-in home configuration with an operational restaurant parcel conveyed as part of the same transaction.
Key Highlights
- 1,440 SF single‑family home with 3 bedrooms and 2 bathrooms (Year built: 1900)
- Both parcels must convey together: 2 Wilson St home plus The Casual Inn (MLS 1398420)
- Primary suite includes double‑door closet and tiled primary bath with jacuzzi tub
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
$25,558
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
3.01%
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%
$511,160
$511.2K
Cap Rate 7%
$365,114
$365.1K
Cap Rate 9%
$283,978
$284.0K
Market Conditions
NOI Build-Up for 1,440 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
$35.4K $24.60/SF
− Vacancy
−$1.3K −$0.93/SF
EGI
$34.1K $23.67/SF
− OpEx
−$8.5K −$5.92/SF
NOI
$25.6K $17.75/SF
Area
Bristol County, RI
Vacancy
3.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
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%
$511,160
Cap Rate 7%
$365,114
Cap Rate 9%
$283,978
Alternative Uses
Best Use
Specialty Retail
$365.1K
$319.5K – $426.0K
NOI $25,558 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$312.0K
$273.0K – $364.0K
NOI $21,841 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$481.8K
$421.5K – $562.1K
NOI $33,723 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
SUBWAY
Dining
2,786 visits/mo
0.5 miles
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Turnkey 3BR/2BA single-family home packaged with a nearby restaurant, with two off-street parking spaces.
Where is this single family property located?
The property is located at 2 Wilson Street Bristol, RI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 1,440 SF single‑family home with 3 bedrooms and 2 bathrooms (Year built: 1900); Both parcels must convey together: 2 Wilson St home plus The Casual Inn (MLS 1398420); Primary suite includes double‑door closet and tiled primary bath with jacuzzi tub
