Duplex with Fenced
New
For Sale
$349,900
20 Spring Street, West Warwick, RI 02893
Four bedrooms and two bathrooms span a two-floor layout with separate living areas.
Property Size1,608 SF
Price / SF$217.60
Days on Market3
Property Features for 20 Spring Street
General Information
Standard status
Active
Size
1,608 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1906
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Matt Patty Team
Source:
Lockandkeyre
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 15 at 2:20AM
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 1906, this duplex contains 1,608 square feet with four bedrooms and two bathrooms. The first floor has hardwood floors, while the upper level has new carpeting. A fenced backyard provides outdoor space alongside the two-family residence.
Shopping, dining, and everyday services are a short drive away. The property’s two-level configuration and existing interior finishes offer a straightforward starting point for an owner-occupant or rental use.
Shopping, dining, and everyday services are a short drive away. The property’s two-level configuration and existing interior finishes offer a straightforward starting point for an owner-occupant or rental use.
Key Highlights
- 1,608‑square‑foot duplex with 4 bedrooms and 2 bathrooms
- Built in 1906
- Hardwood flooring on the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,364
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,280
$467.3K
Cap Rate 7%
$333,771
$333.8K
Cap Rate 9%
$259,600
$259.6K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$35.7K $22.20/SF
− Vacancy
−$2.3K −$1.44/SF
EGI
$33.4K $20.76/SF
− OpEx
−$10.0K −$6.23/SF
NOI
$23.4K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$467,280
Cap Rate 7%
$333,771
Cap Rate 9%
$259,600
Alternative Uses
Best Use
Multifamily LT 5
$333.8K
$292.1K – $389.4K
NOI $23,364 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$306.6K
$268.3K – $357.7K
NOI $21,464 @ 7.0% cap · market cap 6.13%
Theoretical Best
Specialty Retail
$402.7K
$352.4K – $469.9K
NOI $28,191 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Check the figures for this property
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 - Four bedrooms and two bathrooms span a two-floor layout with separate living areas.
Where is this duplex located?
The property is located at 20 Spring Street West Warwick, RI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,608‑square‑foot duplex with 4 bedrooms and 2 bathrooms; Built in 1906; Hardwood flooring on the first floor
