Duplex with Large
For Sale
$350,000
Pending
2000 Mendon Road, Woonsocket, RI 02864
Two-family residence with separate living areas, basement laundry, and a substantial rear yard.
Property Size1,264 SF
Lot Size0.22 Acres
Days on Market9
Property Features for 2000 Mendon Road
General Information
Standard status
Pending
Size
1,264 SF
Lot size
0.22 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Amenities
fireplace
laundry in basement
garage
Building Details
Year Built
1940
Buildings
1
Stories
2
Listing Agency:
CrossRoads Real Estate Group
(401) 766-7545
Listed By:
Bob Martin
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 25
Last Checked: Aug 25 at 6:37AM
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 CrossRoads Real Estate Group
Investment Insights
Based on property information with market context.
This two-family property, built in 1940, provides 1,264 square feet of residential space across two levels. The first-floor unit includes an eat-in kitchen, living room with fireplace, bedroom, and an additional room that could accommodate a second bedroom with closet installation. The upper unit offers a kitchen and living area along with one bedroom.
A basement provides laundry facilities, partial finished space, and an additional bathroom. The property sits on an oversized lot exceeding 9,500 square feet and includes a large garage and expansive rear yard. Vinyl replacement windows and siding are in place. Located at 2000 Mendon Road in Woonsocket, Rhode Island, the property is described as eligible for FHA or VA financing.
A basement provides laundry facilities, partial finished space, and an additional bathroom. The property sits on an oversized lot exceeding 9,500 square feet and includes a large garage and expansive rear yard. Vinyl replacement windows and siding are in place. Located at 2000 Mendon Road in Woonsocket, Rhode Island, the property is described as eligible for FHA or VA financing.
Key Highlights
- Two‑family property with 1,264 square feet of residential space
- Oversized 9,500+ sq ft lot with a large rear yard
- First‑floor layout includes a bedroom plus an additional room suitable for bedroom conversion
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
$21,046
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
6.01%
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%
$420,920
$420.9K
Cap Rate 7%
$300,657
$300.7K
Cap Rate 9%
$233,844
$233.8K
Market Conditions
NOI Build-Up for 1,264 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
$32.2K $25.44/SF
− Vacancy
−$2.1K −$1.65/SF
EGI
$30.1K $23.79/SF
− OpEx
−$9.0K −$7.14/SF
NOI
$21.0K $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%
$420,920
Cap Rate 7%
$300,657
Cap Rate 9%
$233,844
Alternative Uses
Best Use
Multifamily LT 5
$300.7K
$263.1K – $350.8K
NOI $21,046 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$238.6K
$208.8K – $278.4K
NOI $16,703 @ 7.0% cap · market cap 4.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
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-family residence with separate living areas, basement laundry, and a substantial rear yard.
Where is this duplex located?
The property is located at 2000 Mendon Road Woonsocket, RI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑family property with 1,264 square feet of residential space; Oversized 9,500+ sq ft lot with a large rear yard; First‑floor layout includes a bedroom plus an additional room suitable for bedroom conversion
