New Duplex With
2003 Warwick Avenue, Warwick, RI 02889
For Sale
New
$849,900
Each residence has separate water, sewer, gas, and electric service.
Property Size3,600 SF
Price / SF$236.08
Days on Market7
Property Features for 2003 Warwick Avenue
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
RI Real Estate Services
(401) 885-5400
Listed By:
Nicholas Varras · License #RES.0047760
(401) 486-9287
Source:
Lockandkeyre
Added: Nov 1
Changed: Nov 6
Last Checked: Nov 6 at 9:34AM
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 RI Real Estate Services
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Investment Insights
Based on property information with market context.
This 2026-construction duplex is being built with two residences, each offering 1,800 square feet, three bedrooms, and 1.5 bathrooms. Open living areas provide the main gathering space, while laundry rooms are located on the bedroom level. Each unit will have high-efficiency gas heat and hot water, central air conditioning, and an oversized garage.
The property occupies a nearly 13,000-square-foot lot. Separate water, sewer, gas, and electric service serves each residence. Landscaping, fencing, patios, and driveways are planned for completion before closing.
The property occupies a nearly 13,000-square-foot lot. Separate water, sewer, gas, and electric service serves each residence. Landscaping, fencing, patios, and driveways are planned for completion before closing.
Key Highlights
- Two residences, each with 1,800 square feet, 3 bedrooms, and 1.5 bathrooms
- Nearly 13,000‑square‑foot lot
- Separate water, sewer, gas, and electric service for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,308
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,160
$1.0M
Cap Rate 7%
$747,257
$747.3K
Cap Rate 9%
$581,200
$581.2K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$79.9K $22.20/SF
− Vacancy
−$5.2K −$1.44/SF
EGI
$74.7K $20.76/SF
− OpEx
−$22.4K −$6.23/SF
NOI
$52.3K $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%
$1,046,160
Cap Rate 7%
$747,257
Cap Rate 9%
$581,200
Alternative Uses
Best Use
Multifamily LT 5
$747.3K
$653.9K – $871.8K
NOI $52,308 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$686.5K
$600.7K – $800.9K
NOI $48,053 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$901.6K
$788.9K – $1.05M
NOI $63,115 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
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Business Placement
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Kent County, RI
Properties on Market for Duplexes in Kent County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has separate water, sewer, gas, and electric service.
Where is this duplex located?
The property is located at 2003 Warwick Avenue Warwick, 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: Two residences, each with 1,800 square feet, 3 bedrooms, and 1.5 bathrooms; Nearly 13,000‑square‑foot lot; Separate water, sewer, gas, and electric service for each unit
