New Construction
2003 Warwick Avenue, Warwick, RI 02889
For Sale
New
$849,900
Residential Income, Warwick, RI
Property Size3,600 SF
Lot Size0.30 Acres
Price / SF$236.08
Days on Market7
Property Features for 2003 Warwick Avenue
General Information
Property type
Property subtype
Property condition
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking
Parking features
Interior features
Basement
Appliances
Lot features
Standard status
Size
Lot size
Tenancy & Operations
Currently Operating
Tenant in Place
Units
RV Sites
Mobile Home Lots
Park-Owned Homes
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Utilities
Heating system
Cooling system
Amenities
laundry room
central air conditioning
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Additional Structures
Buildings
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Nicholas Varras · License #RES.0047760
(401) 486-9287
Added: Nov 1
Last Checked: Nov 7 at 1:06AM
MLS# 1425443
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.
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Investment Insights
Based on property information with market context.
This under-construction duplex contains 3,600 square feet, divided into two residences of 1,800 square feet each. Both sides are planned with three bedrooms, 1.5 bathrooms, open living areas, and a second-floor laundry room. Heating and hot water are gas-fired, with central air conditioning in each unit. Interior finishes include hardwood and ceramic tile flooring, while the appliance package lists a dishwasher, microwave, oven, range, and refrigerator.
The property occupies a 0.2984-acre lot in Warwick, Rhode Island. Oversized garages serve both residences, and the utilities for water, sewer, gas, and electric are separately metered. Landscaping, fencing, patios, and driveways are scheduled for completion before closing.
The property occupies a 0.2984-acre lot in Warwick, Rhode Island. Oversized garages serve both residences, and the utilities for water, sewer, gas, and electric are separately metered. Landscaping, fencing, patios, and driveways are scheduled for completion before closing.
Key Highlights
- Two‑unit duplex with 1,800 square feet per residence
- Each unit offers three bedrooms and 1.5 bathrooms
- Separate water, sewer, gas, and electric utilities
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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Lease Details
2
Residential units
90%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
$299,900
Median Home Value
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Market
Average Price Trend$/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 its own oversized garage, central air conditioning, and separate utility 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‑unit duplex with 1,800 square feet per residence; Each unit offers three bedrooms and 1.5 bathrooms; Separate water, sewer, gas, and electric utilities
