Building Details

Year Built 1933

Buildings 1

Listing Agency: RE/MAX Town & Country Show Phone

Listed By: Debra Blanchet Show Phone

Source: Lockandkeyre

Added: Oct 3 Changed: Oct 13 Last Checked: Oct 12 at 7:45PM

Report an Issue

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 RE/MAX Town & Country

Investment Insights

Based on property information with market context.

This 1,872-square-foot duplex, built in 1933, contains two units with two bedrooms apiece. The first-floor residence has an updated kitchen with granite countertops and LVP flooring, along with an updated bathroom. The second-floor unit is occupied by a long-term tenant.

Property improvements include replacement windows, new insulation, updated plumbing, new electrical service, and newer gas hot water tanks. Vinyl siding and a corner-lot setting complete the property. The site measures more than 10,000 square feet and is zoned RL9.

Key Highlights

• Two units, each with two bedrooms
• 1,872‑square‑foot building constructed in 1933
• First‑floor kitchen updated with granite countertops and LVP flooring

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,170

Cap Rate

5.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$623,400 $623.4K

Cap Rate 7%

$445,286 $445.3K

Cap Rate 9%

$346,333 $346.3K

Market Conditions

NOI Build-Up for 1,872 SF

Gross rent

$47.6K $25.44/SF

− Vacancy

−$3.1K −$1.65/SF

EGI

$44.5K $23.79/SF

− OpEx

−$13.4K −$7.14/SF

NOI

$31.2K $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 Rate 5%

$623,400

Cap Rate 7%

$445,286

Cap Rate 9%

$346,333

Alternative Uses

Best Use

Multifamily LT 5

$445.3K

$389.6K – $519.5K (±1% cap)

NOI $31,170 @ 7.0% cap · market cap 5.58%

Second Best

Apartment 5plus

$353.4K

$309.2K – $412.3K (±1% cap)

NOI $24,738 @ 7.0% cap · market cap 4.43%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Real Estate Agency Pharmacy Building Supply HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

229

Businesses Nearby

Explore this area Business Placement

Demographics for 02865, RI

17,902

Population

7,079

Households

2.5

Avg Household Size

45

Median Age

48%

College-Educated

92%

High-School Grad

16.5 sq mi

ZIP Area

1,085

Density / Sq Mi

$117,042

Median Household Income

$59,949

Median Earnings

$1,206

Median Rent

$427,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Two-Bedroom Duplex with Basements

16 Manville Ave, Lincoln, RI 02838

$649,900

3,920 SF

View details

Two-Unit Home with Outbuilding

67 Ash Street, Lincoln, RI 02865

$500,000

View details

Office/Flex Building with Loading Docks

6 Blackstone Valley Place, Bldg. 4, Lincoln, RI 02865

$1,850,000

27,512 SF

View details

Warehouse Storage Building

33 main Street, Lincoln, RI 02802

Contact for pricing

440 SF

View details

Remodeled Triplex With 5-Bay Garage

92 Spring Street, Lincoln, RI 02838

$599,900

View details

NNN Property with Long-Term Lease

549 George Washington Hwy, Lincoln, RI 02865

Contact for pricing

25,300 SF

View details

Specialty Property

48 School, Lincoln, RI 02802

$195,000

View details

Signature Office Building

25 Blackstone Valley Pl, Lincoln, RI 02865

Contact for pricing

79,950 SF

View details

6-Unit Apartment Building

95 School, Lincoln, RI 02865

Contact for pricing

View details

Established Landscaping Business for Sale

0 Wilbur Road, Lincoln, RI 02865

Contact for pricing

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two-bedroom units provide separate living spaces, with a long-term tenant in the upper residence.

Where is this duplex located?

The property is located at 209 River Road Lincoln, RI.

What is the asking price?

The asking price for this property is $559,000.

What are key features of this property?

This property features: Two units, each with two bedrooms; 1,872‑square‑foot building constructed in 1933; First‑floor kitchen updated with granite countertops and LVP flooring