2-Unit Duplex with Updated
New
For Sale
$559,000
209 River Road, Lincoln, RI 02865
Residential Income, Lincoln, RI
Property Size3,279 SF
Lot Size0.23 Acres
Price / SF$170.48
Days on Market3
Property Features for 209 River Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL9
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4
Parking
8
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Paneled), Wall (Plaster), Cedar Closet(s), Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
Exterior features
Porch
Basement
Storage Space, Full, Unfinished
Appliances
Microwave, Oven, Range, Refrigerator, Gas Water Heater
Subdivision
Lonsdale
Lot features
Corner Lot, Paved Driveway, Sidewalks
Standard status
Active
Size
3,279 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3949
Utilities
Heating system
Baseboard, Space Heater, Natural Gas
Building Details
Year built
1933
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Carpet, Vinyl
Building materials
Dry Wall, Paneled, Plaster, Vinyl Siding
Listing Agency:
Re/Max Town & Country · RE/MAX International
(401) 333-0020
Listed By:
Blanchet Group
(401) 335-3344
Added: Oct 3
Last Checked: Oct 5 at 4:06PM
MLS# 1425039
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.
Investment Insights
Based on property information with market context.
This 1933 duplex at 209 River Road contains 3,279 square feet across two residences, each with two bedrooms. The first-floor apartment has an updated kitchen with granite counters and LVP flooring, along with an updated bath. A long-term tenant occupies the upper unit. Other reported improvements include replacement windows, new electrical service, updated plumbing, newer gas hot water tanks, and added insulation. Vinyl siding and a porch are among the exterior features.
The property occupies a 0.23-acre corner lot in Lincoln and is zoned RL9. The heating system includes natural gas, baseboard, and space-heater components.
The property occupies a 0.23-acre corner lot in Lincoln and is zoned RL9. The heating system includes natural gas, baseboard, and space-heater components.
Key Highlights
- Two residences, each with two bedrooms
- 3,279‑square‑foot duplex on a 0.23‑acre corner lot
- Long‑term tenant in the upper apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,330
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,600
$866.6K
Cap Rate 7%
$619,000
$619.0K
Cap Rate 9%
$481,444
$481.4K
Market Conditions
NOI Build-Up for 3,279 SF
Gross rent
$83.8K $25.56/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$78.8K $24.03/SF
− OpEx
−$35.5K −$10.81/SF
NOI
$43.3K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,600
Cap Rate 7%
$619,000
Cap Rate 9%
$481,444
Alternative Uses
Best Use
Multifamily LT 5
$780.0K
$682.5K – $910.0K
NOI $54,597 @ 7.0% cap · market cap 9.77%
Second Best
Apartment 5plus
$619.0K
$541.6K – $722.2K
NOI $43,330 @ 7.0% cap · market cap 7.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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 - Two separate residences offer rental occupancy upstairs and an updated kitchen and bath on the first floor.
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 residences, each with two bedrooms; 3,279‑square‑foot duplex on a 0.23‑acre corner lot; Long‑term tenant in the upper apartment
