Waterfront Triplex with
For Sale
$1,870,000
Pending
219 Nanaquaket Road, Tiverton, RI 02878
Residential Income, Tiverton, RI
Property Size4,904 SF
Lot Size3.80 Acres
Days on Market459
Property Features for 219 Nanaquaket Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-120
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Basement, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking
8
Window features
Skylight(s)
Interior features
Wall (Plaster), Cathedral Ceilings, Stairs, Plumbing (Copper)
Fireplace
1
Basement
Full, Storage Space, Unfinished
Appliances
Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
Subdivision
South Tiverton
Lot features
Local Historic District, Horse Permitted, Out Building, Paved Driveway, Wooded
View
Water
Standard status
Pending
Size
4,904 SF
Lot size
3.80 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12419
Utilities
Sewer type
Cesspool
Heating system
Radiant, Steam, Natural Gas, Oil, Zoned
Water source
Well
Water front features
Waterfront
Water front
1
Amenities
in-ground pool
private nature path
vegetable garden
open fields
detached garage
chicken coops
wrap-around farmhouse porch
Building Details
Year built
1890
Floors in Building
2
Number of units
3
Flooring type
Tile - Ceramic, Hardwood
Building materials
Plaster, Clapboard
Listing Agency:
Exp Realty
(888) 315-3445
Listed By:
Amber Poirier Donahue
(954) 210-2514
Added: May 22, 2025
Changed: Aug 20
Last Checked: Aug 23 at 10:06AM
MLS# 1378846
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 4,904-square-foot triplex property, built in 1890, occupies 3.8 acres and includes a primary residence, a separate in-law wing, and a rear studio cottage. The main residence features two wings, with one arranged for the owner's living space and the other offering a private entrance and kitchen. The cottage includes vaulted ceilings, a full bathroom, and a rustic kitchen. Newer roofs serve all structures.
Waterfront grounds overlook the Sakonnet River and include an in-ground pool, a wooded nature path, vegetable garden, open fields, chicken coops, and a detached garage. A wrap-around farmhouse porch faces west toward the water. Interior features include plaster walls, hardwood and ceramic tile flooring, copper plumbing, a fireplace, and zoned radiant and steam heating. The property is served by a well and cesspool and is zoned R-120. It is being sold in AS-IS condition.
Waterfront grounds overlook the Sakonnet River and include an in-ground pool, a wooded nature path, vegetable garden, open fields, chicken coops, and a detached garage. A wrap-around farmhouse porch faces west toward the water. Interior features include plaster walls, hardwood and ceramic tile flooring, copper plumbing, a fireplace, and zoned radiant and steam heating. The property is served by a well and cesspool and is zoned R-120. It is being sold in AS-IS condition.
Key Highlights
- 3.8‑acre waterfront property with 4,904 square feet of improvements
- Three independent living areas: main residence, in‑law wing, and studio cottage
- Rear cottage includes vaulted ceilings, full bath, and rustic kitchen
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
$81,908
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
4.38%
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%
$1,638,160
$1.6M
Cap Rate 7%
$1,170,114
$1.2M
Cap Rate 9%
$910,089
$910.1K
Market Conditions
NOI Build-Up for 4,904 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
$125.3K $25.56/SF
− Vacancy
−$8.3K −$1.70/SF
EGI
$117.0K $23.86/SF
− OpEx
−$35.1K −$7.16/SF
NOI
$81.9K $16.70/SF
Area
Newport County, RI
Vacancy
6.65%
Lease Rate
$25.56 /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%
$1,638,160
Cap Rate 7%
$1,170,114
Cap Rate 9%
$910,089
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.37M
NOI $81,908 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$1.04M
$910.6K – $1.21M
NOI $72,844 @ 7.0% cap · market cap 3.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 02878, RI
16,359
Population
7,747
Households
2.1
Avg Household Size
50
Median Age
40%
College-Educated
93%
High-School Grad
29.1 sq mi
ZIP Area
562
Density / Sq Mi
$99,542
Median Household Income
$49,228
Median Earnings
$1,228
Median Rent
$367,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three independent living areas accompany a historic waterfront estate with a pool, detached garage, and accessory outbuildings.
Where is this triplex located?
The property is located at 219 Nanaquaket Road Tiverton, RI.
What is the asking price?
The asking price for this property is $1,870,000.
What are key features of this property?
This property features: 3.8‑acre waterfront property with 4,904 square feet of improvements; Three independent living areas: main residence, in‑law wing, and studio cottage; Rear cottage includes vaulted ceilings, full bath, and rustic kitchen
