Two-Family Residential Income
For Sale
$679,000
22 Aiken Street, Pawtucket, RI 02861
Well-maintained two-family property with two spacious 3-bedroom units, each offering a full bath and A/C.
Property Size2,184 SF
Price / SF$310.90
Days on Market25
Property Features for 22 Aiken Street
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Amenities
hardwood floors
A/C
generous storage
low-maintenance exterior
Building Details
Year Built
2005
Listing Agency:
First Choice Real Estate Group
(401) 573-9263
Listed By:
Terry Cipolla
Source:
Lockandkeyre
Added: Jul 6
Changed: Jul 27
Last Checked: Jul 30 at 6:03AM
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 First Choice Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained two-family property features two spacious units, each with three bedrooms and one full bath. The units provide over 1,000 square feet of living space and include hardwood floors, A/C, generous storage, and thoughtful updates throughout, reflecting ongoing care and pride of ownership. The exterior is described as low-maintenance, and the property includes ample off-street parking.
Conveniently located just minutes from MA and the T, the property offers an easy commute to Boston and Providence. It is also described as close to shopping, dining, and everyday amenities.
The building is configured as two separate residential apartments within a duplex-style layout, offering an income-oriented setup for either owner-occupants or investors.
Conveniently located just minutes from MA and the T, the property offers an easy commute to Boston and Providence. It is also described as close to shopping, dining, and everyday amenities.
The building is configured as two separate residential apartments within a duplex-style layout, offering an income-oriented setup for either owner-occupants or investors.
Key Highlights
- Two‑family property built in 2005 with two separate 3‑bedroom units
- Each unit includes 1 full bath and over 1,000 sq ft of living space
- Units feature hardwood floors, A/C, and generous storage
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.6k | $25.44 |
| − Vacancy | −$3.6k | −$1.65 |
| EGI | $51.9k | $23.79 |
| − OpEx | −$15.6k | −$7.14 |
| NOI | $36.4k | $16.65 |
2,184 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$519.5K
$454.6K – $606.1K
NOI $36,365 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$412.3K
$360.8K – $481.0K
NOI $28,861 @ 7.0% cap · market cap 4.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
Explore this area
Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family property with two spacious 3-bedroom units, each offering a full bath and A/C.
Where is this duplex located?
The property is located at 22 Aiken Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Two‑family property built in 2005 with two separate 3‑bedroom units; Each unit includes 1 full bath and over 1,000 sq ft of living space; Units feature hardwood floors, A/C, and generous storage
