Duplex with Historic
22 South Avenue, Tiverton, RI 02878
For Sale
$839,000
Two residential units are complemented by a detached finished barn, garage, greenhouse, and potting shed.
Property Size2,070 SF
Price / SF$405.31
Days on Market94
Property Features for 22 South Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Attic
Interior Steps
Tub Shower
Cable TV
Porch
Paved Driveway
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Hearth & Harbor Realty
(401) 816-5187
Listed By:
Carol Guimond
(401) 418-0462
Source:
Caldwellrealtyri
Added: Aug 6
Changed: Nov 6
Last Checked: Nov 6 at 10:25PM
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 Hearth & Harbor Realty
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Investment Insights
Based on property information with market context.
Built in 1890, this RES-zoned duplex contains two units, each with more than 1,000 square feet and a flexible two- to three-bedroom layout. Interior details include hardwood floors, high ceilings, wainscoting, built-ins, vintage moldings, and a sunroom. Mechanical systems have been updated, and the property has new windows with Azek trim and updated heating.
A finished 896-square-foot barn with exposed beams and hardwood floors was formerly Tiverton’s first fire station. Additional site improvements include a three-bay garage, potting shed, and full-size greenhouse with cover. The property is in Tiverton’s Stonebridge coastal neighborhood, near marinas, the Tiverton Yacht Club, Coastal Roasters, and Grinnell’s Beach.
A finished 896-square-foot barn with exposed beams and hardwood floors was formerly Tiverton’s first fire station. Additional site improvements include a three-bay garage, potting shed, and full-size greenhouse with cover. The property is in Tiverton’s Stonebridge coastal neighborhood, near marinas, the Tiverton Yacht Club, Coastal Roasters, and Grinnell’s Beach.
Key Highlights
- Two units, each with more than 1,000 square feet and 2–3 bedrooms
- Finished 896 sq ft barn formerly used as Tiverton’s first fire station
- Three‑bay garage, potting shed, and full‑sized greenhouse with cover
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,574
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,480
$691.5K
Cap Rate 7%
$493,914
$493.9K
Cap Rate 9%
$384,156
$384.2K
Market Conditions
NOI Build-Up for 2,070 SF
Gross rent
$52.9K $25.56/SF
− Vacancy
−$3.5K −$1.70/SF
EGI
$49.4K $23.86/SF
− OpEx
−$14.8K −$7.16/SF
NOI
$34.6K $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 Rate 5%
$691,480
Cap Rate 7%
$493,914
Cap Rate 9%
$384,156
Alternative Uses
Best Use
Multifamily LT 5
$493.9K
$432.2K – $576.2K
NOI $34,574 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$439.3K
$384.4K – $512.5K
NOI $30,748 @ 7.0% cap · market cap 3.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
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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
$367,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Newport County, RI
Properties on Market for Duplexes in Newport County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units are complemented by a detached finished barn, garage, greenhouse, and potting shed.
Where is this duplex located?
The property is located at 22 South Avenue Tiverton, RI.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: Two units, each with more than 1,000 square feet and 2–3 bedrooms; Finished 896 sq ft barn formerly used as Tiverton’s first fire station; Three‑bay garage, potting shed, and full‑sized greenhouse with cover
