Duplex with Historic
22 South Avenue, Tiverton, RI 02878
For Sale
$839,000
Pending
Residential Income, Tiverton, RI
Property Size2,070 SF
Lot Size0.29 Acres
Days on Market99
Property Features for 22 South Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Window features
Patio and Porch features
Interior features
Exterior features
Basement
Appliances
Subdivision
Lot features
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Amenities
sunroom
greenhouse
potting shed
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Buildings
Listing Agency:
Hearth & Harbor Realty
(401) 816-5187
Listed By:
Carol Guimond
(401) 418-0462
Added: Aug 6
Changed: Nov 4
Last Checked: Nov 12 at 11:06PM
MLS# 1419975
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.
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Investment Insights
Based on property information with market context.
Built in 1890, this Tiverton duplex contains two units with more than 1,000 square feet of living space each and flexible layouts with two to three bedrooms. Interior features include hardwood flooring, high ceilings, built-ins, and a sunroom. The 896-square-foot finished barn has exposed beams and hardwood floors; the property also includes a three-bay garage, potting shed, and greenhouse. Updates include replacement windows with Azek trim and improvements to the heating and mechanical systems.
The 0.287-acre property is in Tiverton’s Stonebridge area, near marinas, the Tiverton Yacht Club, Coastal Roasters, and Grinnell’s Beach. The residence dates to approximately 1890, and the barn previously served as Tiverton’s first fire station.
The 0.287-acre property is in Tiverton’s Stonebridge area, near marinas, the Tiverton Yacht Club, Coastal Roasters, and Grinnell’s Beach. The residence dates to approximately 1890, and the barn previously served as Tiverton’s first fire station.
Key Highlights
- Two‑unit property with 2,070 square feet of reported property area
- Each unit offers more than 1,000 square feet and a flexible two- to three‑bedroom layout
- Finished 896‑square‑foot barn with exposed beams and hardwood floors
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 finished barn, a three-bay garage, and garden structures.
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‑unit property with 2,070 square feet of reported property area; Each unit offers more than 1,000 square feet and a flexible two- to three‑bedroom layout; Finished 896‑square‑foot barn with exposed beams and hardwood floors
