Duplex with Studio
New
For Sale
$379,000
223 Harrisville Main Street, Burrillville, RI 02830
Separate living areas support rental use, extended household arrangements, or a roommate setup.
Property Size1,451 SF
Price / SF$261.20
Days on Market4
Property Features for 223 Harrisville Main Street
General Information
Standard status
Active
Size
1,451 SF
Property subtype
MultiFamily
Units
Unit Mix
1 x 2BR/1BA, 1 x studio
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
fire pit
rear deck
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Coldwell Banker Realty
(401) 333-0010
Listed By:
Donna Gomes · License #RES.0034506
(401) 787-7570
Source:
Lockandkeyre
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:05AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1,451-square-foot duplex has two distinct living spaces. The first-floor residence includes two bedrooms, one full bath, and an open-plan layout. A separate studio occupies the upper level. Fresh interior paint and a recently replaced hot water heater are among the updates. The property is registered with the State of Rhode Island, with lead certificates for both units, and is served by town water and sewer.
Outdoor features include a rear deck, a spacious yard with a fire pit, and ample parking. The home is set back from the main road. The Historic Village of Harrisville, a walking path, Jesse M. Smith Town Library, Assembly Theatre, and area golf courses are nearby.
Outdoor features include a rear deck, a spacious yard with a fire pit, and ample parking. The home is set back from the main road. The Historic Village of Harrisville, a walking path, Jesse M. Smith Town Library, Assembly Theatre, and area golf courses are nearby.
Key Highlights
- Two separate living spaces: a two‑bedroom residence and an upper‑level studio
- 1,451 square feet of living area
- Both units have Rhode Island lead certificates and state registration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,160
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,200
$483.2K
Cap Rate 7%
$345,143
$345.1K
Cap Rate 9%
$268,444
$268.4K
Market Conditions
NOI Build-Up for 1,451 SF
Gross rent
$36.9K $25.44/SF
− Vacancy
−$2.4K −$1.65/SF
EGI
$34.5K $23.79/SF
− OpEx
−$10.4K −$7.14/SF
NOI
$24.2K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,200
Cap Rate 7%
$345,143
Cap Rate 9%
$268,444
Alternative Uses
Best Use
Multifamily LT 5
$345.1K
$302.0K – $402.7K
NOI $24,160 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$273.9K
$239.7K – $319.6K
NOI $19,174 @ 7.0% cap · market cap 5.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 02830, RI
6,474
Population
2,837
Households
2.3
Avg Household Size
46
Median Age
29%
College-Educated
91%
High-School Grad
20.4 sq mi
ZIP Area
317
Density / Sq Mi
$121,611
Median Household Income
$59,876
Median Earnings
$981
Median Rent
$381,200
Median Home Value
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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 - Separate living areas support rental use, extended household arrangements, or a roommate setup.
Where is this duplex located?
The property is located at 223 Harrisville Main Street Burrillville, RI.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two separate living spaces: a two‑bedroom residence and an upper‑level studio; 1,451 square feet of living area; Both units have Rhode Island lead certificates and state registration
