Two-Family
For Sale
$1,325,000
23 Union Street, Bristol, RI 02809
A historic residential property offers a flexible two-family configuration across multiple levels.
Property Size6,494 SF
Price / SF$204.03
Days on Market50
Property Features for 23 Union Street
General Information
Standard status
Active
Size
6,494 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,138
Building Details
Building Size
6,494 SF
Year Built
1806
Buildings
1
Listing Agency:
JPAR Prime Real Estate
Listed By:
Jaclyn Arruda · License #RES.0048663
(401) 525-1631
Source:
Cotepartnersrealty
Added: Sep 11
Changed: Oct 30
Last Checked: Oct 27 at 3:43AM
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 JPAR Prime Real Estate
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Investment Insights
Based on property information with market context.
Built in 1806, this duplex contains 6,494 square feet of living space arranged as a two-family property. The building includes 6 bedrooms and 5 bathrooms, with multiple levels forming its interior layout.
The property is located at 23 Union Street in Bristol, Rhode Island, on a generous lot.
The property is located at 23 Union Street in Bristol, Rhode Island, on a generous lot.
Key Highlights
- 6,494 square feet of living space
- Two‑family layout across multiple levels
- 6 bedrooms and 5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,658
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,193,160
$2.2M
Cap Rate 7%
$1,566,543
$1.6M
Cap Rate 9%
$1,218,422
$1.2M
Market Conditions
NOI Build-Up for 6,494 SF
Gross rent
$167.5K $25.80/SF
− Vacancy
−$10.9K −$1.68/SF
EGI
$156.7K $24.12/SF
− OpEx
−$47.0K −$7.24/SF
NOI
$109.7K $16.89/SF
Area
Bristol County, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,193,160
Cap Rate 7%
$1,566,543
Cap Rate 9%
$1,218,422
Alternative Uses
Best Use
Multifamily LT 5
$1.57M
$1.37M – $1.83M
NOI $109,658 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,497 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $152,082 @ 7.0% cap · market cap 11.48%
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
583
Businesses Nearby
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Business Placement
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A historic residential property offers a flexible two-family configuration across multiple levels.
Where is this duplex located?
The property is located at 23 Union Street Bristol, RI.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 6,494 square feet of living space; Two‑family layout across multiple levels; 6 bedrooms and 5 bathrooms
