Two-Unit Duplex with
For Sale
$880,000
23 Wood Street, Warwick, RI 02889
Both residences include private laundry hookups and separate basement space.
Property Size2,400 SF
Price / SF$366.67
Days on Market59
Property Features for 23 Wood Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,200
Amenities
laundry area
Building Details
Building Size
2,400 SF
Year Built
2026
Listing Agency:
Coldwell Banker Realty
Listed By:
The Fooks Team
(401) 681-2508
Source:
Cotepartnersrealty
Added: Sep 2
Changed: Oct 26
Last Checked: Oct 26 at 1:48PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2026 duplex contains two residences, each arranged with two bedrooms and one-and-a-half bathrooms. Both units have a full basement and a designated laundry area with hookups. The property also carries a one-year builder’s warranty.
The building is 1/3 of a mile from the beach and 1/2 mile from the marina. Nearby outdoor amenities include state parks, Warwick City Park, bike paths, and walking and hiking trails.
The building is 1/3 of a mile from the beach and 1/2 mile from the marina. Nearby outdoor amenities include state parks, Warwick City Park, bike paths, and walking and hiking trails.
Key Highlights
- Two units, each with 2 bedrooms and 1&1/2 bathrooms
- Built in 2026 with a 1 year builder’s warranty
- Each residence includes a full basement and laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,872
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,440
$697.4K
Cap Rate 7%
$498,171
$498.2K
Cap Rate 9%
$387,467
$387.5K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$53.3K $22.20/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$49.8K $20.76/SF
− OpEx
−$14.9K −$6.23/SF
NOI
$34.9K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,440
Cap Rate 7%
$498,171
Cap Rate 9%
$387,467
Alternative Uses
Best Use
Multifamily LT 5
$498.2K
$435.9K – $581.2K
NOI $34,872 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$457.6K
$400.4K – $533.9K
NOI $32,035 @ 7.0% cap · market cap 3.64%
Theoretical Best
Specialty Retail
$601.1K
$526.0K – $701.3K
NOI $42,077 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 02889, RI
28,277
Population
11,947
Households
2.4
Avg Household Size
44
Median Age
26%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
3,327
Density / Sq Mi
$85,617
Median Household Income
$50,988
Median Earnings
$1,216
Median Rent
$299,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private laundry hookups and separate basement space.
Where is this duplex located?
The property is located at 23 Wood Street Warwick, RI.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1&1/2 bathrooms; Built in 2026 with a 1 year builder’s warranty; Each residence includes a full basement and laundry hookups
