Two-Family Home with Finished Third
24 Pleasant Street, Westerly, RI 02891
New
MULTI_FAMILY - Westerly, RI
Type:Apartment
Property size:
2,736 SFLot size:
0.15 AcresPrice / SF:
$200/SF- Added:
- Jun 26, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 24 Pleasant Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- R6
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Basement
- Parking
- 3
- Parking features
- Garage
- Interior features
- Wall (Dry Wall), Wall (Plaster), Internal Expansion, Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater, Tankless Water Heater, Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
- Standard status
- Active
- Size
- 2,736 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2537
Utilities
- Heating system
- Natural Gas
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1905
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Carpet, Vinyl, Hardwood, Laminate
- Building materials
- Dry Wall, Plaster, Aluminum Siding
Listing agent Mark Wright (401) 596-6333
Listing office Coldwell Banker Coastal Homes 29 Post Road, Westerly, RI (401) 596-6333
Listing date Jun 26, 2026
MLS# 1416370
Listing URL
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.
HighLights
- Move‑in‑ready two‑family home (built 1905) with updated flooring and efficient on‑demand heating/hot water
- First‑floor unit: 2 bedrooms and 1 full bath
- Second‑floor unit: 1 bedroom and 1 full bath plus access to finished third floor with 2 additional bedrooms and a half bath
- Third floor potential for conversion into a separate third apartment (subject to required approvals)
- Updates include newer vinyl replacement windows and low‑maintenance aluminum siding; window A/C units included
- State lead certificate on file; public water and city sewer; natural gas service; detached parking with garage
Overview
This move-in-ready two-family home offers two separate units plus a finished third-floor space. The first-floor unit has 2 bedrooms and 1 full bath. The second-floor unit includes 1 bedroom and 1 full bath, along with access to the finished third floor, which features 2 additional bedrooms and a half bath. Both units have updated durable laminate/vinyl flooring and efficient on-demand heating and hot water systems. Exterior improvements include newer vinyl replacement windows and low-maintenance aluminum siding. City water, city sewer, and natural gas are already in place, and the property has a State lead certificate.
The property is located at 24 Pleasant Street in Westerly, Rhode Island, on a 0.15-acre lot and zoned R6.
For buyers seeking an owner-occupant or investor setup, the current two-unit configuration provides straightforward rental separation while the finished third level offers additional flexibility. The third floor also presents potential for conversion into a separate third apartment, subject to any required approvals, allowing the property to better match a variety of income strategies and occupancy plans.
The property is located at 24 Pleasant Street in Westerly, Rhode Island, on a 0.15-acre lot and zoned R6.
For buyers seeking an owner-occupant or investor setup, the current two-unit configuration provides straightforward rental separation while the finished third level offers additional flexibility. The third floor also presents potential for conversion into a separate third apartment, subject to any required approvals, allowing the property to better match a variety of income strategies and occupancy plans.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.2k | $18.00 |
| − Vacancy | −$2.1k | −$0.77 |
| EGI | $47.1k | $17.23 |
| − OpEx | −$14.1k | −$5.17 |
| NOI | $33.0k | $12.06 |
2,736 SF · lease $18.00/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$471.5K
$412.5K – $550.0K
NOI $33,002 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$411.4K
$360.0K – $480.0K
NOI $28,799 @ 7.0% cap · market cap 5.25%
Theoretical Best
Healthcare Medical
$546.7K
$478.3K – $637.8K
NOI $38,266 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Westerly
- County
- Washington
- State
- Rhode Island
- Longitude
- -71.826462
- Latitude
- 41.384774
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Updated two-unit living with efficient heating, durable flooring, and a finished third level that supports flexible rental plans.
Where is this duplex located?
The property is located at 24 Pleasant Street Westerly, RI.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Move‑in‑ready two‑family home (built 1905) with updated flooring and efficient on‑demand heating/hot water; First‑floor unit: 2 bedrooms and 1 full bath; Second‑floor unit: 1 bedroom and 1 full bath plus access to finished third floor with 2 additional bedrooms and a half bath
