Two-Unit Side-by-Side
249 W Main Road Middletown, RI 02842
New
For Sale
$499,000
MULTI_FAMILY - Middletown, RI
Property Size1,060 SF
Lot Size0.13 Acres
Price / SF$470.75
Days on Market2
Property Features for 249 W Main Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- OBA
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2
- Parking
- 4
- Parking features
- None
- Window features
- Storm Window(s)
- Interior features
- Wall (Dry Wall), Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
- Basement
- Crawl Space
- Appliances
- Electric Water Heater, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 1,060 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4400
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Oil
Building Details
- Year built
- 1949
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Carpet, Vinyl
- Building materials
- Dry Wall, Masonry, Wood
Listing Agency:
William Raveis Inspire
(401) 846-3800
Listed By:
Jeanne Allen
(401) 864-2752
Added: Jul 25
Last Checked: Jul 26 at 2:06AM
MLS# 1418769
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.
Investment Insights
Based on property information with market context.
This side-by-side duplex at 249 W Main Road in Middletown, RI offers two separate one-bedroom, one-bath units. The layout includes private entrances for each unit, supporting independent day-to-day use. The property is identified for residential income purposes and totals approximately 1,060 square feet on a 0.13-acre lot.
The listing notes the home’s positioning on the Newport line and highlights convenient access to local shopping and dining options, along with proximity to Newport-area waterfront and beaches.
Zoned OBA, this duplex is also being sold as a package with 247 West Main (MLS # 1418571).
The listing notes the home’s positioning on the Newport line and highlights convenient access to local shopping and dining options, along with proximity to Newport-area waterfront and beaches.
Zoned OBA, this duplex is also being sold as a package with 247 West Main (MLS # 1418571).
Key Highlights
- Side‑by‑side duplex with two 1‑bedroom, 1‑bath units
- Each unit has a private entrance
- Public sewer and water available
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 | $27.1k | $25.56 |
| − Vacancy | −$1.8k | −$1.70 |
| EGI | $25.3k | $23.86 |
| − OpEx | −$7.6k | −$7.16 |
| NOI | $17.7k | $16.70 |
1,060 SF · lease $25.56/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$252.9K
$221.3K – $295.1K
NOI $17,704 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$224.9K
$196.8K – $262.4K
NOI $15,745 @ 7.0% cap · market cap 3.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two side-by-side one-bedroom, one-bath units with private entrances on a small lot in Middletown.
Where is this duplex located?
The property is located at 249 W Main Road Middletown, RI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two 1‑bedroom, 1‑bath units; Each unit has a private entrance; Public sewer and water available
