Side-by-Side Duplex with Private
New
For Sale
$499,000
249 West Main Road, Middletown, RI 02842
Two one-bedroom, one-bath units are offered in a side-by-side duplex with private entrances.
Property Size1,060 SF
Price / SF$470.75
Days on Market5
Property Features for 249 West Main Road
General Information
Standard status
Active
Size
1,060 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1949
Listing Agency:
William Raveis Inspire
(401) 864-2752
Listed By:
Jeanne Allen · License #3015
Source:
Onshorerealtors
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 30 at 3:15AM
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 William Raveis Inspire
Investment Insights
Based on property information with market context.
This side-by-side duplex includes two separate one-bedroom, one-bath units. Each unit features a functional layout and its own private entrance, supporting independent day-to-day occupancy.
The property is located on the Newport line in Middletown, RI, with convenience to everyday amenities including grocery stores, department stores, home décor retailers, and restaurants. The public remarks also note proximity to Newport’s waterfront, historic attractions, and beaches.
The duplex is being sold for sale as a package together with 247 West Main (MLS # 1418571).
The property is located on the Newport line in Middletown, RI, with convenience to everyday amenities including grocery stores, department stores, home décor retailers, and restaurants. The public remarks also note proximity to Newport’s waterfront, historic attractions, and beaches.
The duplex is being sold for sale as a package together with 247 West Main (MLS # 1418571).
Key Highlights
- Two one‑bedroom, one‑bath units in a side‑by‑side duplex with private entrances
- Year built: 1949
- Located on the Newport line in Middletown for convenient access to local amenities
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 authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 02842, RI
17,115
Population
8,255
Households
2.1
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,369
Density / Sq Mi
$97,650
Median Household Income
$47,307
Median Earnings
$1,906
Median Rent
$536,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom, one-bath units are offered in a side-by-side duplex with private entrances.
Where is this duplex located?
The property is located at 249 West 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: Two one‑bedroom, one‑bath units in a side‑by‑side duplex with private entrances; Year built: 1949; Located on the Newport line in Middletown for convenient access to local amenities
