Two-Unit Duplex
For Sale
$465,000
27 Centre Street, West Warwick, RI 02893
Built in 1880, the property accommodates owner occupancy, rental use, or multigenerational living.
Property Size3,084 SF
Price / SF$150.78
Days on Market54
Property Features for 27 Centre Street
General Information
Standard status
Active
Size
3,084 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1880
Listing Agency:
JJProperty Mgmt & Multiservice
(401) 941-2420
Listed By:
Jackie Alvarez · License #REB.0019716
(646) 391-7638
Source:
Lockandkeyre
Added: Aug 13
Changed: Oct 4
Last Checked: Oct 4 at 10:38AM
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 JJProperty Mgmt & Multiservice
Investment Insights
Based on property information with market context.
Located at 27 Centre Street in West Warwick, Rhode Island, this duplex property contains two residential units within approximately 3,084 square feet of property area. Constructed in 1880, the two-family configuration supports several established residential arrangements, including owner occupancy with rental use or multigenerational living. The property is offered for sale and is classified as a duplex within the multifamily and residential income property categories. Its two-unit layout provides a straightforward framework for evaluating residential occupancy and rental operations.
Key Highlights
- Two residential units in a duplex configuration
- Approximately 3,084 square feet of property area
- Built in 1880
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,166
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,320
$823.3K
Cap Rate 7%
$588,086
$588.1K
Cap Rate 9%
$457,400
$457.4K
Market Conditions
NOI Build-Up for 3,084 SF
Gross rent
$80.3K $26.04/SF
− Vacancy
−$5.5K −$1.77/SF
EGI
$74.8K $24.27/SF
− OpEx
−$33.7K −$10.92/SF
NOI
$41.2K $13.35/SF
Area
Kent County, RI
Vacancy
6.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,320
Cap Rate 7%
$588,086
Cap Rate 9%
$457,400
Alternative Uses
Best Use
Multifamily LT 5
$640.1K
$560.1K – $746.8K
NOI $44,810 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$588.1K
$514.6K – $686.1K
NOI $41,166 @ 7.0% cap · market cap 8.85%
Theoretical Best
Specialty Retail
$772.4K
$675.9K – $901.2K
NOI $54,069 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 1880, the property accommodates owner occupancy, rental use, or multigenerational living.
Where is this duplex located?
The property is located at 27 Centre Street West Warwick, RI.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two residential units in a duplex configuration; Approximately 3,084 square feet of property area; Built in 1880
