Updated Side-by-Side
For Sale
$445,000
Pending
27 Faxon St, West Warwick, RI 02893
Two renovated residential units offer practical layouts, private outdoor space, and convenient regional access.
Property Size1,477 SF
Days on Market19
Property Features for 27 Faxon St
General Information
Standard status
Pending
Size
1,477 SF
Property subtype
Residential Income
Units
Unit Mix
2BR/1BA, 2BR/1BA
Multifamily Units
2
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$5,436
Building Details
Buildings
1
Listing Agency:
Residential Properties Ltd
(401) 440-7483
Listed By:
Joe Roch
(401) 440-7483
Source:
Exprealty
Added: Jul 24
Changed: Aug 10
Last Checked: Aug 11 at 10:22AM
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 Residential Properties Ltd
Investment Insights
Based on property information with market context.
This 1,477 SF side-by-side duplex contains two residential units, each arranged with two bedrooms and one bathroom. Both sides feature laminate flooring, updated eat-in kitchens, vinyl siding, and access to a private backyard with a large patio. A new architectural-shingle roof and off-street parking add to the property’s functional configuration. Lead Certifications are available for both units.
The property is positioned at the end of a tree-lined street in the Centreville section of town. Shopping and dining along Route 2 are nearby, with access to I-95 and I-295 also noted. The two-unit layout and separate side-by-side design provide a straightforward multifamily format for continued residential use.
The property is positioned at the end of a tree-lined street in the Centreville section of town. Shopping and dining along Route 2 are nearby, with access to I-95 and I-295 also noted. The two-unit layout and separate side-by-side design provide a straightforward multifamily format for continued residential use.
Key Highlights
- Side‑by‑side duplex with two 2‑bedroom, 1‑bath units
- 1,477 SF property with laminate flooring and eat‑in kitchens
- New architectural‑shingle roof and vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,461
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,220
$429.2K
Cap Rate 7%
$306,586
$306.6K
Cap Rate 9%
$238,456
$238.5K
Market Conditions
NOI Build-Up for 1,477 SF
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.
Gross rent
$32.8K $22.20/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$30.7K $20.76/SF
− OpEx
−$9.2K −$6.23/SF
NOI
$21.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$429,220
Cap Rate 7%
$306,586
Cap Rate 9%
$238,456
Alternative Uses
Best Use
Multifamily LT 5
$306.6K
$268.3K – $357.7K
NOI $21,461 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$281.6K
$246.4K – $328.6K
NOI $19,715 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$369.9K
$323.7K – $431.6K
NOI $25,895 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
449
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
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 renovated residential units offer practical layouts, private outdoor space, and convenient regional access.
Where is this duplex located?
The property is located at 27 Faxon St West Warwick, RI.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Side‑by‑side duplex with two 2‑bedroom, 1‑bath units; 1,477 SF property with laminate flooring and eat‑in kitchens; New architectural‑shingle roof and vinyl siding
