Two-Unit
New
For Sale
$440,000
27 South Street, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size1,536 SF
Lot Size0.22 Acres
Price / SF$286.46
Days on Market7
Property Features for 27 South Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Parking
3
Parking features
None
Basement
Crawl Space
Appliances
Electric Water Heater
Standard status
Active
Size
1,536 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4289
Utilities
Heating system
Baseboard, Electric (Heating)
Building Details
Year built
1982
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Wood
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 5 at 5:06PM
MLS# 1424524
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.
Built in 1982, this wood-frame duplex contains 1,536 square feet across two residences. Each unit has two bedrooms and one full bathroom. The 0.215-acre property has electric baseboard heat, carpet and laminate flooring, and an electric water heater. No parking is listed.
The West Warwick property is near Downtown West Warwick, Riverpoint Village, the Bald Hill Road retail corridor, Riverpoint Park, and the Washington Secondary Bike Path. Interstate 95, Route 2, and Route 117 provide area access. Providence is 15–20 minutes away, and T.F. Green Airport is 10–15 minutes away.
The West Warwick property is near Downtown West Warwick, Riverpoint Village, the Bald Hill Road retail corridor, Riverpoint Park, and the Washington Secondary Bike Path. Interstate 95, Route 2, and Route 117 provide area access. Providence is 15–20 minutes away, and T.F. Green Airport is 10–15 minutes away.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 1,536 square feet on a 0.215‑acre lot
- Built in 1982; wood construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,318
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,360
$446.4K
Cap Rate 7%
$318,829
$318.8K
Cap Rate 9%
$247,978
$248.0K
Market Conditions
NOI Build-Up for 1,536 SF
Gross rent
$34.1K $22.20/SF
− Vacancy
−$2.2K −$1.44/SF
EGI
$31.9K $20.76/SF
− OpEx
−$9.6K −$6.23/SF
NOI
$22.3K $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 Rate 5%
$446,360
Cap Rate 7%
$318,829
Cap Rate 9%
$247,978
Alternative Uses
Best Use
Multifamily LT 5
$318.8K
$279.0K – $372.0K
NOI $22,318 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$292.9K
$256.3K – $341.7K
NOI $20,503 @ 7.0% cap · market cap 4.66%
Theoretical Best
Specialty Retail
$384.7K
$336.6K – $448.8K
NOI $26,929 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
422
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 - Separate electric heating systems serve the two residences, each with a functional bedroom-and-bathroom layout.
Where is this duplex located?
The property is located at 27 South Street West Warwick, RI.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 full bathroom; 1,536 square feet on a 0.215‑acre lot; Built in 1982; wood construction
