Two-Family Residential Income
27 South Street West Warwick, RI 02893
New
For Sale
$450,000
Well-maintained two-family home with two separate units, each offering two bedrooms and one full bathroom.
Property Size1,536 SF
Price / SF$292.97
Days on Market5
Property Features for 27 South Street
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multifamily
Building Details
Year Built
1982
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
Source:
Lockandkeyre
Added: Jul 26
Changed: Jul 29
Last Checked: Jul 30 at 6:22AM
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 Century 21 Limitless
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers two separate units, each with two bedrooms and one full bathroom. The property includes two separate heating systems, providing independent comfort and convenience for each unit.
Located in West Warwick in an established residential neighborhood, the home is described as being just minutes from Downtown West Warwick and Riverpoint Village, with access to local restaurants, cafes, shops, and community events. It is also stated to be near the Bald Hill Road retail corridor, including Warwick Mall, grocery stores, and entertainment.
Additional access points are described as near Interstate 95, Route 2, and Route 117, with proximity to Riverpoint Park and the Washington Secondary Bike Path.
Located in West Warwick in an established residential neighborhood, the home is described as being just minutes from Downtown West Warwick and Riverpoint Village, with access to local restaurants, cafes, shops, and community events. It is also stated to be near the Bald Hill Road retail corridor, including Warwick Mall, grocery stores, and entertainment.
Additional access points are described as near Interstate 95, Route 2, and Route 117, with proximity to Riverpoint Park and the Washington Secondary Bike Path.
Key Highlights
- Well‑maintained two‑family home built in 1982 in West Warwick
- Two separate units, each with 2 bedrooms and 1 full bathroom
- Two separate heating systems for the home
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 | $34.1k | $22.20 |
| − Vacancy | −$2.2k | −$1.44 |
| EGI | $31.9k | $20.76 |
| − OpEx | −$9.6k | −$6.23 |
| NOI | $22.3k | $14.53 |
1,536 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$318.8K
$279.0K – $372.0K
NOI $22,318 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$292.9K
$256.3K – $341.7K
NOI $20,503 @ 7.0% cap · market cap 4.56%
Theoretical Best
Specialty Retail
$384.7K
$336.6K – $448.8K
NOI $26,929 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with two separate units, each offering two bedrooms and one full bathroom.
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 $450,000.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1982 in West Warwick; Two separate units, each with 2 bedrooms and 1 full bathroom; Two separate heating systems for the home
