Two-Family Residential Income
271 Chapel Street Burrillville, RI 02830
271 Chapel Street, Burrillville, RI, 02830
$445,000
For Sale
$445,000
Well-maintained two-family home with a vacant 2-bedroom unit, a 1-bedroom unit, and off-street parking.
Property Size1,728 SF
Price / SF$257.52
Days on Market8
Property Features for 271 Chapel Street
General Information
- Standard status
- Active
- Size
- 1,728 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1986
Listing Agency
KEY Real Estate Services
(401) 661-9040
Listed by
Team KEY
Source
Lockandkeyre
Added: Jul 13 Updated: Jul 18 at 2:05 am Checked: Jul 20 at 4:03 am
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 KEY Real Estate Services
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers two separate residential units, including a vacant 2-bedroom unit. The spacious 2-bedroom unit includes some newer flooring and direct access to a low-maintenance Trex deck. The second unit is a comfortable 1-bedroom layout and is set up to provide immediate rental income. Exterior improvements include maintenance-free vinyl siding, and the property also features a versatile outbuilding for additional storage or workshop use.
The property is located at 271 Chapel Street in Burrillville, RI 02830, with ample off-street parking available.
From a configuration standpoint, it presents an owner-occupant or investor structure with one unit available for immediate occupancy and the other unit designed for ongoing rental use.
The property is located at 271 Chapel Street in Burrillville, RI 02830, with ample off-street parking available.
From a configuration standpoint, it presents an owner-occupant or investor structure with one unit available for immediate occupancy and the other unit designed for ongoing rental use.
Key Highlights
- Two‑family home built in 1986 with a vacant 2‑bedroom unit and an occupied 1‑bedroom unit
- Vacant 2‑bedroom unit includes newer flooring and access to a low‑maintenance Trex deck
- Vinyl siding exterior with ample off‑street parking
Local 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 | $44.0k | $25.44 |
| − Vacancy | −$2.9k | −$1.65 |
| EGI | $41.1k | $23.79 |
| − OpEx | −$12.3k | −$7.14 |
| NOI | $28.8k | $16.65 |
1,728 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$411.0K
$359.7K – $479.5K
NOI $28,772 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$326.2K
$285.4K – $380.6K
NOI $22,835 @ 7.0% cap · market cap 5.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with a vacant 2-bedroom unit, a 1-bedroom unit, and off-street parking.
Where is this duplex located?
The property is located at 271 Chapel Street Burrillville, 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: Two‑family home built in 1986 with a vacant 2‑bedroom unit and an occupied 1‑bedroom unit; Vacant 2‑bedroom unit includes newer flooring and access to a low‑maintenance Trex deck; Vinyl siding exterior with ample off‑street parking
