Two-Family Duplex with
For Sale
$500,000
Pending
28 Carman St, Cranston, RI 02910
Separate heating systems and mixed hardwood and ceramic flooring serve both residences.
Property Size2,616 SF
Days on Market51
Property Features for 28 Carman St
General Information
Standard status
Pending
Size
2,616 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,948
Amenities
backyard
Building Details
Buildings
1
Listing Agency:
eXp Realty
(888) 315-3445
Listed By:
Slocum Home Team · License #38011
(401) 593-1129
Source:
Exprealty
Added: Aug 17
Changed: Sep 15
Last Checked: Oct 5 at 10:33PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 28 Carman Street in Cranston, this two-family property contains 2,616 square feet and was built in 1924. Each residence offers two bedrooms, one full bathroom, hardwood and ceramic flooring, and its own heating system. The building’s residential layout provides distinct living spaces within a duplex configuration.
The first-floor residence is expected to be delivered vacant, while the second-floor unit is occupied under a month-to-month tenancy. A spacious backyard adds outdoor area to the property. The combination of separate utilities for heating, two-bedroom unit layouts, and flexible first-floor occupancy supports both owner-occupant and rental use.
The first-floor residence is expected to be delivered vacant, while the second-floor unit is occupied under a month-to-month tenancy. A spacious backyard adds outdoor area to the property. The combination of separate utilities for heating, two-bedroom unit layouts, and flexible first-floor occupancy supports both owner-occupant and rental use.
Key Highlights
- Two‑family duplex with 2,616 square feet
- Both units include 2 bedrooms and 1 full bath
- Separate heating systems serve each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,558
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$871,160
$871.2K
Cap Rate 7%
$622,257
$622.3K
Cap Rate 9%
$483,978
$484.0K
Market Conditions
NOI Build-Up for 2,616 SF
Gross rent
$66.6K $25.44/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$62.2K $23.79/SF
− OpEx
−$18.7K −$7.14/SF
NOI
$43.6K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$871,160
Cap Rate 7%
$622,257
Cap Rate 9%
$483,978
Alternative Uses
Best Use
Multifamily LT 5
$622.3K
$544.5K – $726.0K
NOI $43,558 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$493.8K
$432.1K – $576.2K
NOI $34,569 @ 7.0% cap · market cap 6.91%
Theoretical Best
—
—
same as Best Use
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
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 02910, RI
21,907
Population
9,319
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
90%
High-School Grad
3.4 sq mi
ZIP Area
6,443
Density / Sq Mi
$85,909
Median Household Income
$47,538
Median Earnings
$1,385
Median Rent
$302,400
Median Home Value
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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 heating systems and mixed hardwood and ceramic flooring serve both residences.
Where is this duplex located?
The property is located at 28 Carman St Cranston, RI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two‑family duplex with 2,616 square feet; Both units include 2 bedrooms and 1 full bath; Separate heating systems serve each residence
