Two-Unit Duplex with
29 Pleasant Street, Cumberland, RI 02864
For Sale
New
$599,000
Each residence has in-unit laundry and a two-bedroom, one-bathroom layout.
Property Size1,789 SF
Price / SF$334.82
Days on Market6
Property Features for 29 Pleasant Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
SERHANT.
(401) 382-0600
Listed By:
Emma Parker · License RI RES.0044895
(401) 965-3142
Source:
Lockandkeyre
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 8 at 5:03AM
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 SERHANT.
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Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains two residences, each with two bedrooms, one full bathroom, and in-unit laundry. Interior work includes refinished hardwood flooring and fresh paint. The first-floor unit has granite kitchen countertops, newer appliances, and direct access to the basement; the upstairs residence includes a spacious kitchen. A farmer’s porch, vinyl siding, updated windows, and a detached two-car garage complete the property.
The property is near shopping, dining, and major commuter routes in Cumberland.
The property is near shopping, dining, and major commuter routes in Cumberland.
Key Highlights
- Two units, each with two bedrooms and one full bathroom
- In‑unit laundry in both residences
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,788
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,760
$595.8K
Cap Rate 7%
$425,543
$425.5K
Cap Rate 9%
$330,978
$331.0K
Market Conditions
NOI Build-Up for 1,789 SF
Gross rent
$45.5K $25.44/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$42.6K $23.79/SF
− OpEx
−$12.8K −$7.14/SF
NOI
$29.8K $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%
$595,760
Cap Rate 7%
$425,543
Cap Rate 9%
$330,978
Alternative Uses
Best Use
Multifamily LT 5
$425.5K
$372.4K – $496.5K
NOI $29,788 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$337.7K
$295.5K – $394.0K
NOI $23,641 @ 7.0% cap · market cap 3.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
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Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Providence County, RI
Properties on Market for Duplexes in Providence County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has in-unit laundry and a two-bedroom, one-bathroom layout.
Where is this duplex located?
The property is located at 29 Pleasant Street Cumberland, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two units, each with two bedrooms and one full bathroom; In‑unit laundry in both residences; Built in 1910
