2-Unit Residential
29 Sherwood Road, Middletown, RI 02842
For Sale
$779,800
Both residences have two bedrooms, a full bathroom, living space, and off-street parking.
Property Size1,592 SF
Price / SF$489.82
Days on Market63
Property Features for 29 Sherwood Road
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
off-street parking
Building Details
Building Size
Year Built
Buildings
Listing Agency:
SERHANT.
Listed By:
Sheil Readyhough Team
(401) 243-7041
Source:
Pooleproperties
Added: Sep 8
Changed: Nov 7
Last Checked: Nov 8 at 4:37PM
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.
This 1,592-SF duplex in Middletown contains two residences, each with two bedrooms, one full bathroom, living space, and off-street parking. Built in 1970, the property is located on a cul-de-sac at 29 Sherwood Road.
Easton's Beach, downtown Newport, restaurants, shops, and schools are minutes away. The property also offers access to Newport Naval Station and destinations across Aquidneck Island.
Easton's Beach, downtown Newport, restaurants, shops, and schools are minutes away. The property also offers access to Newport Naval Station and destinations across Aquidneck Island.
Key Highlights
- Two residential units, each with two bedrooms and one full bathroom
- 1,592 SF property built in 1970
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,590
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,800
$531.8K
Cap Rate 7%
$379,857
$379.9K
Cap Rate 9%
$295,444
$295.4K
Market Conditions
NOI Build-Up for 1,592 SF
Gross rent
$40.7K $25.56/SF
− Vacancy
−$2.7K −$1.70/SF
EGI
$38.0K $23.86/SF
− OpEx
−$11.4K −$7.16/SF
NOI
$26.6K $16.70/SF
Area
Newport County, RI
Vacancy
6.65%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,800
Cap Rate 7%
$379,857
Cap Rate 9%
$295,444
Alternative Uses
Best Use
Multifamily LT 5
$379.9K
$332.4K – $443.2K
NOI $26,590 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,648 @ 7.0% cap · market cap 3.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
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Business Placement
Demographics for 02842, RI
17,115
Population
8,255
Households
2.1
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,369
Density / Sq Mi
$97,650
Median Household Income
$47,307
Median Earnings
$1,906
Median Rent
$536,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Newport County, RI
Properties on Market for Duplexes in Newport County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms, a full bathroom, living space, and off-street parking.
Where is this duplex located?
The property is located at 29 Sherwood Road Middletown, RI.
What is the asking price?
The asking price for this property is $779,800.
What are key features of this property?
This property features: Two residential units, each with two bedrooms and one full bathroom; 1,592 SF property built in 1970; Off‑street parking
