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    Duplex with Two-Car Garage Title is generated by Realmo AI

    290 West Forest Avenue, Pawtucket, RI 02860

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    For Sale
    $515,000

    MULTI_FAMILY - Pawtucket, RI

    Property size:
    1,838 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $280/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 290 West Forest Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RS
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 1, Basement, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3
    Parking
    6
    Interior features
    Wall (Dry Wall), Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
    Fireplace
    1
    Basement
    Full, Storage Space, Finished
    Appliances
    Gas Water Heater
    Standard status
    Active
    Size
    1,838 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5348

    Utilities

    Heating system
    Steam, Natural Gas

    Building Details

    Year built
    1930
    Number of units
    2
    Flooring type
    Hardwood, Carpet
    Building materials
    Dry Wall, Plaster, Vinyl Siding

    We can help!

    Listing Contact
    Michelle Cartwright

    Listing agent Michelle Cartwright License #224874

    Listing office Re/Max River's Edge 300 County Road, Barrington, RI

    Listing date Jun 3, 2026

    MLS# 1414073 Listing URL

    Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2‑unit home built in 1930, offering a first‑floor layout with fireplaced living room and dining room
    • First‑floor features hardwood floors and a deck overlooking the backyard
    • Second‑floor unit includes 2 bedrooms plus a home office
    • Heating includes steam and natural gas; gas water heater
    • Vinyl siding with wall construction of dry wall and plaster; fireplace available
    • Includes a two‑car garage and ample off‑street parking

    Overview

    This duplex offers two separate residential units, each with generous living space. The first-floor unit includes a fireplaced living room, dining room, hardwood floors, and a deck that overlooks the backyard. The second-floor unit features two bedrooms plus a home office, providing flexibility for a variety of household needs. Updates noted in the remarks include a young roof, windows, and siding.

    Set on West Forest Avenue in Pawtucket, RI, the property is in an RS-zoned residential setting surrounded by owner-occupied homes. The home includes a two-car garage and ample off-street parking. The listing also highlights an easy commuter location with access to major routes, shopping, and other local amenities.

    For buyers or owner-occupants, this layout can support multi-generational living or shared expenses while maintaining separate living areas. For investors, the two-unit configuration provides two income-producing residences within one property. With the exterior improvements noted and the practical parking and deck features already in place, the duplex presents a straightforward option for those seeking a maintained residential income property.

    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 $46.8k $25.44
    − Vacancy −$3.0k −$1.65
    EGI $43.7k $23.79
    − OpEx −$13.1k −$7.14
    NOI $30.6k $16.65
    1,838 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $437.2K
    $382.6K – $510.1K (±1% cap)
    NOI $30,604 @ 7.0% cap · market cap 5.94%
    Second Best
    Apartment 5plus
    $347.0K
    $303.6K – $404.8K (±1% cap)
    NOI $24,288 @ 7.0% cap · market cap 4.72%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pawtucket
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.415611
    Latitude
    41.869165

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    FAQs

    What type of property is this?
    Duplex - Two-unit residential property with deck, fireplace, and ample off-street parking, located on a convenient commuter route.
    Where is this duplex located?
    The property is located at 290 West Forest Avenue Pawtucket, RI.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: 2‑unit home built in 1930, offering a first‑floor layout with fireplaced living room and dining room; First‑floor features hardwood floors and a deck overlooking the backyard; Second‑floor unit includes 2 bedrooms plus a home office
    (401) 245-2000
    We can help!
    Listing Contact
    Michelle Cartwright
    Real Estate License ID: 224874
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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