Updated Duplex with Separate
New
For Sale
$525,000
295 Magnolia Street, Cranston, RI 02910
Two distinct heating and electrical systems support independent unit operations.
Property Size3,211 SF
Price / SF$163.50
Days on Market5
Property Features for 295 Magnolia Street
General Information
Standard status
Active
Size
3,211 SF
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1904
Listing Agency:
REMAX Revolution
(401) 921-5011
Listed By:
Adam Cardinal
Source:
Lockandkeyre
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 14 at 6:01AM
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 REMAX Revolution
Investment Insights
Based on property information with market context.
This 3211-square-foot duplex, built in 1904, contains two residential units with refreshed finishes and bright living areas. The property combines traditional New England character with updated interior details, offering a move-in-ready configuration for an owner-occupant or rental use. Separate utility systems include two heating systems and two electrical services, allowing each unit’s utilities to be managed independently.
The property is located at 295 Magnolia Street in Cranston’s Auburn section, near local schools, parks, dining, shopping at Garden City Center, and major highways. Its two-unit layout and independently serviced systems provide a practical setup for residential income use or shared living arrangements.
The property is located at 295 Magnolia Street in Cranston’s Auburn section, near local schools, parks, dining, shopping at Garden City Center, and major highways. Its two-unit layout and independently serviced systems provide a practical setup for residential income use or shared living arrangements.
Key Highlights
- Two‑unit duplex with 3211 square feet of residential space
- Built in 1904 with refreshed interior finishes
- Two separate heating systems
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,432
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$848,640
$848.6K
Cap Rate 7%
$606,171
$606.2K
Cap Rate 9%
$471,467
$471.5K
Market Conditions
NOI Build-Up for 3,211 SF
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.
Gross rent
$82.1K $25.56/SF
− Vacancy
−$4.9K −$1.53/SF
EGI
$77.1K $24.03/SF
− OpEx
−$34.7K −$10.81/SF
NOI
$42.4K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$848,640
Cap Rate 7%
$606,171
Cap Rate 9%
$471,467
Alternative Uses
Best Use
Multifamily LT 5
$763.8K
$668.3K – $891.1K
NOI $53,465 @ 7.0% cap · market cap 10.18%
Second Best
Apartment 5plus
$606.2K
$530.4K – $707.2K
NOI $42,432 @ 7.0% cap · market cap 8.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
938
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct heating and electrical systems support independent unit operations.
Where is this duplex located?
The property is located at 295 Magnolia Street Cranston, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex with 3211 square feet of residential space; Built in 1904 with refreshed interior finishes; Two separate heating systems
