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    Brick Residential Income Duplex Title is generated by Realmo AI

    3 Waumsett Avenue, Cumberland, RI 02864

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    New
    For Sale
    $650,000

    MULTI_FAMILY - Cumberland, RI

    Property size:
    6,074 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $107/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 2:06 am

    Property Features for 3 Waumsett Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-1
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 1, Basement, Bedroom 2, Bathroom 2, Bedroom 3
    Parking
    5
    Interior features
    Wall (Paneled), Wall (Plaster), Stairs, Plumbing (Copper), Insulation (Unknown)
    Fireplace
    1
    Basement
    Full, Unfinished
    Appliances
    Oven/Range, Refrigerator
    Standard status
    Active
    Size
    6,074 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    6635

    Utilities

    Sewer type
    Cesspool
    Heating system
    Oil, Baseboard
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Hardwood, Carpet, Vinyl
    Building materials
    Paneled, Plaster, Brick

    We can help!

    Listing Contact
    Kimberly Horvath

    Listing agent Kimberly Horvath

    Listing office Residential Properties Ltd. 2370 Diamond Hill Rd., RI

    Listing date Jun 4, 2026

    MLS# 1413451 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

    • Distinctive 1940 brick home with original interior details, including woodwork and built‑ins
    • Main home offers 2 bedrooms and 1 full bath
    • Detached 1‑bedroom, 1‑bath apartment above the garage adds flexibility for guests or rental use
    • Four assessor's lots included; home and garage/apartment are on two lots with two additional lots
    • Heating: oil baseboard; fireplace present
    • Public water and cesspool sewer

    Overview

    This 1940 brick residence in Cumberland offers a two-unit setup with original character throughout. The main home includes 2 bedrooms and 1 full bath, with details such as warm woodwork, built-ins, and stained-glass accents. A detached 1-bedroom, 1-bath apartment sits above the garage, providing an additional self-contained option for extended family, guests, or rental use.

    The property is positioned on a total of four assessor’s lots, totaling approximately 0.45 acres. The home and garage/apartment are located on two of the lots, while the remaining two lots provide additional space and privacy. The zoning is listed as R-1, and the buyer is responsible for conducting all due diligence regarding lot lines, zoning, subdivision potential, buildability, and permitted uses.

    For tenants and buyers, the layout supports either owner-occupancy with rental income from the detached apartment or a multi-generational living arrangement. The separate unit over the garage can also function as a private studio or workspace while maintaining separation from the main living areas. With its combination of vintage features and multi-lot configuration, this property may appeal to buyers and investors looking to evaluate how the additional lots can be used within the R-1 framework.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.398842
    Latitude
    41.936701

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    FAQs

    What type of property is this?
    Duplex - Two-unit arrangement on multiple lots offers flexible living or rental options in Cumberland’s R-1 zone.
    Where is this duplex located?
    The property is located at 3 Waumsett Avenue Cumberland, RI.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Distinctive 1940 brick home with original interior details, including woodwork and built‑ins; Main home offers 2 bedrooms and 1 full bath; Detached 1‑bedroom, 1‑bath apartment above the garage adds flexibility for guests or rental use
    (401) 439-7705
    We can help!
    Listing Contact
    Kimberly Horvath
    Learn More
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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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