Two-Unit Duplex with Separate
30 Shippen Avenue, Warwick, RI 02896
For Sale
New
$525,000
One residence is leased, while the other is available for occupancy with stainless steel appliances and hardwood flooring.
Property Size2,520 SF
Price / SF$208.33
Days on Market5
Property Features for 30 Shippen Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
eXp Realty
(888) 315-3445
Listed By:
Slocum Home Team · License #38011
(401) 593-1129
Source:
Lockandkeyre
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 10:32AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This Warwick duplex contains two units, each arranged with two bedrooms and one full bathroom. The first-floor residence is vacant and includes stainless steel appliances and dark hardwood floors. The second-floor unit is leased for $2,150 per month. Built in 1941, the property also has vinyl siding and replacement windows.
A private corner lot provides a paved six-car driveway. Each unit has separate utilities, gas heat, and 100-amp electric service. The property is connected to city sewer, and a new main electrical service line has been installed.
A private corner lot provides a paved six-car driveway. Each unit has separate utilities, gas heat, and 100-amp electric service. The property is connected to city sewer, and a new main electrical service line has been installed.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- Second‑floor residence leased at $2,150 per month
- First‑floor unit is vacant; stainless steel appliances and dark hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,959
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$839,180
$839.2K
Cap Rate 7%
$599,414
$599.4K
Cap Rate 9%
$466,211
$466.2K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$64.1K $25.44/SF
− Vacancy
−$4.2K −$1.65/SF
EGI
$59.9K $23.79/SF
− OpEx
−$18.0K −$7.14/SF
NOI
$42.0K $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%
$839,180
Cap Rate 7%
$599,414
Cap Rate 9%
$466,211
Alternative Uses
Best Use
Multifamily LT 5
$599.4K
$524.5K – $699.3K
NOI $41,959 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$475.7K
$416.3K – $555.0K
NOI $33,301 @ 7.0% cap · market cap 6.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
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Business Placement
Demographics for 02896, RI
11,154
Population
4,759
Households
2.3
Avg Household Size
48
Median Age
34%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
485
Density / Sq Mi
$109,436
Median Household Income
$57,420
Median Earnings
$1,282
Median Rent
$423,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - One residence is leased, while the other is available for occupancy with stainless steel appliances and hardwood flooring.
Where is this duplex located?
The property is located at 30 Shippen Avenue Warwick, 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 units, each with 2 bedrooms and 1 full bathroom; Second‑floor residence leased at $2,150 per month; First‑floor unit is vacant; stainless steel appliances and dark hardwood floors
