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    Well-Maintained Two-Family Property Title is generated by Realmo AI

    307 Church Street, Richmond, RI 02894

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    Claim this Listing
    Pending
    $445,000

    MULTI_FAMILY - Richmond, RI

    Property size:
    4,164 SF
    Lot size:
    0.43 Acres
    Added:
    Apr 9, 2026
    Days on Market:
    37
    Last Refresh:
    May 15 at 9:06 am

    Property Features for 307 Church Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Basement, Bedroom 2, Bedroom 6
    Parking
    8
    Parking features
    Open
    Interior features
    Attic Storage, Insulation (Unknown)
    Basement
    Unfinished, Full
    Appliances
    Dryer, Microwave, Oven/Range, Refrigerator, Washer
    Standard status
    Pending
    Size
    4,164 SF
    Lot size
    0.43 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5741

    Utilities

    Sewer type
    Cesspool
    Heating system
    Forced Air, Oil
    Cooling system
    Wall Unit(s)
    Water source
    Well

    Building Details

    Year built
    1890
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Carpet, Tile - Ceramic
    Building materials
    Vinyl Siding
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Chad Dupuis
    Chad Dupuis

    Listing agent Chad Dupuis License #RES.0028718

    Listing office Coldwell Banker Coastal Homes 1182 Boston Neck Road, Westerly, RI

    Listing date Apr 9, 2026

    MLS# 1409722 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

    • Two‑family property: Ideal for owner‑occupancy with rental income potential.
    • Separate private basements with washer and dryer for each unit.
    • Separate parking for each unit plus a two‑car garage.
    • Fenced‑in backyard.
    • One unit features a sunroom, the other a deck.
    • Spacious units with 3 bedrooms, kitchen, dining room, living room, and full bath.

    Overview

    This well-maintained two-family property presents an opportunity for both investment and owner occupancy. Each unit features a functional layout with a kitchen, dining room, living room, and a full bath on the first floor. The second floor of each unit includes three bedrooms. Both units have private basements equipped with a washer and dryer. One unit includes a sunroom, while the other features a deck. The property also has a fenced backyard and separate parking for each unit, plus a two-car garage for one side. Located in Richmond, RI, this property offers versatility and value for expanding an investment portfolio or generating rental income while living in one of the units. The lot size is 0.43 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Richmond
    County
    Washington
    State
    Rhode Island
    Longitude
    -71.718758
    Latitude
    41.437485

    Nearby Similar for Sale

    • $600,000
      1,671 SF

      Mixed-Use Building on 1.2 Acres

      Mixed-use property with retail and residential potential in Richmond, RI.
      388 Church Street, Richmond, RI 02894
      View Details
    • $1,300
      2,975 SF

      Functional Flex Space Unit

      Spacious flex unit with high ceilings and garage door.
      502 Switch Road, Richmond, RI 02832
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family property with investment potential and owner occupant flexibility.
    Where is this duplex located?
    The property is located at 307 Church Street Richmond, RI.
    What is the asking price?
    The asking price for this property is $445,000.
    What are key features of this property?
    This property features: Two‑family property: Ideal for owner‑occupancy with rental income potential.; Separate private basements with washer and dryer for each unit.; Separate parking for each unit plus a two‑car garage.
    (401) 596-6333
    We can help!
    Listing Contact
    Chad Dupuis
    Chad Dupuis
    Real Estate License ID: RES.0028718
    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.

    More about this property
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