Two-Family Townhouse-Style
For Sale
$549,900
319 Main Street, Warren, RI 02885
Spacious residential income property with updated kitchens, in-unit laundry, and distinct living areas.
Property Size2,676 SF
Days on Market19
Property Features for 319 Main Street
General Information
Standard status
Active
Size
2,676 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Zoning
VB
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,752
Building Details
Building Size
2,676 SF
Year Built
1907
Buildings
1
Stories
2
Units
2
Listing Agency:
Lamacchia Realty, Inc
(508) 982-6151
Listed By:
Holly McCombs
(508) 982-6151
Source:
Liongatere
Added: Jul 24
Changed: Aug 10
Last Checked: Aug 11 at 2:28PM
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 Lamacchia Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1907, this two-family property combines a townhouse-style first residence with an updated second unit. The larger residence includes a living room, eat-in kitchen with granite countertops and stainless steel appliances, in-unit laundry, formal dining room, primary bedroom with two closets, a full bathroom, and two additional bedrooms on the second floor. The second residence offers a living room and kitchen fitted with granite countertops and stainless steel appliances.
The property is located at 319 Main Street in Warren, within walking distance of downtown shopping and restaurants as well as the East Bay Bike Path. Zoning is VB, and the layout provides two separate residential living spaces within a single multifamily asset.
The property is located at 319 Main Street in Warren, within walking distance of downtown shopping and restaurants as well as the East Bay Bike Path. Zoning is VB, and the layout provides two separate residential living spaces within a single multifamily asset.
Key Highlights
- Two‑family property built in 1907
- Townhouse‑style first unit with two additional second‑floor bedrooms
- First unit includes granite countertops, stainless steel appliances, and in‑unit laundry
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
$45,187
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
8.22%
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%
$903,740
$903.7K
Cap Rate 7%
$645,529
$645.5K
Cap Rate 9%
$502,078
$502.1K
Market Conditions
NOI Build-Up for 2,676 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
$69.0K $25.80/SF
− Vacancy
−$4.5K −$1.68/SF
EGI
$64.6K $24.12/SF
− OpEx
−$19.4K −$7.24/SF
NOI
$45.2K $16.89/SF
Area
Bristol County, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$903,740
Cap Rate 7%
$645,529
Cap Rate 9%
$502,078
Alternative Uses
Best Use
Multifamily LT 5
$645.5K
$564.8K – $753.1K
NOI $45,187 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$579.8K
$507.4K – $676.5K
NOI $40,588 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$895.3K
$783.4K – $1.04M
NOI $62,669 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 02885, RI
11,147
Population
5,546
Households
2
Avg Household Size
47
Median Age
36%
College-Educated
90%
High-School Grad
6.2 sq mi
ZIP Area
1,798
Density / Sq Mi
$89,722
Median Household Income
$53,980
Median Earnings
$1,253
Median Rent
$363,900
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 - Spacious residential income property with updated kitchens, in-unit laundry, and distinct living areas.
Where is this duplex located?
The property is located at 319 Main Street Warren, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑family property built in 1907; Townhouse‑style first unit with two additional second‑floor bedrooms; First unit includes granite countertops, stainless steel appliances, and in‑unit laundry
