Duplex with Attic
New
For Sale
$440,000
32 North Union Street, Lincoln, RI 02865
Residential Income, Lincoln, RI
Property Size1,600 SF
Lot Size0.29 Acres
Price / SF$275
Days on Market2
Property Features for 32 North Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Basement, Bathroom 2, Bedroom 3
Parking
5
Interior features
Wall (Plaster), Wall (Wood), Attic, Attic Stairs, Attic Storage, Internal Expansion, Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Unfinished
Appliances
Dryer, Microwave, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Lonsdale
Lot features
Fenced, Paved Driveway
Standard status
Active
Size
1,600 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3163
Utilities
Heating system
Baseboard, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1880
Floors in Building
3
Number of units
2
Flooring type
Carpet, Hardwood, Tile - Ceramic, Laminate
Building materials
Plaster, Wood Wall(s), Other Siding
Additional Structures
Storage
Buildings
1
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Leza Williamson
(401) 447-0876
Added: Nov 2
Last Checked: Nov 3 at 3:06AM
MLS# 1426016
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.
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Investment Insights
Based on property information with market context.
This 1,600-square-foot duplex at 32 North Union Street contains two vacant units. The 0.2854-acre property includes a double garage, off-street parking, and a fenced yard. An attic with stairs and storage offers interior expansion potential. The home also has replacement Harvey windows installed in 2026 and a newer roof.
The interior is dated and would benefit from upgrades. Heating and electrical systems have been updated; heating is natural gas baseboard, and cooling is provided by window units. The property is in Lincoln, near major highways, shopping, restaurants, parks, and schools.
The interior is dated and would benefit from upgrades. Heating and electrical systems have been updated; heating is natural gas baseboard, and cooling is provided by window units. The property is in Lincoln, near major highways, shopping, restaurants, parks, and schools.
Key Highlights
- Two‑unit duplex with both units vacant
- 1,600 square feet on a 0.2854‑acre lot
- Attic includes stairs, storage, and internal expansion potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,641
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,820
$532.8K
Cap Rate 7%
$380,586
$380.6K
Cap Rate 9%
$296,011
$296.0K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$40.7K $25.44/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$38.1K $23.79/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.6K $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%
$532,820
Cap Rate 7%
$380,586
Cap Rate 9%
$296,011
Alternative Uses
Best Use
Multifamily LT 5
$380.6K
$333.0K – $444.0K
NOI $26,641 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$302.0K
$264.3K – $352.4K
NOI $21,143 @ 7.0% cap · market cap 4.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
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Business Placement
Demographics for 02865, RI
17,902
Population
7,079
Households
2.5
Avg Household Size
45
Median Age
48%
College-Educated
92%
High-School Grad
16.5 sq mi
ZIP Area
1,085
Density / Sq Mi
$117,042
Median Household Income
$59,949
Median Earnings
$1,206
Median Rent
$427,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both units are vacant, and the heating and electrical systems have been updated.
Where is this duplex located?
The property is located at 32 North Union Street Lincoln, RI.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑unit duplex with both units vacant; 1,600 square feet on a 0.2854‑acre lot; Attic includes stairs, storage, and internal expansion potential
