Updated Duplex with Insulated
For Sale
$648,900
33 Holden St, Coventry, RI 02816
Two residential units feature refreshed interiors, separate utilities, laundry hookups, and a detached garage with ADU potential.
Property Size2,860 SF
Price / SF$226.89
Days on Market50
Property Features for 33 Holden St
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Multi-Family
Building Details
Year Built
1880
Listing Agency:
REMAX Revolution
Listed By:
Adam Cardinal · License #RES.0035208
(401) 261-1936
Source:
Alpernandmesenbourg
Added: Aug 29
Changed: Oct 3
Last Checked: Oct 7 at 4:11PM
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 REMAX Revolution
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Investment Insights
Based on property information with market context.
Built in 1880, this duplex includes two residential units with updated interiors and separate natural gas meters. Unit 33 has refinished hardwood floors, new carpeting, a Navien combination boiler, and refreshed kitchen and bathroom fixtures. Unit 35 includes central air conditioning, forced hot air heat, new carpeting, a modernized kitchen with new appliances, and a renovated bathroom. Both units have fresh interior paint, updated lighting, exclusive washer and dryer hookups, new exterior siding, and storm doors.
The property includes a fully insulated garage with its own 200-amp electrical service and natural gas meter. Garage improvements include a 3-ton heat pump, Navien on-demand hot water system, and plumbing connected to the septic system. A private rear sitting area, adjacent canvas garage, irrigation system, new fencing, and off-street parking add to the site improvements. The garage also offers ADU potential.
The property includes a fully insulated garage with its own 200-amp electrical service and natural gas meter. Garage improvements include a 3-ton heat pump, Navien on-demand hot water system, and plumbing connected to the septic system. A private rear sitting area, adjacent canvas garage, irrigation system, new fencing, and off-street parking add to the site improvements. The garage also offers ADU potential.
Key Highlights
- Two‑unit duplex at 33 Holden Street and 35 Holden Street
- Built in 1880 with updated interiors, exterior siding, and storm doors
- Separate natural gas meters and exclusive washer/dryer hookups for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,556
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,120
$831.1K
Cap Rate 7%
$593,657
$593.7K
Cap Rate 9%
$461,733
$461.7K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$63.5K $22.20/SF
− Vacancy
−$4.1K −$1.44/SF
EGI
$59.4K $20.76/SF
− OpEx
−$17.8K −$6.23/SF
NOI
$41.6K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,120
Cap Rate 7%
$593,657
Cap Rate 9%
$461,733
Alternative Uses
Best Use
Multifamily LT 5
$593.7K
$519.5K – $692.6K
NOI $41,556 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$545.4K
$477.2K – $636.3K
NOI $38,176 @ 7.0% cap · market cap 5.88%
Theoretical Best
Specialty Retail
$716.3K
$626.8K – $835.7K
NOI $50,142 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
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Business Placement
Demographics for 02816, RI
33,206
Population
14,505
Households
2.3
Avg Household Size
45
Median Age
32%
College-Educated
93%
High-School Grad
36.9 sq mi
ZIP Area
900
Density / Sq Mi
$97,941
Median Household Income
$51,773
Median Earnings
$1,168
Median Rent
$317,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature refreshed interiors, separate utilities, laundry hookups, and a detached garage with ADU potential.
Where is this duplex located?
The property is located at 33 Holden St Coventry, RI.
What is the asking price?
The asking price for this property is $648,900.
What are key features of this property?
This property features: Two‑unit duplex at 33 Holden Street and 35 Holden Street; Built in 1880 with updated interiors, exterior siding, and storm doors; Separate natural gas meters and exclusive washer/dryer hookups for both units
