Building Details

Year Built 2024

Listing Agency: RI Real Estate Services n***@401sold.com Show Phone

Listed By: Tim Silvia · License #RES.0030534 Show Phone

Source: Lockandkeyre

Added: Aug 21 Changed: Oct 13 Last Checked: Oct 12 at 8:14PM

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Investment Insights

Based on property information with market context.

Built in 2024, this townhouse-style duplex contains two separate residences, each with 2 bedrooms, 2½ bathrooms, an open-concept layout, and a finished walkout lower level. Both units include living areas with direct walkout access, while the lower levels provide additional finished space that can support a guest suite, office, family room, or other flexible use.

The property encompasses approximately 4.5 private acres at 33 Kenyon School Road in Richmond, Rhode Island. Its setting places the duplex near the University of Rhode Island, South County beaches, restaurants, shopping, and recreation. The acreage also provides room for future site improvements or additional structures, subject to local zoning and approvals.

Key Highlights

• 2024‑built duplex with two townhouse‑style residences
• Each unit offers 2 bedrooms and 2½ bathrooms
• Approximately 4.5 private acres in Richmond, RI

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,318

Cap Rate

4.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$926,360 $926.4K

Cap Rate 7%

$661,686 $661.7K

Cap Rate 9%

$514,644 $514.6K

Market Conditions

NOI Build-Up for 3,840 SF

Gross rent

$69.1K $18.00/SF

− Vacancy

−$3.0K −$0.77/SF

EGI

$66.2K $17.23/SF

− OpEx

−$19.9K −$5.17/SF

NOI

$46.3K $12.06/SF

Area

Washington County, RI

Vacancy

4.27%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$926,360

Cap Rate 7%

$661,686

Cap Rate 9%

$514,644

Alternative Uses

Best Use

Multifamily LT 5

$661.7K

$579.0K – $772.0K (±1% cap)

NOI $46,318 @ 7.0% cap · market cap 4.64%

Second Best

Apartment 5plus

$577.4K

$505.3K – $673.7K (±1% cap)

NOI $40,420 @ 7.0% cap · market cap 4.05%

Theoretical Best

Healthcare Medical

$767.2K

$671.3K – $895.1K (±1% cap)

NOI $53,706 @ 7.0% cap · market cap 5.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop HVAC Service Big Box & Wholesale Store Building Supply Plumbing Service Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Explore this area Business Placement

Demographics for 02836, RI

158

Population

94

Households

1.7

Avg Household Size

41

Median Age

43%

High-School Grad

0.3 sq mi

ZIP Area

527

Density / Sq Mi

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two townhouse-style residences feature open-concept layouts and finished walkout lower levels.

Where is this duplex located?

The property is located at 33 Kenyon School Road Richmond, RI.

What is the asking price?

The asking price for this property is $997,500.

What are key features of this property?

This property features: 2024‑built duplex with two townhouse‑style residences; Each unit offers 2 bedrooms and 2½ bathrooms; Approximately 4.5 private acres in Richmond, RI