Duplex With Accessory Dwelling
New
For Sale
$639,000
35 High Street, Burrillville, RI 02859
Residential Income, Burrillville, RI
Property Size3,916 SF
Lot Size0.51 Acres
Price / SF$163.18
Days on Market4
Property Features for 35 High Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R12
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Basement, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking
8
Parking features
None
Interior features
Wall (Plaster), Attic, Insulation (Unknown)
Fireplace
1
Basement
Full, Unfinished
Subdivision
Pascoag
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
3,916 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7352
Utilities
Heating system
Oil
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood, Tile - Ceramic, Carpet
Building materials
Plaster, Vinyl Siding
Listing Agency:
Benmar Realty
(401) 639-9845
Listed By:
Keith Heroux
(401) 766-2211
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 5:06PM
MLS# 1420785
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.
Investment Insights
Based on property information with market context.
This duplex property includes a main residence with six bedrooms and four full bathrooms, plus a separate 1,200-square-foot accessory dwelling unit. The overall property contains 3,916 square feet on a 0.51-acre lot, offering a substantial residential configuration for extended households or rental use. Hardwood, ceramic tile, and carpet flooring are present, along with plaster construction details, vinyl siding, an attic, basement, fireplace, and oil heat. Public water serves the property, and the building dates to 1920.
The property is located in Burrillville near local shops, restaurants, schools, parks, and Pascoag Reservoir. Providence, Worcester, and surrounding communities are identified as nearby commuting destinations. Zoning is R12.
The property is located in Burrillville near local shops, restaurants, schools, parks, and Pascoag Reservoir. Providence, Worcester, and surrounding communities are identified as nearby commuting destinations. Zoning is R12.
Key Highlights
- Duplex property with a separate 1,200‑square‑foot accessory dwelling unit
- Six bedrooms and 4 full bathrooms
- 3,916 square feet on 0.51 acres
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
$51,748
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
8.10%
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%
$1,034,960
$1.0M
Cap Rate 7%
$739,257
$739.3K
Cap Rate 9%
$574,978
$575.0K
Market Conditions
NOI Build-Up for 3,916 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
$100.1K $25.56/SF
− Vacancy
−$6.0K −$1.53/SF
EGI
$94.1K $24.03/SF
− OpEx
−$42.3K −$10.81/SF
NOI
$51.7K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,034,960
Cap Rate 7%
$739,257
Cap Rate 9%
$574,978
Alternative Uses
Best Use
Multifamily LT 5
$931.5K
$815.0K – $1.09M
NOI $65,203 @ 7.0% cap · market cap 10.20%
Second Best
Apartment 5plus
$739.3K
$646.9K – $862.5K
NOI $51,748 @ 7.0% cap · market cap 8.10%
Theoretical Best
—
—
same as Best Use
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
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 02859, RI
6,701
Population
2,465
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
27.6 sq mi
ZIP Area
243
Density / Sq Mi
$118,662
Median Household Income
$43,417
Median Earnings
$1,223
Median Rent
$361,600
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 - Six bedrooms and four full bathrooms support extended-family living and additional rental use.
Where is this duplex located?
The property is located at 35 High Street Burrillville, RI.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Duplex property with a separate 1,200‑square‑foot accessory dwelling unit; Six bedrooms and 4 full bathrooms; 3,916 square feet on 0.51 acres
