Duplex With Two-Car
New
For Sale
$524,900
36 Amherst Street, Cumberland, RI 02864
Two-family residence with an expandable lot and convenient access to schools, shopping, dining, and major roadways.
Property Size3,637 SF
Price / SF$144.32
Days on Market6
Property Features for 36 Amherst Street
General Information
Standard status
Active
Size
3,637 SF
Property subtype
Multifamily
Land
Land Use
residential
Entitled
No
Amenities
garage
Building Details
Year Built
1880
Listing Agency:
REMAX Revolution
(401) 921-5011
Listed By:
Lina Miranda
Source:
Lockandkeyre
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 14 at 6:57AM
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
Investment Insights
Based on property information with market context.
This two-family property includes 3,637 square feet of residential space and dates to 1880. The residence is set on more than 18,000 square feet of land and features a long driveway, a two-car garage, and a cul-de-sac setting. The lot may offer expansion or additional development possibilities, subject to town approvals and applicable zoning requirements.
Located at 36 Amherst Street in Cumberland’s Diamond Hill neighborhood, the property is near schools, shopping, dining, local amenities, and major roadways. The residential surroundings provide a private setting while maintaining access to everyday services and regional routes.
Located at 36 Amherst Street in Cumberland’s Diamond Hill neighborhood, the property is near schools, shopping, dining, local amenities, and major roadways. The residential surroundings provide a private setting while maintaining access to everyday services and regional routes.
Key Highlights
- Two‑family duplex with 3,637 square feet of residential space
- Over 18,000 square feet of land with potential for expansion, subject to approvals and zoning requirements
- Two‑car garage and long driveway
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
$48,061
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
9.16%
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%
$961,220
$961.2K
Cap Rate 7%
$686,586
$686.6K
Cap Rate 9%
$534,011
$534.0K
Market Conditions
NOI Build-Up for 3,637 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
$93.0K $25.56/SF
− Vacancy
−$5.6K −$1.53/SF
EGI
$87.4K $24.03/SF
− OpEx
−$39.3K −$10.81/SF
NOI
$48.1K $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%
$961,220
Cap Rate 7%
$686,586
Cap Rate 9%
$534,011
Alternative Uses
Best Use
Multifamily LT 5
$865.1K
$757.0K – $1.01M
NOI $60,558 @ 7.0% cap · market cap 11.54%
Second Best
Apartment 5plus
$686.6K
$600.8K – $801.0K
NOI $48,061 @ 7.0% cap · market cap 9.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
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 - Two-family residence with an expandable lot and convenient access to schools, shopping, dining, and major roadways.
Where is this duplex located?
The property is located at 36 Amherst Street Cumberland, RI.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Two‑family duplex with 3,637 square feet of residential space; Over 18,000 square feet of land with potential for expansion, subject to approvals and zoning requirements; Two‑car garage and long driveway
