Gated Acreage Duplex
For Sale
Under Contract
$1,599,000
365 W Wrentham Road, Cumberland, RI 02864
Residential Income, Cumberland, RI
Property Size2,919 SF
Lot Size7.84 Acres
Price / SF$547.79
Days on Market49
Property Features for 365 W Wrentham Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
101/OSMD
Bedrooms
5
Bathrooms
6
Full bathrooms
4
Half bathrooms
3
Rooms
Bedroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 7, Bathroom 6, Basement, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 5
Parking
18
Parking features
Open
Window features
Insulated Windows
Patio and Porch features
Patio
Interior features
Attic, Stairs, Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Exterior features
Balcony, Guest House, Patio
Fireplace
1
Basement
Full, Storage Space, Finished
Appliances
Dishwasher, Dryer, Disposal, Microwave, Oven/Range, Refrigerator, Washer
Lot features
Barn, Electronic Pet Fence, Extra Lot, Out Building, Paved Driveway, Sprinklers, Underground Utilities
Standard status
Active Under Contract
Size
2,919 SF
Lot size
7.84 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10676
Utilities
Sewer type
Septic Tank
Heating system
Oil, Central, Baseboard, Zoned
Cooling system
Central Air
Water source
Private, Well
Amenities
gated
open pasture
freshwater spring-fed pond
irrigation
invisible fencing
custom patio with fire pit
Building Details
Year built
1978
Floors in Building
2
Number of units
2
Flooring type
Laminate, Tile - Ceramic, Hardwood, Carpet
Building materials
Brick
Additional Structures
Guest House
Listing Agency:
Lila Delman Compass
(401) 789-6666
Listed By:
Michele Doherty · License #RES.0042281
(401) 835-1616
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 2 at 3:06PM
MLS# 1417701
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 legal two-unit property comprises two separate residences on 7.84 acres spanning three parcels. The main home is a 4-bedroom, 5-bath Colonial with more than 2,900 square feet, a 1,300-square-foot finished walkout lower level, a primary suite, three additional bedrooms, a den, and hardwood flooring. Recent improvements include roofs on all structures, a granite kitchen, updated flooring and paint, Harvey Elite triple-pane windows, and skylights. The second residence is a permitted 1,260-square-foot apartment above the barn, with independent utilities and a separate mailing address.
Supporting improvements include a 1,200-square-foot heated garage, workshop, shed, and chicken coop. Outdoor features include an open pasture, a spring-fed freshwater pond, irrigation, invisible fencing, and a patio with a fire pit. The property uses a private well and septic tank and includes central air, zoned oil baseboard heat, and open parking. Its Cumberland location provides access to both Boston and Providence by car.
Supporting improvements include a 1,200-square-foot heated garage, workshop, shed, and chicken coop. Outdoor features include an open pasture, a spring-fed freshwater pond, irrigation, invisible fencing, and a patio with a fire pit. The property uses a private well and septic tank and includes central air, zoned oil baseboard heat, and open parking. Its Cumberland location provides access to both Boston and Providence by car.
Key Highlights
- 7.84 acres across 3 parcels with a legal 2‑unit configuration
- 4BR, 5BA Colonial with more than 2,900 SF and a 1,300 SF finished walkout lower level
- Permitted 1,260 SF apartment above the barn with separate utilities and mailing address
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
$48,603
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
3.04%
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%
$972,060
$972.1K
Cap Rate 7%
$694,329
$694.3K
Cap Rate 9%
$540,033
$540.0K
Market Conditions
NOI Build-Up for 2,919 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
$74.3K $25.44/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.4K $23.79/SF
− OpEx
−$20.8K −$7.14/SF
NOI
$48.6K $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 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%
$972,060
Cap Rate 7%
$694,329
Cap Rate 9%
$540,033
Alternative Uses
Best Use
Multifamily LT 5
$694.3K
$607.5K – $810.1K
NOI $48,603 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$551.0K
$482.2K – $642.9K
NOI $38,573 @ 7.0% cap · market cap 2.41%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
19
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 - Legal two-unit property with separate residences, utilities, and mailing addresses in a private gated setting.
Where is this duplex located?
The property is located at 365 W Wrentham Road Cumberland, RI.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 7.84 acres across 3 parcels with a legal 2‑unit configuration; 4BR, 5BA Colonial with more than 2,900 SF and a 1,300 SF finished walkout lower level; Permitted 1,260 SF apartment above the barn with separate utilities and mailing address
