38 Aquidneck Avenue, Portsmouth, RI 02871
MULTI_FAMILY - Portsmouth, RI
- Added:
- May 6, 2026
- Days on Market:
- 53
- Last Refresh:
- Jun 27 at 4:06 pm
Property Features for 38 Aquidneck Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- R20
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4, Basement
- Parking
- 3
- Parking features
- Garage
- Interior features
- Wall (Dry Wall), Wall (Plaster), Attic, Attic Stairs, Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Unknown), Insulation (Walls)
- Exterior features
- Balcony
- Basement
- Storage Space, Full, Unfinished
- Appliances
- Tankless Water Heater, Dishwasher, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 4,552 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 12647
Utilities
- Sewer type
- Septic Tank
- Heating system
- Oil, Baseboard
- Water source
- Public
- Water front features
- Waterfront
- Water front
- 1
Building Details
- Year built
- 1919
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Tile - Ceramic, Vinyl, Hardwood, Laminate
- Building materials
- Dry Wall, Plaster, Vinyl Siding
Listing agent Joy Gilkeson (401) 845-9200
Listing office Keller Williams Coastal 501 Centerville Rd- Suite 201, Middletown, RI (401) 845-9200
Listing date May 6, 2026
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.
HighLights
- Waterfront property overlooking the Sakonnet River with water views
- Currently configured as a two‑family investment property
- Year built: 1919
- Public water with septic tank; newer 4‑bedroom septic system reported
- Tankless water heater plus oil baseboard heating; insulated with ceiling, floor, and wall insulation
- Framed walk‑up attic with stairs to a third floor that includes a deck/balcony; garage parking; balcony exterior feature
Overview
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.3k | $25.56 |
| − Vacancy | −$7.7k | −$1.70 |
| EGI | $108.6k | $23.86 |
| − OpEx | −$32.6k | −$7.16 |
| NOI | $76.0k | $16.70 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Newport
- State
- Rhode Island
- Longitude
- -71.240703
- Latitude
- 41.618823
