Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Cumberland Buildable Residential Lot Title is generated by Realmo AI

    38 Summit Road, Cumberland, RI 02864

    View on Map
    Claim this Listing
    New
    For Sale
    $199,000

    LAND - Cumberland, RI

    Lot size:
    0.21 Acres
    Added:
    May 28, 2026
    Days on Market:
    2
    Last Refresh:
    May 29 at 1:06 pm

    Property Features for 38 Summit Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2025

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Kyle Seyboth

    Listing agent Kyle Seyboth License #REB.0794296

    Listing office Century 21 Limitless 969 Waterman Avenue, Suite 1, East Providence, RI

    Listing date May 28, 2026

    MLS# 1413296 Listing URL

    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

    • Buildable lot in a desirable, established Cumberland neighborhood.
    • Survey in hand, saving time and expense for development.
    • Convenient access to Route 146 and Interstate 295 for easy commuting.
    • Minutes from shopping, dining, grocery stores, and local services in Cumberland and Lincoln.
    • Close to Diamond Hill Park with walking trails, athletic fields, and recreation.
    • Electricity Available.

    Overview

    This single-family buildable lot for sale in Cumberland presents an excellent opportunity for builders, investors, or buyers seeking to construct a custom home. A survey is already in hand, adding value and convenience for future development. It is ideal for a spec house or a personalized residence in a desirable suburban setting. The lot is located within an established residential neighborhood known for its community charm and accessibility. It is situated minutes from shopping, dining, grocery stores, and local services throughout Cumberland and nearby Lincoln. Convenient access to Route 146 and Interstate 295 facilitates easy commuting throughout Rhode Island and into Massachusetts. The property is close to Diamond Hill Park, featuring walking trails, athletic fields, playgrounds, and recreation. A short drive to Providence provides access to dining, shopping, nightlife, and entertainment. The location is near schools, healthcare, parks, golf courses, and municipal services. The lot size is 0.21 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cumberland
    County
    Providence
    State
    Rhode Island
    Longitude
    -71.416295
    Latitude
    41.95444

    Nearby Similar for Sale

    • $1,749,000
      2,919 SF

      Cumberland Multifamily Estate on 7.84 Acres

      Two residences on 7.84 acres, ideal for various living arrangements.
      365 W Wrentham Road, Cumberland, RI 02864
      View Details
    • $600,000
      2,025 SF

      Spacious Two-Family Cumberland Property

      Well-maintained two-family property with updated finishes and separate utilities.
      19 Hardwick Street, Cumberland, RI 02864
      View Details
    • $549,900
      3,892 SF

      Cumberland Multi-Family Property For Sale

      Spacious multi-family property with investment potential in Cumberland, Rhode Island.
      19 Elm Street, Cumberland, RI 02864
      View Details
    • $599,000
      3,564 SF

      Renovated Duplex in Cumberland Hill

      Newly renovated duplex in Cumberland Hill, ideal for owner-occupancy.
      20 Mount Pleasant View Avenue, Cumberland, RI 02864
      View Details
    • $750,000
      3,276 SF

      Versatile Multifamily with Business Potential

      Two-family property with grandfathered zoning for office use.
      3288 Mendon Road, Cumberland, RI 02864
      View Details
    • $879,800
      3,176 SF

      New Construction Duplex in Cumberland

      New construction duplex with modern amenities in a quiet location.
      29 Prospect Street, Cumberland, RI 02864
      View Details
    • $675,000
      4,206 SF

      Cumberland Multifamily on Large Lot

      Two-unit property on 1.29 acres near conservation land.
      97 Angell Road, Cumberland, RI 02864
      View Details
    • $729,000
      2,914 SF

      Mixed-Use 4-Unit Opportunity

      Mixed-use property with commercial and residential units in Cumberland, RI.
      2200 Diamond Hill Road, Cumberland, RI 02864
      View Details
    • $1,299,000
      3,936 SF

      Cumberland Mixed-Use Freestanding Building

      Remodeled mixed-use building in high-traffic location with ample parking.
      4115 Mendon Road, Cumberland, RI, RI 02864
      View Details
    • $1,299,000
      3,936 SF

      Cumberland Mixed-Use Building For Sale

      Remodeled mixed-use building on high-traffic road, suitable for various businesses.
      4115 Mendon Road, Cumberland, RI 02864
      View Details
    • $470,000
      1,552 SF

      Cumberland Multifamily Property For Sale

      Two-unit property in Cumberland, RI with rental income potential.
      25 Pine Swamp Road, Cumberland, RI 02864
      View Details
    • $1,099,000
      3,903 SF

      Mixed-Use Property with Vacant Lot

      Six-unit mixed-use property with a vacant lot for sale.
      2220 Diamond Hill Road, Cumberland, RI, RI 02864
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Buildable lot in Cumberland, ideal for custom home construction.
    Where is this residential land & home lot located?
    The property is located at 38 Summit Road Cumberland, RI.
    What is the asking price?
    The asking price for this property is $199,000.
    What are key features of this property?
    This property features: Buildable lot in a desirable, established Cumberland neighborhood.; Survey in hand, saving time and expense for development.; Convenient access to Route 146 and Interstate 295 for easy commuting.
    (508) 726-3492
    We can help!
    Listing Contact
    Kyle Seyboth
    Real Estate License ID: REB.0794296
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    38 Summit Road, Cumberland, RI 02864
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!