Two-Unit Duplex with Commercial
For Sale
$549,900
3862 Mendon Road, Cumberland, RI 02864
Residential Income, Cumberland, RI
Property Size1,792 SF
Lot Size0.32 Acres
Price / SF$306.86
Days on Market53
Property Features for 3862 Mendon Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Basement, Bathroom 2, Bedroom 2
Parking
8
Parking features
None
Patio and Porch features
Patio
Interior features
Wall (Plaster), Plumbing (Mixed)
Exterior features
Patio
Basement
Full, Unfinished
Appliances
Gas Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
1,792 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6232
Utilities
Heating system
Steam, Natural Gas
Water source
Public
Building Details
Year built
1935
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Plaster
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Denali Group
(401) 524-0770
Added: Jul 31
Changed: Sep 20
Last Checked: Sep 21 at 10:06PM
MLS# 1419408
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 1935 duplex includes two residential units with hardwood flooring, plaster walls, steam heat, and natural-gas service. Public water and town sewer serve the property, while residential appliances include a gas water heater, dishwasher, washer, dryer, microwave, oven/range, and refrigerator. A patio provides exterior amenity space, and no dedicated parking is identified.
The 0.32-acre parcel also includes a freestanding 800-square-foot commercial building, creating a mixed residential and commercial configuration at 3862 Mendon Road in Cumberland. The property is near local dining, schools, and parks, with regional commuting access noted in the property information.
The 0.32-acre parcel also includes a freestanding 800-square-foot commercial building, creating a mixed residential and commercial configuration at 3862 Mendon Road in Cumberland. The property is near local dining, schools, and parks, with regional commuting access noted in the property information.
Key Highlights
- Two‑unit duplex residence on a 0.32‑acre parcel
- Separate freestanding 800‑square‑foot commercial building
- Public water and town sewer service
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
$29,838
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
5.43%
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%
$596,760
$596.8K
Cap Rate 7%
$426,257
$426.3K
Cap Rate 9%
$331,533
$331.5K
Market Conditions
NOI Build-Up for 1,792 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
$45.6K $25.44/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$42.6K $23.79/SF
− OpEx
−$12.8K −$7.14/SF
NOI
$29.8K $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%
$596,760
Cap Rate 7%
$426,257
Cap Rate 9%
$331,533
Alternative Uses
Best Use
Multifamily LT 5
$426.3K
$373.0K – $497.3K
NOI $29,838 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$338.3K
$296.0K – $394.7K
NOI $23,680 @ 7.0% cap · market cap 4.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
175
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Duplex residence with municipal utilities and a separate commercial building on one parcel.
Where is this duplex located?
The property is located at 3862 Mendon Road Cumberland, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit duplex residence on a 0.32‑acre parcel; Separate freestanding 800‑square‑foot commercial building; Public water and town sewer service
