Two-Unit Duplex with Hardwood
For Sale
$410,000
Pending
395 Bradford Road, Westerly, RI 02808
Both residences feature two bedrooms and hardwood flooring throughout.
Property Size2,157 SF
Lot Size0.62 Acres
Days on Market59
Property Features for 395 Bradford Road
General Information
Standard status
Pending
Size
2,157 SF
Lot size
0.62 Acres
Property subtype
Multifamily
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
BHHS New England Properties
(401) 637-4800
Listed By:
Heidi Panciera
(401) 596-8500
Source:
Lockandkeyre
Added: Jul 7
Changed: Aug 31
Last Checked: Aug 31 at 3:34PM
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 BHHS New England Properties
Investment Insights
Based on property information with market context.
This 2,157-square-foot duplex contains two residential units, each with two bedrooms and hardwood flooring throughout. Built in 1920, the property occupies a 0.62-acre parcel at 395 Bradford Road in Westerly, Rhode Island.
The home is within walking distance of the river, with canoeing and fishing identified nearby, along with a playground. Miles of walking trails on the Grills Preserve add outdoor recreation to the surrounding setting. The two-unit configuration, established construction, and sizable parcel define the property’s physical profile.
The home is within walking distance of the river, with canoeing and fishing identified nearby, along with a playground. Miles of walking trails on the Grills Preserve add outdoor recreation to the surrounding setting. The two-unit configuration, established construction, and sizable parcel define the property’s physical profile.
Key Highlights
- Two‑unit duplex with 2,157 SF of building area
- Each unit includes 2 bedrooms
- Hardwood floors throughout both units
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
$26,018
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
6.35%
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%
$520,360
$520.4K
Cap Rate 7%
$371,686
$371.7K
Cap Rate 9%
$289,089
$289.1K
Market Conditions
NOI Build-Up for 2,157 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
$38.8K $18.00/SF
− Vacancy
−$1.7K −$0.77/SF
EGI
$37.2K $17.23/SF
− OpEx
−$11.2K −$5.17/SF
NOI
$26.0K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /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%
$520,360
Cap Rate 7%
$371,686
Cap Rate 9%
$289,089
Alternative Uses
Best Use
Multifamily LT 5
$371.7K
$325.2K – $433.6K
NOI $26,018 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$324.4K
$283.8K – $378.4K
NOI $22,705 @ 7.0% cap · market cap 5.54%
Theoretical Best
Healthcare Medical
$431.0K
$377.1K – $502.8K
NOI $30,168 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 02808, RI
2,332
Population
1,091
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
7.6 sq mi
ZIP Area
307
Density / Sq Mi
$94,712
Median Household Income
$52,582
Median Earnings
$1,182
Median Rent
$331,700
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 - Both residences feature two bedrooms and hardwood flooring throughout.
Where is this duplex located?
The property is located at 395 Bradford Road Westerly, RI.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,157 SF of building area; Each unit includes 2 bedrooms; Hardwood floors throughout both units
