Two-Unit Duplex with Separate
4 Margaret Street, Cranston, RI 02907
For Sale
New
$550,000
Both residences are vacant and have individual gas heating systems, public water and sewer, and access to a full basement.
Property Size2,260 SF
Price / SF$243.36
Days on Market3
Property Features for 4 Margaret Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Alpern and Mesenbourg
Listed By:
Alpern & Mesenbourg Group · License RI #41186
(401) 324-9841
Source:
Lavonnelopes
Added: Nov 10
Last Checked: Nov 12 at 4:43AM
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 Alpern and Mesenbourg
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Investment Insights
Based on property information with market context.
This 2,260-square-foot duplex, built in 1920, contains two vacant residences. One has three bedrooms and two full bathrooms; the other has three bedrooms and one full bathroom. Interior finishes include hardwood, vinyl, and ceramic flooring, with new carpeting and fresh paint. A full basement provides storage and utility space, and each residence has its own gas heating system.
The property is at 4 Margaret Street in Cranston, near the Providence line. I-95, Route 10, and Reservoir Avenue provide nearby road access. Shopping, restaurants, schools, public transportation, and hospitals are also in the surrounding area.
Outdoor features include a backyard and a recently paved driveway with off-street parking for three vehicles. Public water and sewer serve the property.
The property is at 4 Margaret Street in Cranston, near the Providence line. I-95, Route 10, and Reservoir Avenue provide nearby road access. Shopping, restaurants, schools, public transportation, and hospitals are also in the surrounding area.
Outdoor features include a backyard and a recently paved driveway with off-street parking for three vehicles. Public water and sewer serve the property.
Key Highlights
- Two residences: one with 3 bedrooms and 2 full bathrooms; the other with 3 bedrooms and 1 full bathroom
- 2,260 square feet; built in 1920
- Separate gas heating systems and public water and sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,630
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$752,600
$752.6K
Cap Rate 7%
$537,571
$537.6K
Cap Rate 9%
$418,111
$418.1K
Market Conditions
NOI Build-Up for 2,260 SF
Gross rent
$57.5K $25.44/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$53.8K $23.79/SF
− OpEx
−$16.1K −$7.14/SF
NOI
$37.6K $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 Rate 5%
$752,600
Cap Rate 7%
$537,571
Cap Rate 9%
$418,111
Alternative Uses
Best Use
Multifamily LT 5
$537.6K
$470.4K – $627.2K
NOI $37,630 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$426.6K
$373.3K – $497.8K
NOI $29,865 @ 7.0% cap · market cap 5.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Cranston, RI
Properties on Market for Duplexes in Cranston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant and have individual gas heating systems, public water and sewer, and access to a full basement.
Where is this duplex located?
The property is located at 4 Margaret Street Cranston, RI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two residences: one with 3 bedrooms and 2 full bathrooms; the other with 3 bedrooms and 1 full bathroom; 2,260 square feet; built in 1920; Separate gas heating systems and public water and sewer
