Two-Building Two-Unit Rental
400 Thames Street Bristol, RI 02809
New
400 Thames Street, Bristol, RI, 02809
$1,195,000
For Sale
$1,195,000
MULTI_FAMILY - Bristol, RI
Property Size3,748 SF
Lot Size0.12 Acres
Price / SF$318.84
Days on Market1
Property Features for 400 Thames Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- W
- Bedrooms
- 9
- Bathrooms
- 5
- Rooms
- Bathroom 4, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 8, Bedroom 9, Bathroom 5, Bedroom 3, Bedroom 7, Basement, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3
- Parking
- 4
- Parking features
- None
- Interior features
- Wall (Paneled), Plumbing (Mixed), Insulation (Unknown)
- Basement
- Partially Finished, Full
- Standard status
- Active
- Size
- 3,748 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 9079
Utilities
- Heating system
- Natural Gas, Baseboard
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Tile - Ceramic, Hardwood, Carpet, Laminate
- Building materials
- Paneled, Wood
Listing Agency
Keller Williams Coastal
(401) 845-9200
501 Centerville Rd- Suite 201, Middletown, RI
Listed by
The Chris Woodard Team
(401) 845-9200
Added: Jul 16 Checked: Jul 16 at 7:06 pm
MLS# 1417378
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.
Investment Insights
Based on property information with market context.
For sale is a two-building, multi-family rental property located at 400 & 406 Thames Street, featuring two separate houses on a single lot. Each building contains two rental units, creating a four-unit total layout within the compound configuration. The property is listed as 3,748 square feet on a 0.121-acre lot.
The location is described as walkable to Bristol’s downtown district, with proximity to waterfront views and Independence Park, as well as access to the East Bay Bike Path. Public remarks also note convenience to historic downtown shopping and nearby dining options.
Zoning is listed as “W,” and the property is presented as a flexible fit for either an investor or an owner-occupant given the multi-unit structure.
The location is described as walkable to Bristol’s downtown district, with proximity to waterfront views and Independence Park, as well as access to the East Bay Bike Path. Public remarks also note convenience to historic downtown shopping and nearby dining options.
Zoning is listed as “W,” and the property is presented as a flexible fit for either an investor or an owner-occupant given the multi-unit structure.
Key Highlights
- Two separate multi‑family houses on a single lot at 400 & 406 Thames Street, each with 2 rental units
- Multi‑unit property built in 1890
- Interior features include paneled walls and mixed plumbing
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 | $96.7k | $25.80 |
| − Vacancy | −$6.3k | −$1.68 |
| EGI | $90.4k | $24.12 |
| − OpEx | −$27.1k | −$7.24 |
| NOI | $63.3k | $16.89 |
3,748 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$904.1K
$791.1K – $1.05M
NOI $63,289 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$812.1K
$710.6K – $947.5K
NOI $56,848 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,774 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - For sale: two separate two-unit multi-family houses on one lot in downtown Bristol.
Where is this duplex located?
The property is located at 400 Thames Street Bristol, RI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two separate multi‑family houses on a single lot at 400 & 406 Thames Street, each with 2 rental units; Multi‑unit property built in 1890; Interior features include paneled walls and mixed plumbing
