Two-Unit Duplex with Walk-Up
New
For Sale
$524,900
41 Mount Hope Avenue, Bristol, RI 02809
Separate utilities and off-street parking accompany two apartments, with the first-floor residence available for occupancy.
Property Size2,072 SF
Price / SF$253.33
Days on Market3
Property Features for 41 Mount Hope Avenue
General Information
Standard status
Active
Size
2,072 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Listing Agency:
RE/MAX River's Edge - Bristol
Listed By:
Tracey Mulvey · License #35623
(401) 835-8502
Source:
Westcottproperties
Added: Oct 11
Last Checked: Oct 12 at 5:00PM
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 RE/MAX River's Edge - Bristol
Investment Insights
Based on property information with market context.
Built in 1890, this duplex contains two apartments, each with three bedrooms. The first-floor unit has an eat-in kitchen connected to the front living room. Upstairs, the second apartment features high ceilings, custom kitchen cabinetry, a living room, and three bedrooms. A walk-up attic, separate utilities, a large backyard, and off-street parking for multiple vehicles round out the property. The first-floor apartment is available, while the second-floor unit offers rental income potential.
The property is a short distance from downtown Bristol, the waterfront, local marinas, galleries, cafes, restaurants, a bike path, pickle-ball courts, Colt State Park, and RWU.
The property is a short distance from downtown Bristol, the waterfront, local marinas, galleries, cafes, restaurants, a bike path, pickle-ball courts, Colt State Park, and RWU.
Key Highlights
- Two apartments, each with three bedrooms
- First‑floor apartment is available for occupancy
- Separate utilities for the two residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,988
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,760
$699.8K
Cap Rate 7%
$499,829
$499.8K
Cap Rate 9%
$388,756
$388.8K
Market Conditions
NOI Build-Up for 2,072 SF
Gross rent
$53.5K $25.80/SF
− Vacancy
−$3.5K −$1.68/SF
EGI
$50.0K $24.12/SF
− OpEx
−$15.0K −$7.24/SF
NOI
$35.0K $16.89/SF
Area
Bristol County, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,760
Cap Rate 7%
$499,829
Cap Rate 9%
$388,756
Alternative Uses
Best Use
Multifamily LT 5
$499.8K
$437.4K – $583.1K
NOI $34,988 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$449.0K
$392.8K – $523.8K
NOI $31,427 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$693.2K
$606.6K – $808.7K
NOI $48,524 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and off-street parking accompany two apartments, with the first-floor residence available for occupancy.
Where is this duplex located?
The property is located at 41 Mount Hope Avenue Bristol, RI.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Two apartments, each with three bedrooms; First‑floor apartment is available for occupancy; Separate utilities for the two residences
