Two-Unit Duplex with Walk-Up
New
For Sale
$559,900
41 Mount Hope Avenue, Bristol, RI 02809
Residential Income, Bristol, RI
Property Size2,072 SF
Lot Size0.17 Acres
Price / SF$270.22
Days on Market4
Property Features for 41 Mount Hope Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-6
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 6, Basement, Bedroom 2, Bathroom 2
Parking
6
Parking features
None
Interior features
Attic, Attic Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Unfinished, Storage Space, Full
Appliances
Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
Lot features
Paved Driveway
Standard status
Active
Size
2,072 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5562
Utilities
Heating system
Baseboard, Oil
Water source
Public
Amenities
large backyard
off-street parking
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Vinyl Siding
Listing Agency:
Re/Max River's Edge - Bristol · RE/MAX International
(401) 254-1776
Listed By:
Tracey Mulvey · License #35623
(401) 835-8502
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 4 at 4:06PM
MLS# 1420722
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 2,072-square-foot duplex contains two three-bedroom apartments on a 0.17-acre parcel. The first-floor unit includes an eat-in kitchen, front living room, and three bedrooms. Upstairs, the second apartment features high ceilings, custom kitchen cabinetry, a living room, and three additional bedrooms. A walk-up attic provides additional interior space, while the property also includes a basement, vinyl siding, mixed plumbing, vinyl and carpet flooring, and baseboard oil heat.
Separate utilities serve the apartments. The first-floor residence is scheduled to be available October 1. The property is located near downtown Bristol, the waterfront, local marinas, galleries, cafes, restaurants, the bike path, pickle-ball courts, and Colt State Park. Public water serves the property, which was built in 1890 and is zoned R-6.
Separate utilities serve the apartments. The first-floor residence is scheduled to be available October 1. The property is located near downtown Bristol, the waterfront, local marinas, galleries, cafes, restaurants, the bike path, pickle-ball courts, and Colt State Park. Public water serves the property, which was built in 1890 and is zoned R-6.
Key Highlights
- Two‑unit duplex with 2,072 square feet of property size
- Two apartments, each with 3 bedrooms
- Separate utilities for the two residences
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
$34,988
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
6.25%
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%
$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
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
$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 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%
$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 6.25%
Second Best
Apartment 5plus
$449.0K
$392.8K – $523.8K
NOI $31,427 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$693.2K
$606.6K – $808.7K
NOI $48,524 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments with separate utilities, a backyard, and convenient access to Bristol’s downtown and waterfront areas.
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 $559,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,072 square feet of property size; Two apartments, each with 3 bedrooms; Separate utilities for the two residences
