Two-Unit Duplex with Walk-Up
New
For Sale
$559,900
41 Mount Hope Avenue, Bristol, RI 02809
Two apartments offer separate utilities, private living areas, and access to a large backyard.
Property Size2,072 SF
Price / SF$270.22
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:
Lavonnelopes
Added: Sep 2
Last Checked: Sep 4 at 2:45AM
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.
This two-unit duplex contains a three-bedroom apartment on each level. The first-floor residence connects an eat-in kitchen with the front living room and includes three bedrooms. Upstairs, high ceilings, custom kitchen cabinetry, a living room, and three additional bedrooms create a distinct residential layout. A walk-up attic provides additional unfinished space, while separate utilities support straightforward management. The property was built in 1890 and includes a large backyard plus off-street parking for multiple vehicles.
The first-floor apartment is scheduled to be available October 1, allowing an owner-occupant to live on site while receiving rental income from the second-floor unit. The property is a short distance from downtown Bristol, the waterfront, local marinas, galleries, cafés, fine dining, the bike path, pickle-ball courts, Colt State Park, and RWU.
The first-floor apartment is scheduled to be available October 1, allowing an owner-occupant to live on site while receiving rental income from the second-floor unit. The property is a short distance from downtown Bristol, the waterfront, local marinas, galleries, cafés, fine dining, the bike path, pickle-ball courts, Colt State Park, and RWU.
Key Highlights
- Two‑unit duplex with three bedrooms in each apartment
- 2,072 property size; built in 1890
- Separate utilities for the two apartments
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer separate utilities, private living areas, and access to a large backyard.
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 three bedrooms in each apartment; 2,072 property size; built in 1890; Separate utilities for the two apartments
