Brick Four-Unit
For Sale
$699,900
44 Newell St, West Warwick, RI 02893
Four separately entered apartments feature eat-in kitchens, private storage, and shared basement laundry.
Property Size2,960 SF
Price / SF$236.45
Days on Market78
Property Features for 44 Newell St
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Amenities
shared laundry
dishwasher
Building Details
Year Built
1900
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Coastal
Listed By:
Michael Brennan
(401) 845-9200
Source:
Alpernandmesenbourg
Added: Jul 28
Changed: Oct 4
Last Checked: Oct 7 at 4:44PM
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 Keller Williams Coastal
Investment Insights
Based on property information with market context.
This 2960 SF brick quadplex, built in 1900, contains four 1-bedroom, 1-bath apartments. Each residence includes a living room, eat-in kitchen with dishwasher, office room with closet, and additional closet space. Separate entrances serve the individual units, while shared laundry facilities are located in the basement. Private storage areas provide added utility for residents.
The property is located at 44 Newell St in West Warwick, RI 02893. Its brick front, elevated lot, and lead-safe status with a lead variance from the department of health are additional property features. The configuration supports four distinct residential units within one building.
The property is located at 44 Newell St in West Warwick, RI 02893. Its brick front, elevated lot, and lead-safe status with a lead variance from the department of health are additional property features. The configuration supports four distinct residential units within one building.
Key Highlights
- Four 1‑bedroom, 1‑bath apartments with separate entrances
- 2960 SF brick quadplex built in 1900
- Eat‑in kitchens equipped with dishwashers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,009
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,180
$860.2K
Cap Rate 7%
$614,414
$614.4K
Cap Rate 9%
$477,878
$477.9K
Market Conditions
NOI Build-Up for 2,960 SF
Gross rent
$65.7K $22.20/SF
− Vacancy
−$4.3K −$1.44/SF
EGI
$61.4K $20.76/SF
− OpEx
−$18.4K −$6.23/SF
NOI
$43.0K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,180
Cap Rate 7%
$614,414
Cap Rate 9%
$477,878
Alternative Uses
Best Use
Multifamily LT 5
$614.4K
$537.6K – $716.8K
NOI $43,009 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$564.4K
$493.9K – $658.5K
NOI $39,510 @ 7.0% cap · market cap 5.65%
Theoretical Best
Specialty Retail
$741.4K
$648.7K – $864.9K
NOI $51,895 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
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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?
Quadplex - Four separately entered apartments feature eat-in kitchens, private storage, and shared basement laundry.
Where is this quadplex located?
The property is located at 44 Newell St West Warwick, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath apartments with separate entrances; 2960 SF brick quadplex built in 1900; Eat‑in kitchens equipped with dishwashers
