Brick 4-Family Income
44 Newell Street West Warwick, RI 02893
For Sale
$699,900
Well-maintained brick 4-family featuring four 1-bedroom, 1-bath units with separate entrances and shared basement laundry.
Property Size2,960 SF
Price / SF$236.45
Days on Market8
Property Features for 44 Newell Street
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Multifamily
Building Details
Year Built
1900
Listing Agency:
Keller Williams Coastal
(401) 845-9200
Listed By:
Michael Brennan
Source:
Lockandkeyre
Added: Jul 23
Changed: Jul 26
Last Checked: Jul 30 at 5:38AM
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 well-maintained brick 4-family investment property offers four spacious 1-bedroom, 1-bath apartments. Each unit includes a living room and an eat-in kitchen equipped with a dishwasher, along with ample closet space and additional private storage. An office room with a closet is included in each apartment, supporting functional layouts for everyday living.
The building includes shared laundry facilities in the basement, and each unit has its own separate entrance for added convenience. The exterior features an attractive brick front, and the property sits on an elevated lot that provides a degree of privacy.
The roof is described as young, and the property is noted as lead safe with a lead variance from the Department of Health.
The building includes shared laundry facilities in the basement, and each unit has its own separate entrance for added convenience. The exterior features an attractive brick front, and the property sits on an elevated lot that provides a degree of privacy.
The roof is described as young, and the property is noted as lead safe with a lead variance from the Department of Health.
Key Highlights
- Well‑maintained brick 4‑family built in 1900 with four 1‑bedroom, 1‑bath apartments
- Each unit includes a living room and eat‑in kitchen with a dishwasher, plus ample closet space and private storage
- Separate entrances for each unit
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 | $65.7k | $22.20 |
| − Vacancy | −$4.3k | −$1.44 |
| EGI | $61.4k | $20.76 |
| − OpEx | −$18.4k | −$6.23 |
| NOI | $43.0k | $14.53 |
2,960 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
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.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained brick 4-family featuring four 1-bedroom, 1-bath units with separate entrances and shared basement laundry.
Where is this quadplex located?
The property is located at 44 Newell Street 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: Well‑maintained brick 4‑family built in 1900 with four 1‑bedroom, 1‑bath apartments; Each unit includes a living room and eat‑in kitchen with a dishwasher, plus ample closet space and private storage; Separate entrances for each unit
