Two-Family Residential Income
For Sale
$589,900
44 Warwick Road, Pawtucket, RI 02861
Well-maintained two-family home with three bedrooms per unit, updated kitchens, off-street parking, and a fenced yard.
Property Size2,074 SF
Price / SF$284.43
Days on Market15
Property Features for 44 Warwick Road
General Information
Standard status
Active
Size
2,074 SF
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Amenities
off-street parking
storage shed
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
INNOVATE Real Estate
(401) 323-8292
Listed By:
Manny Menezes
Source:
Lockandkeyre
Added: Jul 16
Changed: Jul 27
Last Checked: Jul 30 at 5:29AM
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 INNOVATE Real Estate
Investment Insights
Based on property information with market context.
This two-family residential income property features two spacious units, each with three bedrooms. The second and third-floor unit is laid out in a townhouse-style configuration for additional living space and privacy. Both units include updated kitchens with granite countertops, and interior flooring consists of hardwood and parquet.
The property has been improved with newer heating systems, a newer roof, and low-maintenance vinyl siding. Exterior amenities include off-street parking, a fenced backyard, and a storage shed. A neighborhood green space is directly across the street.
Additional year-round area recreation is noted nearby through Slater Park, and the home provides easy access to major highways and local shopping and dining. Rail service is also described as convenient via the Pawtucket/Central Falls MBTA station.
The property has been improved with newer heating systems, a newer roof, and low-maintenance vinyl siding. Exterior amenities include off-street parking, a fenced backyard, and a storage shed. A neighborhood green space is directly across the street.
Additional year-round area recreation is noted nearby through Slater Park, and the home provides easy access to major highways and local shopping and dining. Rail service is also described as convenient via the Pawtucket/Central Falls MBTA station.
Key Highlights
- Well‑maintained two‑family home built in 1920, with 3 bedrooms per unit
- Updated kitchens in both units with granite countertops
- Major upgrades include newer heating systems and a newer roof
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 | $52.8k | $25.44 |
| − Vacancy | −$3.4k | −$1.65 |
| EGI | $49.3k | $23.79 |
| − OpEx | −$14.8k | −$7.14 |
| NOI | $34.5k | $16.65 |
2,074 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$493.3K
$431.7K – $575.6K
NOI $34,533 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$391.5K
$342.6K – $456.8K
NOI $27,407 @ 7.0% cap · market cap 4.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
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 - Well-maintained two-family home with three bedrooms per unit, updated kitchens, off-street parking, and a fenced yard.
Where is this duplex located?
The property is located at 44 Warwick Road Pawtucket, RI.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1920, with 3 bedrooms per unit; Updated kitchens in both units with granite countertops; Major upgrades include newer heating systems and a newer roof
