Updated Two-Unit
For Sale
$579,000
Pending
45 Lonsdale St, West Warwick, RI 02893
Two distinct residences provide private decks, full basements, and separate heating and cooling systems.
Property Size2,560 SF
Days on Market63
Property Features for 45 Lonsdale St
General Information
Standard status
Pending
Size
2,560 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,630
Listing Agency:
Longvin Realty Inc
(401) 567-6666
Listed By:
Zhiyu Ding
(401) 567-6666
Source:
Exprealty
Added: Jun 29
Changed: Aug 29
Last Checked: Aug 29 at 9:17PM
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 Longvin Realty Inc
Investment Insights
Based on property information with market context.
This townhouse-style duplex contains 2,560 square feet across two residences, each with spacious rooms, central air, a full basement, and a private deck facing the yard. The left unit has 2 bedrooms and 1.5 baths, while the right unit includes 3 bedrooms and 1.5 baths. The property was built in 1993 and sits on over 1 acre along a dead-end street.
Recent improvements include a roof installed in 2024, replacement heating and A/C in Unit 1 in 2024, and replacement heating and A/C in Unit 2 in 2022. Vinyl siding, natural gas, city water, and city sewer are also in place. Located at 45 Lonsdale St in West Warwick, the property offers access to highways, shopping, and restaurants, with Providence approximately 20 minutes away and South County beaches and Newport approximately 25 minutes away.
Recent improvements include a roof installed in 2024, replacement heating and A/C in Unit 1 in 2024, and replacement heating and A/C in Unit 2 in 2022. Vinyl siding, natural gas, city water, and city sewer are also in place. Located at 45 Lonsdale St in West Warwick, the property offers access to highways, shopping, and restaurants, with Providence approximately 20 minutes away and South County beaches and Newport approximately 25 minutes away.
Key Highlights
- 2,560‑square‑foot townhouse‑style duplex built in 1993
- Left unit: 2 bedrooms, 1.5 baths, and a full basement
- Right unit: 3 bedrooms, 1.5 baths, and a full basement
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
$37,197
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
6.42%
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%
$743,940
$743.9K
Cap Rate 7%
$531,386
$531.4K
Cap Rate 9%
$413,300
$413.3K
Market Conditions
NOI Build-Up for 2,560 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
$56.8K $22.20/SF
− Vacancy
−$3.7K −$1.44/SF
EGI
$53.1K $20.76/SF
− OpEx
−$15.9K −$6.23/SF
NOI
$37.2K $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 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%
$743,940
Cap Rate 7%
$531,386
Cap Rate 9%
$413,300
Alternative Uses
Best Use
Multifamily LT 5
$531.4K
$465.0K – $620.0K
NOI $37,197 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$488.2K
$427.1K – $569.5K
NOI $34,171 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$641.2K
$561.0K – $748.0K
NOI $44,882 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
253
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
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 distinct residences provide private decks, full basements, and separate heating and cooling systems.
Where is this duplex located?
The property is located at 45 Lonsdale St West Warwick, RI.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 2,560‑square‑foot townhouse‑style duplex built in 1993; Left unit: 2 bedrooms, 1.5 baths, and a full basement; Right unit: 3 bedrooms, 1.5 baths, and a full basement
