Historic Duplex Property with
New
For Sale
$1,095,000
46 Carr Lane, Jamestown, RI 02835
Two legal residences on landscaped grounds with water access near Cranston Cove.
Property Size2,502 SF
Lot Size2.00 Acres
Price / SF$437.65
Days on Market4
Property Features for 46 Carr Lane
General Information
Standard status
Active
Size
2,502 SF
Lot size
2.00 Acres
Property subtype
MultiFamily
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1882
Listing Agency:
Lila Delman Compass
(401) 423-3440
Listed By:
Bob Bailey · License #RES.0027739
(401) 413-6928
Source:
Lockandkeyre
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 5 at 7:39AM
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 Lila Delman Compass
Investment Insights
Based on property information with market context.
This multifamily property includes two legal residences across 2 acres of grounds. The primary home is a Victorian cottage dating to 1882 with 3 bedrooms and 1 1/2 baths. A separate ranch-style cottage provides 1 bedroom and 1 bath, creating a two-residence configuration with flexible occupancy options. The property also includes a detached barn believed to date from the early 1900s and requiring restoration.
Located at 46 Carr Lane in Jamestown, the property is 1 block from Cranston Cove, with water access at the end of Carr Lane. The setting supports a range of residential and income-producing arrangements, including occupying one residence while using the other as a cottage. The homes and outbuilding offer a substantial existing framework for renovation and continued residential use.
Located at 46 Carr Lane in Jamestown, the property is 1 block from Cranston Cove, with water access at the end of Carr Lane. The setting supports a range of residential and income-producing arrangements, including occupying one residence while using the other as a cottage. The homes and outbuilding offer a substantial existing framework for renovation and continued residential use.
Key Highlights
- Two legal residences on 2 acres of grounds
- 1882 Victorian cottage with 3 bedrooms and 1 1/2 baths
- Ranch‑style cottage with 1 bedroom and 1 bath
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
$41,789
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
3.82%
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%
$835,780
$835.8K
Cap Rate 7%
$596,986
$597.0K
Cap Rate 9%
$464,322
$464.3K
Market Conditions
NOI Build-Up for 2,502 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
$64.0K $25.56/SF
− Vacancy
−$4.3K −$1.70/SF
EGI
$59.7K $23.86/SF
− OpEx
−$17.9K −$7.16/SF
NOI
$41.8K $16.70/SF
Area
Newport County, RI
Vacancy
6.65%
Lease Rate
$25.56 /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%
$835,780
Cap Rate 7%
$596,986
Cap Rate 9%
$464,322
Alternative Uses
Best Use
Multifamily LT 5
$597.0K
$522.4K – $696.5K
NOI $41,789 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$530.9K
$464.6K – $619.4K
NOI $37,165 @ 7.0% cap · market cap 3.39%
Theoretical Best
—
—
same as Best Use
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
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 02835, RI
5,559
Population
3,177
Households
1.7
Avg Household Size
55
Median Age
68%
College-Educated
98%
High-School Grad
9.4 sq mi
ZIP Area
591
Density / Sq Mi
$141,442
Median Household Income
$80,625
Median Earnings
$1,932
Median Rent
$752,300
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 legal residences on landscaped grounds with water access near Cranston Cove.
Where is this duplex located?
The property is located at 46 Carr Lane Jamestown, RI.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Two legal residences on 2 acres of grounds; 1882 Victorian cottage with 3 bedrooms and 1 1/2 baths; Ranch‑style cottage with 1 bedroom and 1 bath
