Duplex Property With Detached
New
For Sale
$1,095,000
46 Carr Lane, Jamestown, RI 02835
Residential Income, Jamestown, RI
Property Size2,502 SF
Lot Size2.02 Acres
Price / SF$437.65
Days on Market1
Property Features for 46 Carr Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RR80
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 2, Basement, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3
Parking
7
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Copper), Plumbing (Mixed), Plumbing (PEX), Plumbing (PVC), Insulation (Walls)
Exterior features
Porch
Basement
Storage Space, Full, Unfinished
Appliances
Electric Water Heater, Dishwasher, Oven/Range, Refrigerator
Subdivision
Carr Lane / Cranston Cove Area
Lot features
Barn, Wooded
Standard status
Active
Size
2,502 SF
Lot size
2.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5681
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air, Oil
Water source
Private, Well
Building Details
Year built
1882
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile - Ceramic, Carpet
Building materials
Dry Wall, Plaster, Shingles, Wood
Listing Agency:
Lila Delman Compass
(401) 423-3440
Listed By:
Bob Bailey · License #RES.0027739
(401) 413-6928
Added: Sep 2
Last Checked: Sep 2 at 5:06PM
MLS# 1422230
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property comprises two legal residences on 2.0248 acres. The primary home is a 2,502-square-foot Victorian cottage built in 1882, offering three bedrooms, 1 1/2 baths, hardwood and ceramic tile flooring, a porch, and a basement. The second residence is a ranch-style cottage with one bedroom and one bath. Appliances include a dishwasher, oven/range, and refrigerator, with heating provided by natural gas, forced air, and oil systems.
A detached barn, likely dating to the early 1900s, remains on the property and requires restoration. The site is located one block from Cranston Cove, with water access at the end of Carr Lane for swimming, clamming, fishing, or paddling. The property is served by a private well and septic tank and is zoned RR80.
A detached barn, likely dating to the early 1900s, remains on the property and requires restoration. The site is located one block from Cranston Cove, with water access at the end of Carr Lane for swimming, clamming, fishing, or paddling. The property is served by a private well and septic tank and is zoned RR80.
Key Highlights
- Two legal residences on 2.0248 acres
- 2,502‑square‑foot Victorian cottage built in 1882
- Primary residence includes 3 bedrooms and 1 1/2 baths
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two legal residences include Victorian and ranch-style cottages with private well and septic service.
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 2.0248 acres; 2,502‑square‑foot Victorian cottage built in 1882; Primary residence includes 3 bedrooms and 1 1/2 baths
