Building Details

Year Built 1882

Listing Agency: Lila Delman Compass k***@liladelman.com Show Phone

Listed By: Bob Bailey · License #RES.0027739 Show Phone

Source: Lockandkeyre

Added: Sep 2 Changed: Oct 6 Last Checked: Oct 5 at 7:30PM

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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.

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 / Yr

$41,789

Cap Rate

3.82%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $41,789 @ 7.0% cap · market cap 3.82%

Second Best

Apartment 5plus

$530.9K

$464.6K – $619.4K (±1% cap)

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

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Real Estate Agency Bakery Gym & Fitness Center (Bike/Boat/Book/etc) Store Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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