Duplex with Garage
590 Turner Road, Middletown, RI 02842
For Sale
$875,000
Two residential units include hardwood floors, off-street parking and completed plans for a three-car garage.
Property Size1,680 SF
Lot Size0.62 Acres
Price / SF$520.83
Days on Market50
Property Features for 590 Turner Road
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Multifamily Units
Amenities
hardwood floors
partial unfinished basement
off-street parking
Building Details
Year Built
Buildings
Listing Agency:
SERHANT.
(401) 382-0600
Listed By:
Aryn Hawks · License RI RES.0033981
(401) 500-0750
Source:
Lockandkeyre
Added: Sep 24
Changed: Nov 12
Last Checked: Nov 12 at 8:32AM
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 SERHANT.
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Investment Insights
Based on property information with market context.
Built in 1973, this duplex contains two units with a combined 1,680 square feet, four bedrooms and two full bathrooms. Hardwood flooring and off-street parking are in place, and the property includes a partially unfinished basement. The 0.62-acre parcel also has a survey, engineered site plan and architectural drawings prepared for a three-car garage; renderings are available upon request.
The property is located at 590 Turner Road in Middletown, Rhode Island. The garage plans provide a documented design concept for a future improvement, while the existing duplex, parking and basement form the current property configuration.
The property is located at 590 Turner Road in Middletown, Rhode Island. The garage plans provide a documented design concept for a future improvement, while the existing duplex, parking and basement form the current property configuration.
Key Highlights
- Two‑unit duplex with 1,680 square feet of living space
- Four bedrooms and two full bathrooms
- 0.62‑acre parcel at 590 Turner Road, Middletown, RI 02842
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,060
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$561,200
$561.2K
Cap Rate 7%
$400,857
$400.9K
Cap Rate 9%
$311,778
$311.8K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$42.9K $25.56/SF
− Vacancy
−$2.9K −$1.70/SF
EGI
$40.1K $23.86/SF
− OpEx
−$12.0K −$7.16/SF
NOI
$28.1K $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%
$561,200
Cap Rate 7%
$400,857
Cap Rate 9%
$311,778
Alternative Uses
Best Use
Multifamily LT 5
$400.9K
$350.8K – $467.7K
NOI $28,060 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$356.5K
$311.9K – $415.9K
NOI $24,955 @ 7.0% cap · market cap 2.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
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Business Placement
Demographics for 02842, RI
17,115
Population
8,255
Households
2.1
Avg Household Size
43
Median Age
49%
College-Educated
96%
High-School Grad
12.5 sq mi
ZIP Area
1,369
Density / Sq Mi
$97,650
Median Household Income
$47,307
Median Earnings
$1,906
Median Rent
$536,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Newport County, RI
Properties on Market for Duplexes in Newport County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include hardwood floors, off-street parking and completed plans for a three-car garage.
Where is this duplex located?
The property is located at 590 Turner Road Middletown, RI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,680 square feet of living space; Four bedrooms and two full bathrooms; 0.62‑acre parcel at 590 Turner Road, Middletown, RI 02842
