Historic Two-Family
60 Colwell Road Smithfield, RI 02828
For Sale
$499,900
Pending
MULTI_FAMILY - Smithfield, RI
Property Size2,497 SF
Lot Size1.84 Acres
Days on Market55
Property Features for 60 Colwell Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Basement, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 1
Parking
4
Parking features
None
Window features
Storm Window(s)
Interior features
Wall (Plaster), Attic, Attic Stairs, Attic Storage, Stairs, Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Full, Storage Space, Unfinished
Appliances
Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
Standard status
Pending
Size
2,497 SF
Lot size
1.84 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6069
Utilities
Sewer type
Cesspool
Heating system
Baseboard, Oil
Cooling system
Window Unit(s)
Water source
Well
Building Details
Year built
1830
Floors in Building
2
Number of units
2
Flooring type
Pine, Tile - Ceramic, Hardwood, Carpet
Building materials
Plaster, Shingles, Wood
Additional Structures
Storage
Listing Agency:
Re/Max Properties
(401) 232-3900
Listed By:
Jo-Ann Carlton
(401) 523-0704
Added: Jun 5
Changed: Jul 28
Last Checked: Jul 29 at 3:06AM
MLS# 1414555
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 historic two-family home was built in 1830 and offers a blend of period details and modern improvements. Inside, you’ll find multiple fireplaces, wide pine plank flooring, and thoughtful updates throughout the residences. The first-floor unit includes more than 1,300 square feet with three bedrooms, two fireplaces, a spacious living room, a large eat-in kitchen, an updated full bath, and a convenient laundry area. The second-floor unit provides more than 1,100 square feet with two bedrooms, an updated eat-in kitchen, a cozy sitting room, and a generous-sized living room. Additional storage is available in a full walk-up attic and a full basement.
The property sits on a 1.84-acre corner lot in Smithfield, Rhode Island.
This home is well suited for buyers seeking an owner-occupied setup or an income-producing residential property, with two separate units that each have defined living spaces and kitchen facilities. Storage capacity is supported by both the walk-up attic and full basement, which can help accommodate household needs. Please note the estate sale is being offered “AS IS.”
The property sits on a 1.84-acre corner lot in Smithfield, Rhode Island.
This home is well suited for buyers seeking an owner-occupied setup or an income-producing residential property, with two separate units that each have defined living spaces and kitchen facilities. Storage capacity is supported by both the walk-up attic and full basement, which can help accommodate household needs. Please note the estate sale is being offered “AS IS.”
Key Highlights
- Historic Smithfield two‑family home built in 1830, set on a 1.84‑acre corner lot
- First‑floor unit: 3 bedrooms with over 1,300 SF, including 2 fireplaces, a large eat‑in kitchen, updated full bath, and laundry area
- Second‑floor unit: 2 bedrooms with over 1,100 SF, updated eat‑in kitchen, sitting room, and generous‑sized living room
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.5k | $25.44 |
| − Vacancy | −$4.1k | −$1.65 |
| EGI | $59.4k | $23.79 |
| − OpEx | −$17.8k | −$7.14 |
| NOI | $41.6k | $16.65 |
2,497 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$593.9K
$519.7K – $692.9K
NOI $41,576 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$471.4K
$412.5K – $550.0K
NOI $32,997 @ 7.0% cap · market cap 6.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-preserved 1830s two-family with updated interiors, fireplaces, attic storage, and basement space on a corner lot.
Where is this duplex located?
The property is located at 60 Colwell Road Smithfield, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Historic Smithfield two‑family home built in 1830, set on a 1.84‑acre corner lot; First‑floor unit: 3 bedrooms with over 1,300 SF, including 2 fireplaces, a large eat‑in kitchen, updated full bath, and laundry area; Second‑floor unit: 2 bedrooms with over 1,100 SF, updated eat‑in kitchen, sitting room, and generous‑sized living room
