Duplex with Two-Car
New
For Sale
$512,500
65 Laurel Street, Hopkinton, RI 02804
Two separate apartments offer in-unit laundry hookups, independent heating, and separate electric service.
Property Size2,180 SF
Lot Size1.30 Acres
Price / SF$235.09
Days on Market3
Property Features for 65 Laurel Street
General Information
Standard status
Active
Size
2,180 SF
Total Parking Spaces
2
Lot size
1.30 Acres
Property subtype
MultiFamily
Zoning
RFR-80
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Building Details
Year Built
1890
Stories
3
Listing Agency:
Addison Realty
(401) 377-8800
Listed By:
Richard Pinkhover · License #REB.0014900
Source:
Lockandkeyre
Added: Oct 4
Changed: Oct 6
Last Checked: Oct 5 at 4:15PM
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 Addison Realty
Investment Insights
Based on property information with market context.
This legal two-family property contains 2,180 square feet across a one-bedroom apartment on the ground floor and a three-bedroom unit spanning the second and third floors. Both apartments have washer and dryer hookups, separate heat, and separate electric service. The property also includes a two-car garage and two sizable outbuildings described as being in good condition. Water is supplied by a well, with a septic system serving the property.
The building dates to 1890 and sits on a cleared 1.3-acre parcel zoned RFR-80. I-95 is accessible to the north and south, and the property is within walking distance of the Pawcatuck River. Ashaway Elementary School and Crandall recreational field are nearby; downtown Westerly is approximately 8 minutes away, Mystic is 15 minutes away, and Rhode Island beaches are 18 minutes away.
The building dates to 1890 and sits on a cleared 1.3-acre parcel zoned RFR-80. I-95 is accessible to the north and south, and the property is within walking distance of the Pawcatuck River. Ashaway Elementary School and Crandall recreational field are nearby; downtown Westerly is approximately 8 minutes away, Mystic is 15 minutes away, and Rhode Island beaches are 18 minutes away.
Key Highlights
- Legal two‑family property with 2,180 square feet
- Apartment mix: one 1‑bedroom unit and one 3‑bedroom unit
- 1.3‑acre cleared parcel, zoned RFR‑80
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,295
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,900
$525.9K
Cap Rate 7%
$375,643
$375.6K
Cap Rate 9%
$292,167
$292.2K
Market Conditions
NOI Build-Up for 2,180 SF
Gross rent
$39.2K $18.00/SF
− Vacancy
−$1.7K −$0.77/SF
EGI
$37.6K $17.23/SF
− OpEx
−$11.3K −$5.17/SF
NOI
$26.3K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,900
Cap Rate 7%
$375,643
Cap Rate 9%
$292,167
Alternative Uses
Best Use
Multifamily LT 5
$375.6K
$328.7K – $438.3K
NOI $26,295 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$327.8K
$286.8K – $382.5K
NOI $22,947 @ 7.0% cap · market cap 4.48%
Theoretical Best
Healthcare Medical
$435.6K
$381.1K – $508.2K
NOI $30,489 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 02804, RI
2,782
Population
1,182
Households
2.4
Avg Household Size
45
Median Age
24%
College-Educated
99%
High-School Grad
11.8 sq mi
ZIP Area
236
Density / Sq Mi
$101,392
Median Household Income
$50,026
Median Earnings
$1,318
Median Rent
$303,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments offer in-unit laundry hookups, independent heating, and separate electric service.
Where is this duplex located?
The property is located at 65 Laurel Street Hopkinton, RI.
What is the asking price?
The asking price for this property is $512,500.
What are key features of this property?
This property features: Legal two‑family property with 2,180 square feet; Apartment mix: one 1‑bedroom unit and one 3‑bedroom unit; 1.3‑acre cleared parcel, zoned RFR‑80
