Renovated Side-by-Side
New
For Sale
$475,000
65 New London Ave, Warwick, RI 02886
Two-family property with updated systems, ample parking, and convenient access to shopping, schools, highways, and transit.
Property Size1,775 SF
Price / SF$267.61
Days on Market5
Property Features for 65 New London Ave
General Information
Standard status
Active
Size
1,775 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Innovations Realty
(401) 481-7357
Listed By:
Madelynn Duarte · License #RES.00334400
Source:
Alpernandmesenbourg
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 7:14AM
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 Innovations Realty
Investment Insights
Based on property information with market context.
This side-by-side duplex offers 1,775 square feet of residential space across two family units. Built in 1925, the property has received extensive updates, including a new roof, vinyl siding, refreshed interiors, and major system improvements. The configuration supports continued rental use and provides a practical option for an owner-occupant seeking a two-family residence.
Set in Warwick, the property includes ample parking and a large lot. Its location provides access to highways, shopping, restaurants, schools, and public transportation, supporting everyday convenience for both residents and tenants.
Set in Warwick, the property includes ample parking and a large lot. Its location provides access to highways, shopping, restaurants, schools, and public transportation, supporting everyday convenience for both residents and tenants.
Key Highlights
- Side‑by‑side two‑family configuration
- 1,775 square feet of residential space
- Built in 1925 with extensive renovations
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
$25,791
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
5.43%
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%
$515,820
$515.8K
Cap Rate 7%
$368,443
$368.4K
Cap Rate 9%
$286,567
$286.6K
Market Conditions
NOI Build-Up for 1,775 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
$39.4K $22.20/SF
− Vacancy
−$2.6K −$1.44/SF
EGI
$36.8K $20.76/SF
− OpEx
−$11.1K −$6.23/SF
NOI
$25.8K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /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%
$515,820
Cap Rate 7%
$368,443
Cap Rate 9%
$286,567
Alternative Uses
Best Use
Multifamily LT 5
$368.4K
$322.4K – $429.9K
NOI $25,791 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$338.5K
$296.2K – $394.9K
NOI $23,693 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$444.6K
$389.0K – $518.7K
NOI $31,119 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 02886, RI
29,373
Population
13,669
Households
2.1
Avg Household Size
47
Median Age
37%
College-Educated
93%
High-School Grad
15.8 sq mi
ZIP Area
1,859
Density / Sq Mi
$91,037
Median Household Income
$52,851
Median Earnings
$1,300
Median Rent
$334,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with updated systems, ample parking, and convenient access to shopping, schools, highways, and transit.
Where is this duplex located?
The property is located at 65 New London Ave Warwick, RI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Side‑by‑side two‑family configuration; 1,775 square feet of residential space; Built in 1925 with extensive renovations
