Renovated Side-by-Side
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 Market50
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
Listed By:
Madelynn Duarte · License #RES.00334400
(401) 481-7357
Source:
Alpernandmesenbourg
Added: Aug 25
Changed: Oct 4
Last Checked: Oct 7 at 2:45PM
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 / Yr
$25,791
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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-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
