Duplex with
For Sale
$450,000
7 Union Street, Warren, RI 02885
Residential Income, Warren, RI
Property Size1,176 SF
Lot Size0.06 Acres
Price / SF$382.65
Days on Market48
Property Features for 7 Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1
Parking
4
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Unfinished, Full
Appliances
Dishwasher, Dryer, Range Hood, Oven, Range, Refrigerator, Washer, Electric Water Heater
Subdivision
Water St.
Lot features
Local Historic District, Paved Driveway, Sidewalks
Standard status
Active
Size
1,176 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3931
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Carpet, Vinyl
Building materials
Plaster, Aluminum Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Christine DiNardi
(401) 480-1550
Added: Sep 9
Changed: Oct 20
Last Checked: Oct 26 at 8:06AM
MLS# 1422186
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.
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Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two apartments within 1,176 square feet. The first has one bedroom, a living room, dining room, kitchen, and bathroom; the second includes two bedrooms, a living room, kitchen, and bathroom. A two-car garage and porch are also on the 0.059-acre property. Thermopane windows have been replaced, and the home includes a mix of hardwood, carpet, and vinyl flooring, along with a range, oven, refrigerator, dishwasher, washer, and dryer.
The property is in Warren’s historic district, near stores, dining, and the water. No flood insurance is required, according to the supplied property information.
The property is in Warren’s historic district, near stores, dining, and the water. No flood insurance is required, according to the supplied property information.
Key Highlights
- Two apartments: one with 1 bedroom and one with 2 bedrooms
- 1,176‑square‑foot building on a 0.059‑acre lot
- Two‑car garage and porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,858
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,160
$397.2K
Cap Rate 7%
$283,686
$283.7K
Cap Rate 9%
$220,644
$220.6K
Market Conditions
NOI Build-Up for 1,176 SF
Gross rent
$30.3K $25.80/SF
− Vacancy
−$2.0K −$1.68/SF
EGI
$28.4K $24.12/SF
− OpEx
−$8.5K −$7.24/SF
NOI
$19.9K $16.89/SF
Area
Bristol County, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,160
Cap Rate 7%
$283,686
Cap Rate 9%
$220,644
Alternative Uses
Best Use
Multifamily LT 5
$283.7K
$248.2K – $331.0K
NOI $19,858 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$254.8K
$223.0K – $297.3K
NOI $17,837 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$393.4K
$344.3K – $459.0K
NOI $27,541 @ 7.0% cap · market cap 6.12%
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
660
Businesses Nearby
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Business Placement
Demographics for 02885, RI
11,147
Population
5,546
Households
2
Avg Household Size
47
Median Age
36%
College-Educated
90%
High-School Grad
6.2 sq mi
ZIP Area
1,798
Density / Sq Mi
$89,722
Median Household Income
$53,980
Median Earnings
$1,253
Median Rent
$363,900
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
Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments offer one- and two-bedroom layouts in Warren’s historic district.
Where is this duplex located?
The property is located at 7 Union Street Warren, RI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two apartments: one with 1 bedroom and one with 2 bedrooms; 1,176‑square‑foot building on a 0.059‑acre lot; Two‑car garage and porch
