2-Unit 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 Market54
Property Features for 7 Union Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2
Parking
4
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Full, Unfinished
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
Carpet, Vinyl, Hardwood
Building materials
Plaster, Aluminum Siding
Buildings
1
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Christine DiNardi · License #RES.0013895
(401) 480-1550
Added: Sep 9
Changed: Oct 28
Last Checked: Nov 1 at 4:06AM
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.
This 1,176-square-foot duplex contains two apartments: a one-bedroom unit with living and dining rooms, a kitchen, and a bathroom, and a second-floor two-bedroom unit with a living room, kitchen, and bathroom. A two-car garage provides additional parking or storage, and the property also has a porch. The building dates to 1900, and 22 thermopane windows have been installed.
Set within Warren’s historic district, the property is near shops, dining, and the water. No flood insurance is required, according to the property information.
Set within Warren’s historic district, the property is near shops, dining, and the water. No flood insurance is required, according to the property information.
Key Highlights
- Two apartments: one one‑bedroom layout and one two‑bedroom layout
- 1,176 square feet on a 0.059‑acre lot
- Two‑car garage offers parking or storage
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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Property Analytics
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct apartment layouts are complemented by a detached garage for parking or storage.
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 one‑bedroom layout and one two‑bedroom layout; 1,176 square feet on a 0.059‑acre lot; Two‑car garage offers parking or storage
