Duplex with Private
New
For Sale
$585,000
73 Harrison St, Cumberland, RI 02864
Each residence includes granite countertops, an updated bathroom, private storage, and an oversized deck.
Property Size2,812 SF
Price / SF$208.04
Days on Market5
Property Features for 73 Harrison St
General Information
Standard status
Active
Size
2,812 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Road Access
Yes
Building Details
Year Built
1974
Buildings
1
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Pacheco Homes Team
Source:
Rhodeislandhomesforsale
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 10:15AM
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 Century 21 Limitless
Investment Insights
Based on property information with market context.
Built in 1974, this Cumberland duplex presents two separately entered residences with features that support independent occupancy. Each side includes an attached garage, dedicated storage, and an oversized private deck, along with granite countertops and an updated bathroom. Both units are scheduled for delivery vacant at closing.
The right-hand residence contains two bedrooms and one full bathroom. The left-hand residence also has two bedrooms, with one full bathroom and one half bathroom. Situated at 73 Harrison Street on a dead-end street, the property offers a duplex layout with distinct private outdoor and entry areas for each unit.
The right-hand residence contains two bedrooms and one full bathroom. The left-hand residence also has two bedrooms, with one full bathroom and one half bathroom. Situated at 73 Harrison Street on a dead-end street, the property offers a duplex layout with distinct private outdoor and entry areas for each unit.
Key Highlights
- Two‑unit duplex at 73 Harrison Street in Cumberland, RI
- Each unit has a private entrance and attached garage
- Dedicated storage space and oversized private deck for both units
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
$46,821
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
8.00%
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%
$936,420
$936.4K
Cap Rate 7%
$668,871
$668.9K
Cap Rate 9%
$520,233
$520.2K
Market Conditions
NOI Build-Up for 2,812 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
$71.5K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.9K $23.79/SF
− OpEx
−$20.1K −$7.14/SF
NOI
$46.8K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$936,420
Cap Rate 7%
$668,871
Cap Rate 9%
$520,233
Alternative Uses
Best Use
Multifamily LT 5
$668.9K
$585.3K – $780.4K
NOI $46,821 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$530.8K
$464.5K – $619.3K
NOI $37,159 @ 7.0% cap · market cap 6.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 02864, RI
36,376
Population
14,735
Households
2.5
Avg Household Size
43
Median Age
43%
College-Educated
92%
High-School Grad
26.5 sq mi
ZIP Area
1,373
Density / Sq Mi
$118,737
Median Household Income
$62,041
Median Earnings
$1,251
Median Rent
$394,800
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 - Each residence includes granite countertops, an updated bathroom, private storage, and an oversized deck.
Where is this duplex located?
The property is located at 73 Harrison St Cumberland, RI.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑unit duplex at 73 Harrison Street in Cumberland, RI; Each unit has a private entrance and attached garage; Dedicated storage space and oversized private deck for both units
