Waterfront Duplex
New
For Sale
$850,000
Pending
740 Moonstone Beach Road, South Kingstown, RI 02879
Residential Income, South Kingstown, RI
Property Size2,882 SF
Lot Size2.15 Acres
Days on Market3
Property Features for 740 Moonstone Beach Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R80
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 2, Basement, Bedroom 1
Parking
11
Interior features
Stairs, Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Partial, Unfinished
Subdivision
Matunuck
Lot features
Out Building
Standard status
Pending
Size
2,882 SF
Lot size
2.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6103
Utilities
Sewer type
Septic Tank
Heating system
Oil
Water front features
Waterfront
Water front
1
Building Details
Year built
1726
Number of units
2
Building materials
Shingles, Wood
Listing Agency:
Mott & Chace Sotheby's Intl. · Sotheby's International Realty
(401) 789-8899
Listed By:
Kelly Holmes · License #RES.0041620
(914) 497-7603
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 6:06AM
MLS# 1420891
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.
Investment Insights
Based on property information with market context.
This duplex property occupies 2.15 acres and includes buildings identified as condemned. The property is recorded at 2,882 square feet and dates to 1726, with wood construction and shingle materials. Interior features include stairs, mixed plumbing, insulation of unknown status, a basement, five bedrooms, three bathrooms, and a fireplace. Heating is oil-based, and the property is served by a septic tank.
Waterfront features are present at 740 Moonstone Beach Road in South Kingstown, Rhode Island. The parcel carries R80 zoning. Due to the condemned condition of the buildings, the property should not be entered or walked.
Waterfront features are present at 740 Moonstone Beach Road in South Kingstown, Rhode Island. The parcel carries R80 zoning. Due to the condemned condition of the buildings, the property should not be entered or walked.
Key Highlights
- 2.15‑acre parcel with waterfront features
- Buildings have been condemned; property should not be walked
- 2,882 square feet recorded property size
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
$34,763
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
4.09%
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%
$695,260
$695.3K
Cap Rate 7%
$496,614
$496.6K
Cap Rate 9%
$386,256
$386.3K
Market Conditions
NOI Build-Up for 2,882 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
$51.9K $18.00/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$49.7K $17.23/SF
− OpEx
−$14.9K −$5.17/SF
NOI
$34.8K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /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%
$695,260
Cap Rate 7%
$496,614
Cap Rate 9%
$386,256
Alternative Uses
Best Use
Multifamily LT 5
$496.6K
$434.5K – $579.4K
NOI $34,763 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$433.4K
$379.2K – $505.6K
NOI $30,336 @ 7.0% cap · market cap 3.57%
Theoretical Best
Healthcare Medical
$575.8K
$503.9K – $671.8K
NOI $40,308 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 02879, RI
20,982
Population
11,959
Households
1.8
Avg Household Size
51
Median Age
59%
College-Educated
95%
High-School Grad
39.5 sq mi
ZIP Area
531
Density / Sq Mi
$115,848
Median Household Income
$56,125
Median Earnings
$1,281
Median Rent
$515,800
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 - Waterfront duplex parcel with condemned buildings and a residential layout including three bathrooms and multiple bedrooms.
Where is this duplex located?
The property is located at 740 Moonstone Beach Road South Kingstown, RI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2.15‑acre parcel with waterfront features; Buildings have been condemned; property should not be walked; 2,882 square feet recorded property size
