Two-Family Home with Separate
For Sale
$475,000
76 Dewey Street, Woonsocket, RI 02895
Residential Income, Woonsocket, RI
Property Size1,784 SF
Lot Size0.11 Acres
Price / SF$266.26
Days on Market8
Property Features for 76 Dewey Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2, Bedroom 4
Parking
4
Parking features
None
Patio and Porch features
Porch
Exterior features
Porch
Basement
Full, Unfinished, Storage Space
Subdivision
East
Lot features
Out Building, Paved Driveway
Standard status
Active
Size
1,784 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4032
Utilities
Heating system
Oil, Baseboard
Amenities
separate porches
full basement
large storage shed
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Laminate, Tile - Ceramic
Building materials
Vinyl Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Shannon Krasnowiecki
(401) 487-2936
Added: Aug 19
Changed: Aug 21
Last Checked: Aug 26 at 7:06AM
MLS# 1421074
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.
Built in 1930, this 1,784-square-foot duplex contains two residential units, each arranged with two bedrooms and one full bathroom. Separate porches serve the units, while a full basement and large storage shed provide additional storage. Vinyl siding and a combination of vinyl, laminate, and ceramic tile flooring are among the property’s physical features. Heating is provided by oil-fired baseboard systems.
The property is located in Woonsocket, RI, near shopping, restaurants, schools, major highways, and commuter routes. Its 0.11-acre lot supports a compact residential income configuration with two distinct living spaces and shared supporting areas.
The property is located in Woonsocket, RI, near shopping, restaurants, schools, major highways, and commuter routes. Its 0.11-acre lot supports a compact residential income configuration with two distinct living spaces and shared supporting areas.
Key Highlights
- Two‑unit duplex with 1,784 square feet of property area
- Each unit includes 2 bedrooms and 1 full bathroom
- Separate porches provide dedicated exterior space 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
$29,704
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
6.25%
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%
$594,080
$594.1K
Cap Rate 7%
$424,343
$424.3K
Cap Rate 9%
$330,044
$330.0K
Market Conditions
NOI Build-Up for 1,784 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
$45.4K $25.44/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$42.4K $23.79/SF
− OpEx
−$12.7K −$7.14/SF
NOI
$29.7K $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%
$594,080
Cap Rate 7%
$424,343
Cap Rate 9%
$330,044
Alternative Uses
Best Use
Multifamily LT 5
$424.3K
$371.3K – $495.1K
NOI $29,704 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$336.8K
$294.7K – $392.9K
NOI $23,575 @ 7.0% cap · market cap 4.96%
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
Highway access
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 02895, RI
43,269
Population
19,443
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
82%
High-School Grad
7.8 sq mi
ZIP Area
5,547
Density / Sq Mi
$58,579
Median Household Income
$40,929
Median Earnings
$1,116
Median Rent
$267,900
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 - 1930 duplex with two residential units, basement storage, and a detached storage shed on a 0.11-acre lot.
Where is this duplex located?
The property is located at 76 Dewey Street Woonsocket, 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: Two‑unit duplex with 1,784 square feet of property area; Each unit includes 2 bedrooms and 1 full bathroom; Separate porches provide dedicated exterior space for both units
