Two-Unit Duplex with Large
For Sale
$579,300
76 Pleasant Street, Westerly, RI 02891
Separate living units offer four bedrooms, outdoor space, and convenient access to downtown Westerly and nearby beaches.
Property Size3,483 SF
Price / SF$166.32
Days on Market56
Property Features for 76 Pleasant Street
General Information
Standard status
Active
Size
3,483 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R6
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,389
Amenities
Golf, Other, Pool, Restaurant, Tennis Court(s), Sidewalks
Natural Gas
Exterior Entry, Full, Interior Entry, Unfinished
Gas Water Heater
Paved, No Garage
Stacked
Building Details
Building Size
3,483 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
Engel & Volkers Oceanside
Listed By:
Brian Turano · License #REB.0018543
(401) 741-7736
Source:
Evrealestate
Added: Aug 20
Changed: Oct 4
Last Checked: Oct 12 at 6:59PM
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 Engel & Volkers Oceanside
Investment Insights
Based on property information with market context.
This 3,483-square-foot duplex, built in 1900, contains two separate living units with a combined total of 4 bedrooms and 2 baths. The property also includes a large backyard and an ample parking area, adding useful outdoor and site features for residents or an owner-occupant.
Located within walking distance of Downtown Westerly, the property is near shops, restaurants, entertainment, community amenities, and the Westerly Downtown Historic District. Westerly and Misquamicut beaches are approximately a 10-minute drive away, providing access to the Southern Rhode Island coastline.
Located within walking distance of Downtown Westerly, the property is near shops, restaurants, entertainment, community amenities, and the Westerly Downtown Historic District. Westerly and Misquamicut beaches are approximately a 10-minute drive away, providing access to the Southern Rhode Island coastline.
Key Highlights
- Two‑unit duplex with 4 bedrooms and 2 baths
- 3,483 square feet; built in 1900
- Large backyard and ample parking area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,012
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$840,240
$840.2K
Cap Rate 7%
$600,171
$600.2K
Cap Rate 9%
$466,800
$466.8K
Market Conditions
NOI Build-Up for 3,483 SF
Gross rent
$62.7K $18.00/SF
− Vacancy
−$2.7K −$0.77/SF
EGI
$60.0K $17.23/SF
− OpEx
−$18.0K −$5.17/SF
NOI
$42.0K $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 Rate 5%
$840,240
Cap Rate 7%
$600,171
Cap Rate 9%
$466,800
Alternative Uses
Best Use
Multifamily LT 5
$600.2K
$525.2K – $700.2K
NOI $42,012 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$523.7K
$458.3K – $611.0K
NOI $36,662 @ 7.0% cap · market cap 6.33%
Theoretical Best
Healthcare Medical
$695.9K
$608.9K – $811.9K
NOI $48,713 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
717
Businesses Nearby
Explore this area
Business Placement
Demographics for 02891, RI
21,803
Population
12,660
Households
1.7
Avg Household Size
50
Median Age
41%
College-Educated
94%
High-School Grad
26.3 sq mi
ZIP Area
829
Density / Sq Mi
$90,435
Median Household Income
$49,448
Median Earnings
$1,249
Median Rent
$422,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate living units offer four bedrooms, outdoor space, and convenient access to downtown Westerly and nearby beaches.
Where is this duplex located?
The property is located at 76 Pleasant Street Westerly, RI.
What is the asking price?
The asking price for this property is $579,300.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms and 2 baths; 3,483 square feet; built in 1900; Large backyard and ample parking area
