Two-Unit Duplex with Walkout
8 Thomas Avenue, Pawtucket, RI 02860
For Sale
$490,000
Two updated residences offer a two-bedroom, one-bath layout with hardwood flooring in each unit.
Property Size2,124 SF
Price / SF$230.70
Days on Market58
Property Features for 8 Thomas Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
hardwood floors
refreshed kitchens
refreshed bathrooms
private backyard
full walkout basement
Building Details
Building Size
Year Built
Listing Agency:
Redfin Corporation
Listed By:
Alysandra Nemeth · License #RES.0043520
(860) 575-3434
Source:
Pooleproperties
Added: Sep 11
Changed: Nov 7
Last Checked: Nov 7 at 12:42PM
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 Redfin Corporation
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Investment Insights
Based on property information with market context.
This duplex contains two residential units, each arranged with two bedrooms and one full bathroom. Hardwood flooring runs through both homes, and the kitchens and bathrooms have been refreshed. The property totals 2,124 square feet and dates to 1900.
A full walkout basement adds unfinished space that may be used for storage or recreation. The lot includes a backyard.
A full walkout basement adds unfinished space that may be used for storage or recreation. The lot includes a backyard.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- 2,124 square feet of building area
- Full walkout basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,366
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,320
$707.3K
Cap Rate 7%
$505,229
$505.2K
Cap Rate 9%
$392,956
$393.0K
Market Conditions
NOI Build-Up for 2,124 SF
Gross rent
$54.0K $25.44/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$50.5K $23.79/SF
− OpEx
−$15.2K −$7.14/SF
NOI
$35.4K $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 Rate 5%
$707,320
Cap Rate 7%
$505,229
Cap Rate 9%
$392,956
Alternative Uses
Best Use
Multifamily LT 5
$505.2K
$442.1K – $589.4K
NOI $35,366 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$401.0K
$350.9K – $467.8K
NOI $28,068 @ 7.0% cap · market cap 5.73%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
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Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Pawtucket, RI
Properties on Market for Duplexes in Pawtucket
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer a two-bedroom, one-bath layout with hardwood flooring in each unit.
Where is this duplex located?
The property is located at 8 Thomas Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; 2,124 square feet of building area; Full walkout basement
