Tenant-Occupied Two-Unit Duplex with
For Sale
$979,000
82 Burnside Ave, Newport, RI 02840
Duplex with tenant-occupied units, two off-street parking spaces, a private rear patio, and separate utilities.
Property Size2,004 SF
Price / SF$488.52
Days on Market94
Property Features for 82 Burnside Ave
General Information
Standard status
Active
Size
2,004 SF
Property subtype
Multi-Family
Building Details
Year Built
1890
Listing Agency:
CARTY REALTY
Listed By:
David Carty · License #REB.0016121
(401) 792-3815
Source:
Alpernandmesenbourg
Added: Jul 28
Changed: Oct 26
Last Checked: Oct 7 at 4:54PM
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 CARTY REALTY
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Investment Insights
Based on property information with market context.
This tenant-occupied two-unit duplex offers a first-floor unit that has been beautifully renovated and is currently rented. The second and third floors are configured as a townhouse-style unit with four bedrooms, a living room, and an eat-in kitchen, and it is also currently rented. The property includes a private rear patio and two off-street parking spaces.
Separate utilities support each unit. The home was built in 1890 and features newer heating systems, providing updated comfort for both tenants.
Conveniently located near the Navy Base, with Broadway and Downtown Newport just minutes away, the duplex is positioned for strong day-to-day accessibility.
Separate utilities support each unit. The home was built in 1890 and features newer heating systems, providing updated comfort for both tenants.
Conveniently located near the Navy Base, with Broadway and Downtown Newport just minutes away, the duplex is positioned for strong day-to-day accessibility.
Key Highlights
- Two‑unit duplex with both units currently rented
- First‑floor unit renovated and tenant‑occupied
- Townhouse‑style unit on second and third floors with four bedrooms plus living room and eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,471
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,420
$669.4K
Cap Rate 7%
$478,157
$478.2K
Cap Rate 9%
$371,900
$371.9K
Market Conditions
NOI Build-Up for 2,004 SF
Gross rent
$51.2K $25.56/SF
− Vacancy
−$3.4K −$1.70/SF
EGI
$47.8K $23.86/SF
− OpEx
−$14.3K −$7.16/SF
NOI
$33.5K $16.70/SF
Area
Newport County, RI
Vacancy
6.65%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,420
Cap Rate 7%
$478,157
Cap Rate 9%
$371,900
Alternative Uses
Best Use
Multifamily LT 5
$478.2K
$418.4K – $557.9K
NOI $33,471 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$425.2K
$372.1K – $496.1K
NOI $29,767 @ 7.0% cap · market cap 3.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,806
Businesses Nearby
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Business Placement
Demographics for 02840, RI
23,902
Population
13,515
Households
1.8
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
3,274
Density / Sq Mi
$83,515
Median Household Income
$41,228
Median Earnings
$1,610
Median Rent
$669,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with tenant-occupied units, two off-street parking spaces, a private rear patio, and separate utilities.
Where is this duplex located?
The property is located at 82 Burnside Ave Newport, RI.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Two‑unit duplex with both units currently rented; First‑floor unit renovated and tenant‑occupied; Townhouse‑style unit on second and third floors with four bedrooms plus living room and eat‑in kitchen
