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 Market49
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
Source:
Alpernandmesenbourg
Added: Jul 28
Changed: Sep 8
Last Checked: Sep 13 at 12:53PM
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
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 = 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
$33,471
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
3.42%
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%
$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
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
$51.2K $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 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%
$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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,806
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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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 - 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
