Fenced-Yard
For Sale
$479,000
Pending
82 Owen Ave, Pawtucket, RI 02860
Two residential units provide generous living areas, separate kitchens, laundry hookups, and substantial storage.
Property Size1,714 SF
Days on Market89
Property Features for 82 Owen Ave
General Information
Standard status
Pending
Size
1,714 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,627
Amenities
laundry hookups
storage space
fenced yard
Listing Agency:
eXp Realty
(508) 245-9458
Listed By:
Dee Webster
(508) 245-9458
Source:
Exprealty
Added: Jun 5
Changed: Aug 31
Last Checked: Aug 31 at 7:27PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex includes two residential units, each with a kitchen and a generously sized living room. The property is described as move-in ready and has been carefully maintained, allowing an owner or landlord to use the existing configuration without a renovation-focused setup. Lower-level laundry hookups and ample storage add practical utility for residents.
The property also includes a fenced private yard with flexible outdoor space. Located at 82 Owen Ave in Pawtucket’s Fairlawn section, the duplex may suit an owner-occupant who plans to rent the second unit to a qualified tenant.
The property also includes a fenced private yard with flexible outdoor space. Located at 82 Owen Ave in Pawtucket’s Fairlawn section, the duplex may suit an owner-occupant who plans to rent the second unit to a qualified tenant.
Key Highlights
- Two‑unit duplex configuration with a kitchen and large living room in each unit
- Fenced private yard with flexible outdoor‑use space
- Laundry hookups located downstairs
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
$28,539
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
5.96%
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%
$570,780
$570.8K
Cap Rate 7%
$407,700
$407.7K
Cap Rate 9%
$317,100
$317.1K
Market Conditions
NOI Build-Up for 1,714 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
$43.6K $25.44/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$40.8K $23.79/SF
− OpEx
−$12.2K −$7.14/SF
NOI
$28.5K $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%
$570,780
Cap Rate 7%
$407,700
Cap Rate 9%
$317,100
Alternative Uses
Best Use
Multifamily LT 5
$407.7K
$356.7K – $475.7K
NOI $28,539 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$323.6K
$283.1K – $377.5K
NOI $22,650 @ 7.0% cap · market cap 4.73%
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
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Explore this area
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
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 - Two residential units provide generous living areas, separate kitchens, laundry hookups, and substantial storage.
Where is this duplex located?
The property is located at 82 Owen Ave Pawtucket, RI.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two‑unit duplex configuration with a kitchen and large living room in each unit; Fenced private yard with flexible outdoor‑use space; Laundry hookups located downstairs
