Renovated Duplex with New
88 Franklin Street, Bristol, RI 02809
For Sale
New
$745,000
Both residences are vacant and feature updated kitchens, bathrooms, flooring, and electrical service.
Property Size1,900 SF
Price / SF$392.11
Days on Market3
Property Features for 88 Franklin Street
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Amenities
off-street parking
backyard
Building Details
Year Built
Buildings
Listing Agency:
Peak Real Estate
(774) 704-6877
Listed By:
Christopher Mongeon · License RI REB.0019551
(774) 992-8511
Source:
Lockandkeyre
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:23PM
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 Peak Real Estate
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Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex, built in 1900, has been extensively renovated. Each unit includes a new kitchen with cabinetry, countertops, and appliances, including a dishwasher. Hardwood floors run through both residences, and the property has two renovated bathrooms. Exterior improvements include new vinyl siding and a new roof, along with updated electrical service. The property is delivered vacant.
Off-street parking and a backyard add outdoor space to the property. The home is within walking distance of Bristol’s waterfront, downtown, shops, and restaurants.
Off-street parking and a backyard add outdoor space to the property. The home is within walking distance of Bristol’s waterfront, downtown, shops, and restaurants.
Key Highlights
- Two units delivered vacant
- Each unit has a new kitchen with cabinetry, countertops, and appliances, including a dishwasher
- Two renovated bathrooms and hardwood floors throughout both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,084
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,680
$641.7K
Cap Rate 7%
$458,343
$458.3K
Cap Rate 9%
$356,489
$356.5K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$49.0K $25.80/SF
− Vacancy
−$3.2K −$1.68/SF
EGI
$45.8K $24.12/SF
− OpEx
−$13.8K −$7.24/SF
NOI
$32.1K $16.89/SF
Area
Bristol County, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,680
Cap Rate 7%
$458,343
Cap Rate 9%
$356,489
Alternative Uses
Best Use
Multifamily LT 5
$458.3K
$401.1K – $534.7K
NOI $32,084 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$411.7K
$360.2K – $480.3K
NOI $28,818 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$635.7K
$556.2K – $741.6K
NOI $44,496 @ 7.0% cap · market cap 5.97%
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
686
Businesses Nearby
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Business Placement
Demographics for 02809, RI
22,493
Population
9,670
Households
2.3
Avg Household Size
44
Median Age
46%
College-Educated
92%
High-School Grad
9.8 sq mi
ZIP Area
2,295
Density / Sq Mi
$96,005
Median Household Income
$41,266
Median Earnings
$1,352
Median Rent
$447,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Bristol County, RI
Properties on Market for Duplexes in Bristol County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant and feature updated kitchens, bathrooms, flooring, and electrical service.
Where is this duplex located?
The property is located at 88 Franklin Street Bristol, RI.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Two units delivered vacant; Each unit has a new kitchen with cabinetry, countertops, and appliances, including a dishwasher; Two renovated bathrooms and hardwood floors throughout both units
