Two-Unit Duplex With Detached
For Sale
$565,000
Pending
9 Southern Street, Cranston, RI 02920
MULTI_FAMILY - Cranston, RI
Property Size3,186 SF
Lot Size0.15 Acres
Days on Market292
Property Features for 9 Southern Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 1, Basement, Bedroom 2, Bedroom 1
Parking
9
Basement
Full, Unfinished
Standard status
Pending
Size
3,186 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4781
Utilities
Heating system
Natural Gas, Steam
Amenities
skylight
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood
Building materials
Shingles
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: Oct 15, 2025
Changed: Jul 31
Last Checked: Aug 2 at 2:06AM
MLS# 1397885
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex at 9 Southern Street, Cranston, RI features two spacious apartments, each with two bedrooms and one full bathroom. Oversized living rooms provide comfortable main living space, and each unit also includes an additional room that could be converted into another bedroom. The basement offers potential to be finished for additional living area. An attic skylight is already in place, with views of downtown, and the space may be transformed into more usable living area. Hardwood flooring and shingle exterior materials are part of the property’s character. Heating is natural gas steam.
The property sits on a private, wooded 0.15-acre lot. A detached 3-car garage is on-site and would need some TLC to be restored, along with extra off-street parking for added convenience. The home is located near major highways and everyday amenities such as shopping and dining. For outdoor recreation, there is a very large playground directly across the street.
Built in 1920 and totaling 3,186 square feet, the layout is designed to support flexible living arrangements and evolving interior use.
The property sits on a private, wooded 0.15-acre lot. A detached 3-car garage is on-site and would need some TLC to be restored, along with extra off-street parking for added convenience. The home is located near major highways and everyday amenities such as shopping and dining. For outdoor recreation, there is a very large playground directly across the street.
Built in 1920 and totaling 3,186 square feet, the layout is designed to support flexible living arrangements and evolving interior use.
Key Highlights
- Two‑unit duplex with each apartment offering two bedrooms and one full bathroom
- Oversized living rooms plus an additional room in each unit that could be converted into another bedroom
- Basement offers potential to be finished for added living space
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.4k | $25.56 |
| − Vacancy | −$4.9k | −$1.53 |
| EGI | $76.5k | $24.03 |
| − OpEx | −$34.4k | −$10.81 |
| NOI | $42.1k | $13.21 |
3,186 SF · lease $25.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$757.8K
$663.1K – $884.1K
NOI $53,048 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$601.4K
$526.3K – $701.7K
NOI $42,101 @ 7.0% cap · market cap 7.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
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 - Duplex with two units, hardwood floors, and natural gas steam heat, set on a private wooded lot.
Where is this duplex located?
The property is located at 9 Southern Street Cranston, RI.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two‑unit duplex with each apartment offering two bedrooms and one full bathroom; Oversized living rooms plus an additional room in each unit that could be converted into another bedroom; Basement offers potential to be finished for added living space
