Two-Unit Townhouse-Style
93 Ninigret Road, Narragansett, RI 02882
For Sale
New
$784,900
Both residences offer two bedrooms and one and a half baths, with town water and sewer service.
Property Size2,146 SF
Lot Size0.34 Acres
Price / SF$365.75
Days on Market5
Property Features for 93 Ninigret Road
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
RI Real Estate Services
(401) 885-5400
Listed By:
Greg Dantas · License #REB.0017244
(401) 742-3329
Source:
Lockandkeyre
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 9:40AM
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 RI Real Estate Services
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Investment Insights
Based on property information with market context.
This 1975 duplex contains two townhouse-style residences, each configured with 2 bedrooms and 1.5 baths. The property includes 2,146 square feet of building area on a 15,000-square-foot parcel. Town water and sewer serve the site, and neither unit has a lease in place.
Narrow River is one block away. Bonnet Shores Beach is 1.6 miles from the property, while Narragansett Pier and Town Beach are 4 miles away. The URI Bay Campus is 2.2 miles distant; the University of Rhode Island main campus is a 10-minute drive, and Kingston Amtrak Train Station is 12 minutes away. Historic Newport and Naval War College are approximately 20 minutes away.
Narrow River is one block away. Bonnet Shores Beach is 1.6 miles from the property, while Narragansett Pier and Town Beach are 4 miles away. The URI Bay Campus is 2.2 miles distant; the University of Rhode Island main campus is a 10-minute drive, and Kingston Amtrak Train Station is 12 minutes away. Historic Newport and Naval War College are approximately 20 minutes away.
Key Highlights
- Two townhouse‑style units, each with 2 bedrooms and 1.5 baths
- 2,146 square feet of building area on a 15,000‑square‑foot parcel
- Built in 1975; served by town water and sewers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,885
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,700
$517.7K
Cap Rate 7%
$369,786
$369.8K
Cap Rate 9%
$287,611
$287.6K
Market Conditions
NOI Build-Up for 2,146 SF
Gross rent
$38.6K $18.00/SF
− Vacancy
−$1.6K −$0.77/SF
EGI
$37.0K $17.23/SF
− OpEx
−$11.1K −$5.17/SF
NOI
$25.9K $12.06/SF
Area
Washington County, RI
Vacancy
4.27%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,700
Cap Rate 7%
$369,786
Cap Rate 9%
$287,611
Alternative Uses
Best Use
Multifamily LT 5
$369.8K
$323.6K – $431.4K
NOI $25,885 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$322.7K
$282.4K – $376.5K
NOI $22,589 @ 7.0% cap · market cap 2.88%
Theoretical Best
Healthcare Medical
$428.8K
$375.2K – $500.2K
NOI $30,014 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
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Business Placement
Demographics for 02882, RI
12,919
Population
8,870
Households
1.5
Avg Household Size
52
Median Age
64%
College-Educated
98%
High-School Grad
12.8 sq mi
ZIP Area
1,009
Density / Sq Mi
$95,794
Median Household Income
$44,042
Median Earnings
$1,661
Median Rent
$686,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Washington County, RI
Properties on Market for Duplexes in Washington County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms and one and a half baths, with town water and sewer service.
Where is this duplex located?
The property is located at 93 Ninigret Road Narragansett, RI.
What is the asking price?
The asking price for this property is $784,900.
What are key features of this property?
This property features: Two townhouse‑style units, each with 2 bedrooms and 1.5 baths; 2,146 square feet of building area on a 15,000‑square‑foot parcel; Built in 1975; served by town water and sewers
