Two-Unit Townhouse
New
For Sale
$784,900
93 Ninigret Road, Narragansett, RI 02882
Residential Income, Narragansett, RI
Property Size2,146 SF
Lot Size0.34 Acres
Price / SF$365.75
Days on Market4
Property Features for 93 Ninigret Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-10
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
Parking
4
Parking features
None
Window features
Insulated Windows
Interior features
Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Cap), Insulation (Ceiling), Insulation (Walls)
Appliances
Electric Water Heater
Subdivision
Rio Vista
Lot features
Paved Driveway, Wooded
Standard status
Active
Size
2,146 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3839
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1975
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Vinyl Siding
Buildings
1
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Greg Dantas · License #REB.0017244
(401) 742-3329
Added: Nov 3
Last Checked: Nov 6 at 6:06AM
MLS# 1427567
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.
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Investment Insights
Based on property information with market context.
This legal duplex contains 2,146 square feet across two townhouse-style residences. Each unit is configured with two bedrooms and one-and-a-half bathrooms. The 0.34-acre parcel is served by town water and sewer, and the property is zoned R-10. The 1975 building has vinyl siding, hardwood and ceramic tile flooring, and electric baseboard heat.
Ninigret Road is one block from Narrow River. Bonnet Shores Beach is 1.6 miles away, while Narragansett Pier and Town Beach are 4 miles from the property. The URI Bay Campus is 2.2 miles away; the University of Rhode Island’s main campus is a 10-minute drive, and Kingston Amtrak station is 12 minutes away.
Ninigret Road is one block from Narrow River. Bonnet Shores Beach is 1.6 miles away, while Narragansett Pier and Town Beach are 4 miles from the property. The URI Bay Campus is 2.2 miles away; the University of Rhode Island’s main campus is a 10-minute drive, and Kingston Amtrak station is 12 minutes away.
Key Highlights
- Legal two‑family property with two townhouse‑style residences
- Each unit has 2 bedrooms and 1.5 bathrooms
- 2,146 square feet on a 0.34‑acre parcel
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
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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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has 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: Legal two‑family property with two townhouse‑style residences; Each unit has 2 bedrooms and 1.5 bathrooms; 2,146 square feet on a 0.34‑acre parcel
