$140,000
$5K PRICE DROP

48 Lane 2 Warwick, RI 02888

Palace Garden Neighborhood

Estimated payment $1,370/month

Total Views 88,154
1 Bed
1 Bath
621 Sq Ft
$225 Price per Sq Ft

Highlights

  • Beach Access
  • Wooded Lot
  • Cabin
  • Guest House
  • Heating Available
  • 1-Story Property

About This Home

Investors and Contractors- looking for your next project? This property needs a complete renovation and offers an incredible opportunity, located in the charming Gaspee Point Community, steps from private beach access. The location of this property is fantastic. It's at the end of the street and has a great lot. It is minutes away from Pawtuxet Village with its amazing shops and restaurants. A true diamond in the rough. This property is being sold as-is/as seen and will not qualify for financing.

Listing Agent

Kara Guerette

RE/MAX Professionals License #RES.0042552 Listed on: 11/15/2025

RE/MAX Professionals

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,296

Year Built

  • Built in 1935

Lot Details

  • Wooded Lot
  • Land Lease

HOA Fees

  • $452 Monthly HOA Fees

Home Design

  • Cabin
  • Stone Foundation

Interior Spaces

  • 621 Sq Ft Home
  • 1-Story Property
  • Unfinished Basement
  • Crawl Space

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Full Bathroom

Parking

  • 2 Parking Spaces
  • No Garage

Outdoor Features

  • Beach Access
  • Water Access
  • Walking Distance to Water

Additional Homes

  • Guest House

Utilities

  • No Cooling
  • Heating Available
  • Electricity Not Available
  • No Hot Water

Community Details

  • Gaspee Point Subdivision

Listing and Financial Details

  • Tax Lot 0058/9648
  • Assessor Parcel Number 48LANE2WARW

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,296

Year Built

Built in 1935

Lot Details

0

HOA Fees

$452 per month

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Inclusions: The land lease is $361.00, and the sewer assessment is $91.00 for a total of $452.00. The owner has never lived in the property. The property has been gutted.
  • Subdivision Name: Gaspee Point
  • Above Grade Finished Sq Ft: 621.0
  • Architectural Style: Cabin
  • Garage Yn: No
  • Unit Levels: One
  • New Construction: No
  • Building Stories: 1
  • Year Built: 1935
  • Property Sub Type Additional: Single Family Residence
  • Special Features: VirtualTour
  • Stories: 1

Interior Features

  • Appliances: No Hot Water
  • Has Basement: Crawl Space, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 1
  • Total Bedrooms: 1
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Other
  • Living Area: 621.0
  • Stories: 1

Exterior Features

  • Lot Features: Wooded
  • Waterfront Features: Beach Access, Water Access, Walk to Water
  • Foundation Details: Stone
  • Other Structures: Guest House

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 2.0

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Electric, None
  • Heating Yn: No
  • Electric: None
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Association Fee: 452.0
  • Association Fee Frequency: Monthly

Lot Info

  • Land Lease: Yes
  • Parcel #: 48LANE2WARW

Tax Info

  • Tax Annual Amount: 2296.0
  • Tax Lot: 0058/9648
  • Tax Year: 2025

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,296 $180,800 $0 $180,800
2024 $1,272 $87,900 $0 $87,900
2023 $1,247 $87,900 $0 $87,900
2022 $850 $45,400 $0 $45,400
2021 $850 $45,400 $0 $45,400
2020 $850 $45,400 $0 $45,400
2019 $850 $45,400 $0 $45,400
2018 $924 $44,400 $0 $44,400
2017 $899 $44,400 $0 $44,400
2016 $899 $44,400 $0 $44,400
2015 $766 $36,900 $0 $36,900
2014 $740 $36,900 $0 $36,900
2013 $730 $36,900 $0 $36,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/15/2026 01/15/26 Price Changed $140,000 -3.4% $225 / Sq Ft
11/15/2025 11/15/25 For Sale $145,000 +190.0% $233 / Sq Ft
12/29/2021 12/29/21 Sold $50,000 0.0% $81 / Sq Ft View Prior Sale
11/29/2021 11/29/21 Pending -- -- --
07/06/2021 07/06/21 For Sale $50,000 -- $81 / Sq Ft
Source: State-Wide MLS

Source: State-Wide MLS

MLS Number: 1400253

State-Wide MLS

APN: WARW-000305-000058-009648

Rhode Island Kent County Warwick 02888 Palace Garden

48 Lane 2, Warwick, RI

For Sale

Detached

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Listing Agent
Kara Guerette
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RE/MAX Professionals
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