$649,000

5 Shippen Ave Warwick, RI 02888

Palace Garden Neighborhood

Estimated payment $3,932/month

Total Views 242
4 Beds
2 Baths
4,149 Sq Ft
$156 Price per Sq Ft

Highlights

  • Wood Flooring
  • Window Unit Cooling System
  • Public Transportation
  • 2 Car Detached Garage
  • Bathtub with Shower
  • Baseboard Heating

About This Home

Welcome to this unique two-family home nestled in the highly sought-after Governor Francis neighborhood. This property presents a remarkable opportunity for either a homeowner looking to occupy one unit while generating income from the second, or for an investor to lease both residences. Each unit in this updated duplex has been thoughtfully designed to provide comfortable living spaces. Both units feature: an eat-in kitchen, a spacious bathroom, a flexible living area, a generously sized primary bedroom, and a comfortable secondary room. Situated on a corner lot, the property boasts a fully fenced-in yard, providing privacy and security. The convenience of a two-car garage adds significant value, offering off-street parking and additional storage solutions. Discover the potential of this incredible property. Call for a showing today!

Listing Agent

Thomas Flanders

Envious Properties LLC License #RES.0044048 Listed on: 01/05/2026

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,502

Year Built

  • Built in 1935

Lot Details

  • 10,019 Sq Ft Lot
  • Fenced

Parking

  • 2 Car Detached Garage

Home Design

  • Concrete Perimeter Foundation
  • Plaster

Interior Spaces

  • 4,149 Sq Ft Home
  • 2-Story Property
  • Storm Doors

Flooring

  • Wood
  • Carpet
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms
  • Bathtub with Shower

Unfinished Basement

  • Partial Basement
  • Interior and Exterior Basement Entry

Utilities

  • Window Unit Cooling System
  • Heating System Uses Gas
  • Baseboard Heating
  • 200+ Amp Service

Listing and Financial Details

  • Tax Lot 13
  • Assessor Parcel Number 5SHIPPENAVWARW

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • Governor Francis Subdivision

Additional Features

  • Public Transportation
  • Operating Expense $10,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,502

Year Built

Built in 1935

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.23
  • Subdivision Name: Governor Francis
  • Above Grade Finished Sq Ft: 4149.0
  • Garage Yn: Yes
  • New Construction: No
  • Year Built: 1935
  • Special Features: None

Interior Features

  • Number Of Buildings: 2
  • Has Basement: Exterior Entry, Interior Entry, Partial, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 4
  • Door Features: Storm Door(s)
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Carpet, Ceramic Tile, Hardwood, Vinyl
  • Interior Amenities: Bathtub, Interior Steps, Tub Shower
  • Stories: 2

Exterior Features

  • Fencing: Fenced
  • Construction Type: Drywall, Plaster
  • Foundation Details: Concrete Perimeter

Garage/Parking

  • Attached Garage: No
  • Covered Parking Spaces: 2.0
  • Garage Spaces: 2.0
  • Parking Features: Detached, Garage
  • Total Parking Spaces: 4.0

Utilities

  • Laundry Features: Common Area
  • Cooling: Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Baseboard, Gas
  • Heating Yn: Yes
  • Electric: 200+ Amp Service
  • Sewer: Connected, Public Sewer, Sewer Assessment(s)
  • Utilities: Sewer Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Highway Access, Near Schools, Public Transportation
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 10019.0
  • Parcel #: 5SHIPPENAVWARW

Rental Info

  • Tenant Pays: Hot Water

Multi Family

  • Number Of Units Total: 2
  • Annual Operating Expense: 10000.0

Tax Info

  • Tax Annual Amount: 6502.0
  • Tax Lot: 13
  • 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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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 $6,502 $512,000 $118,300 $393,700
2024 $5,923 $409,300 $102,800 $306,500
2023 $5,808 $409,300 $102,800 $306,500
2022 $5,411 $288,900 $68,200 $220,700
2021 $5,411 $288,900 $68,200 $220,700
2020 $5,411 $288,900 $68,200 $220,700
2019 $5,411 $288,900 $68,200 $220,700
2018 $4,430 $213,000 $68,200 $144,800
2017 $4,311 $213,000 $68,200 $144,800
2016 $4,311 $213,000 $68,200 $144,800
2015 $3,957 $190,700 $73,400 $117,300
2014 $3,825 $190,700 $73,400 $117,300
2013 $3,774 $190,700 $73,400 $117,300
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/05/2026 01/05/26 For Sale $649,000 +68.6% $156 / Sq Ft
07/10/2020 07/10/20 Sold $385,000 -6.1% $93 / Sq Ft View Prior Sale
06/10/2020 06/10/20 Pending -- -- --
05/01/2020 05/01/20 For Sale $409,900 -- $99 / Sq Ft
Source: State-Wide MLS

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- None Available
Warranty Deed $385,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $394,790 FHA
Previous Owner $378,026 FHA
Source: Public Records

Source: State-Wide MLS

MLS Number: 1402459

State-Wide MLS

APN: WARW-000307-000013-000000

Rhode Island Kent County Warwick 02888 Palace Garden

5 Shippen Ave, Warwick, RI

For Sale

MultiFamily

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Thomas Flanders
Listing Agent
Thomas Flanders
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Envious Properties LLC
(401) 371-3656