28 Park Ave, Wakefield, RI, 02879
About This Home
INVESTORS TAKE NOTE. The opportunity is a 10,168 sqft, 15+/- unit, Victorian home on a double, sub-dividable lot. 28 Park Ave is located in the desirable Matunuck neighborhood and just a short walk from amazing local beaches, surf, and restaurants. The additional building lot creates a rare opportunity for expansion or new construction. With strong rental demand driven by proximity to local beaches, downtown Wakefield, the University of Rhode Island, shopping, dining, and major commuter routes, this asset is well-positioned for long-term growth. This property is in need of some renovation to a number of the units to maximize your return while a number of them are ready for rent. Buyers to do their own diligence of potential uses and subdivision. Put your mark on this iconic Rhode Island town and property before someone else does!
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1903
Materials
- Foundation: Concrete Perimeter,Mixed
- Construction materials: Dry Wall,Plaster,Aluminum Siding,Shingles
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Laundry features: Common Area
Basement
- Has basement: Yes
- Basement: Full,Bulkhead,Unfinished
Bedrooms & Bathrooms
- Bedrooms: 16
- Bathrooms: 12
- Full bathrooms: 12
Features
- Wall (Dry Wall),Wall (Plaster),Plumbing (Mixed),Insulation (Unknown)
- Flooring: Hardwood
- Fireplace features: None
Heating & Cooling
- Heating features: Oil,Baseboard,Zoned
- Cooling features: None
Interior Area
- Total structure area: 10,168
- Total interior livable area: 10,168 sqft
Property
Details
- Attached to another structure: Yes
- Foundation area: 2660
Features
- Stories: 4
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
- Waterfront features: Walk to Salt Water
Lot
- Lot size: 0.77 Acres
Parking
- Total spaces: 16
- Parking features: No Garage
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Inland Flooding
- Hurricane
- Ice Storm
- Lightning
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Rhode Island Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $8,848 | $106,176 |
| Home Insurance * | $661 | $7,932 |
| Property Taxes | $1,327 | $15,924 |
| Electricity | $2,070 | $24,849 |
| Total | $12,906 | $154,872 |
Income You'd Need if You Spent...
Rhode Island FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-16 | Listed for sale | $1,749,900 |
| 2025-08-29 | Listing removed | $1,900,000 |
| 2025-08-26 | Listed for sale | $1,900,000 |
| 2025-07-04 | Contingent | $1,900,000 |
| 2025-06-23 | Price change | $1,900,000 |
| 2025-03-10 | Listed for sale | $2,200,000 |
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