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.
For sale
$123,000
48 Lane #2, Warwick, RI 02888
1beds
621sqft
Single Family Residence
Built in 1935
-- sqft lot
$121,800 Zestimate®
$198/sqft
$-- HOA
What's special
Great lot
- 24 days |
- 1,700 |
- 48 |
Zillow last checked:
Listing updated:
Listed by:
Kara Guerette 401-787-0970,
REMAX Revolution
Source: StateWide MLS RI,MLS#: 1413017
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
- Full bathrooms: 1
Heating
- Electric, None
Cooling
- None
Features
- Insulation (None)
- Flooring: Other
- Basement: Crawl Space,Bulkhead,Unfinished
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 621
- Total interior livable area: 621 sqft
- Finished area above ground: 621
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: No Garage
Features
- Waterfront features: Access, Beach, Walk to Salt Water, Walk To Water
Lot
- Features: Wooded
Details
- Parcel number: WARWM305B0058L9648
- On leased land: Yes
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Cottage
- Property subtype: Single Family Residence
Materials
- Foundation: Stone
Condition
- New construction: No
- Year built: 1935
Utilities & green energy
- Electric: None
- Sewer: In Fee
- Water: Public
- Utilities for property: Sewer Connected
Community & HOA
Community
- Subdivision: Gaspee Point
HOA
- Has HOA: No
Location
- Region: Warwick
Financial & listing details
- Price per square foot: $198/sqft
- Tax assessed value: $87,900
- Annual tax amount: $2,296
- Date on market: 5/19/2026
- 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.
Estimated market value
$121,800
$116,000 - $128,000
$1,871/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/19/2026 | Listed for sale | $123,000-5.4%$198/sqft |
Source:  StateWide MLS RI #1413017 Report a problem | ||
| 5/12/2026 | Listing removed | $130,000$209/sqft |
Source: StateWide MLS RI #1409098 Report a problem | ||
| 4/3/2026 | Listed for sale | $130,000$209/sqft |
Source: StateWide MLS RI #1409098 Report a problem | ||
| 4/2/2026 | Listing removed | $130,000$209/sqft |
Source: StateWide MLS RI #1406522 Report a problem | ||
| 3/13/2026 | Price change | $130,000-7.1%$209/sqft |
Source: StateWide MLS RI #1406522 Report a problem | ||
| 1/15/2026 | Price change | $140,000-3.4%$225/sqft |
Source: StateWide MLS RI #1400253 Report a problem | ||
| 11/15/2025 | Listed for sale | $145,000+190%$233/sqft |
Source: StateWide MLS RI #1400253 Report a problem | ||
| 12/29/2021 | Sold | $50,000$81/sqft |
Source: StateWide MLS RI #1287453 Report a problem | ||
| 7/28/2021 | Pending sale | $50,000$81/sqft |
Source: StateWide MLS RI #1287453 Report a problem | ||
| 7/7/2021 | Contingent | $50,000$81/sqft |
Source: StateWide MLS RI #1287453 Report a problem | ||
| 7/6/2021 | Listed for sale | $50,000$81/sqft |
Source: StateWide MLS RI #1287453 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,272 | $87,900 |
| 2024 | $1,272 +2% | $87,900 |
| 2023 | $1,247 +46.7% | $87,900 +93.6% |
| 2022 | $850 | $45,400 |
| 2021 | $850 | $45,400 |
| 2020 | $850 | $45,400 |
| 2019 | $850 -8% | $45,400 +2.3% |
| 2018 | $924 +2.8% | $44,400 |
| 2017 | $899 | $44,400 |
| 2016 | $899 +17.4% | $44,400 +20.3% |
| 2015 | $766 +3.5% | $36,900 |
| 2014 | $740 +1.4% | $36,900 |
| 2013 | $730 -14.2% | $36,900 -23.3% |
| 2011 | $851 +1.2% | $48,100 |
| 2010 | $841 -30.8% | $48,100 -44.1% |
| 2009 | $1,216 +5.5% | $86,000 |
| 2008 | $1,153 | $86,000 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 02888
Nearby schools
GreatSchools rating
- 6/10Holliman SchoolGrades: K-5Distance: 1.6 mi
- 5/10Warwick Veterans Jr. High SchoolGrades: 6-8Distance: 2.9 mi
- 7/10Pilgrim High SchoolGrades: 9-12Distance: 1.6 mi
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Rhode Island
- Kent County
- Warwick
- 02888
- 48 Lane Unit 2
Nearby cities
Nearby zip codes
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