Duplex With Separate
For Sale
$542,000
1 Hale Street, Providence, RI 02909
Residential Income, Providence, RI
Property Size2,893 SF
Lot Size0.05 Acres
Price / SF$187.35
Days on Market115
Property Features for 1 Hale Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Basement, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3
Parking
4
Parking features
None
Patio and Porch features
Patio
Interior features
Stairs, Plumbing (Mixed)
Exterior features
Patio
Basement
Full, Finished
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Subdivision
Olneyville
Lot features
Extra Lot
Standard status
Active
Size
2,893 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3444
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Vinyl Siding
Listing Agency:
Century 21 Visionary Group · Century 21 Real Estate
(401) 380-6020
Listed By:
The InnoVenture Team
(401) 380-6020
Added: May 4
Changed: Aug 24
Last Checked: Aug 26 at 5:06AM
MLS# 1411758
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.
Investment Insights
Based on property information with market context.
This 2,893-square-foot duplex was built in 1910 and contains two residential units with five bedrooms and three bathrooms. Interior features include hardwood and ceramic tile flooring, mixed plumbing, a basement, natural-gas baseboard heating, and a gas water heater. A patio and vinyl siding add to the property’s existing improvements.
The offering also includes a separate 1,050-square-foot lot directly across the street. The lot is currently used for off-street parking and is described as buildable, subject to buyer due diligence. The parcel contains 0.05 acres. The property is located in Providence, RI, near local amenities and highways. A solar panel lease is to convey to the buyer.
The offering also includes a separate 1,050-square-foot lot directly across the street. The lot is currently used for off-street parking and is described as buildable, subject to buyer due diligence. The parcel contains 0.05 acres. The property is located in Providence, RI, near local amenities and highways. A solar panel lease is to convey to the buyer.
Key Highlights
- 2,893‑square‑foot duplex built in 1910
- Two‑family layout with 5 bedrooms and 3 bathrooms
- Separate 1,050‑square‑foot lot directly across the street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,851
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$977,020
$977.0K
Cap Rate 7%
$697,871
$697.9K
Cap Rate 9%
$542,789
$542.8K
Market Conditions
NOI Build-Up for 2,893 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$74.6K $25.80/SF
− Vacancy
−$4.9K −$1.68/SF
EGI
$69.8K $24.12/SF
− OpEx
−$20.9K −$7.24/SF
NOI
$48.9K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$977,020
Cap Rate 7%
$697,871
Cap Rate 9%
$542,789
Alternative Uses
Best Use
Multifamily LT 5
$697.9K
$610.6K – $814.2K
NOI $48,851 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$626.8K
$548.5K – $731.3K
NOI $43,879 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$967.9K
$846.9K – $1.13M
NOI $67,751 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with a separately situated lot currently used for off-street parking.
Where is this duplex located?
The property is located at 1 Hale Street Providence, RI.
What is the asking price?
The asking price for this property is $542,000.
What are key features of this property?
This property features: 2,893‑square‑foot duplex built in 1910; Two‑family layout with 5 bedrooms and 3 bathrooms; Separate 1,050‑square‑foot lot directly across the street
