Updated Two-Family
For Sale
$474,900
104 Fairview Avenue, Pawtucket, RI 02860
Residential Income, Pawtucket, RI
Property Size2,915 SF
Lot Size0.12 Acres
Price / SF$162.92
Days on Market41
Property Features for 104 Fairview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Basement
Parking
1
Interior features
Wall (Paneled), Wall (Plaster), Attic Stairs, Insulation (Ceiling), Insulation (Walls)
Basement
Full, Unfinished, Storage Space
Appliances
Gas Water Heater, Dryer, Oven/Range, Refrigerator
Subdivision
Fairlawn
Standard status
Active
Size
2,915 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4546
Utilities
Heating system
Natural Gas
Amenities
fenced backyard
bluestone patio
basement laundry
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Vinyl
Building materials
Paneled, Plaster, Shingles
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
My Greene Team · License #50906
(401) 495-4663
Added: Jul 28
Changed: Sep 2
Last Checked: Sep 6 at 7:06AM
MLS# 1419065
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 2,915-square-foot duplex, built in 1930, contains two vacant residential units with separate utilities and a dedicated house meter. The first-floor apartment includes an updated kitchen and bath, hardwood flooring, and an eat-in kitchen. Both units provide functional living areas with natural light. A basement adds separate laundry areas, storage, workshop space, and direct access to the attached garage.
Capital improvements include exterior clapboard siding installed in 2015, a house roof replaced in 2024, a garage roof replaced in 2025, updated electrical service, a private water main replacement, and newer water heaters. The 0.12-acre parcel also includes a fenced backyard with a bluestone patio. The property is near shopping, restaurants, schools, public transportation, and major highways in Pawtucket, RI.
Capital improvements include exterior clapboard siding installed in 2015, a house roof replaced in 2024, a garage roof replaced in 2025, updated electrical service, a private water main replacement, and newer water heaters. The 0.12-acre parcel also includes a fenced backyard with a bluestone patio. The property is near shopping, restaurants, schools, public transportation, and major highways in Pawtucket, RI.
Key Highlights
- Two‑unit duplex with both apartments vacant and available for occupancy
- 2,915 square feet on a 0.12‑acre parcel
- House roof replaced in 2024; garage roof replaced in 2025
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
$38,520
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
8.11%
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%
$770,400
$770.4K
Cap Rate 7%
$550,286
$550.3K
Cap Rate 9%
$428,000
$428.0K
Market Conditions
NOI Build-Up for 2,915 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
$74.5K $25.56/SF
− Vacancy
−$4.5K −$1.53/SF
EGI
$70.0K $24.03/SF
− OpEx
−$31.5K −$10.81/SF
NOI
$38.5K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
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%
$770,400
Cap Rate 7%
$550,286
Cap Rate 9%
$428,000
Alternative Uses
Best Use
Multifamily LT 5
$693.4K
$606.7K – $808.9K
NOI $48,536 @ 7.0% cap · market cap 10.22%
Second Best
Apartment 5plus
$550.3K
$481.5K – $642.0K
NOI $38,520 @ 7.0% cap · market cap 8.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
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 - Vacant two-unit property with separate utilities, attached garage, and fenced backyard.
Where is this duplex located?
The property is located at 104 Fairview Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two‑unit duplex with both apartments vacant and available for occupancy; 2,915 square feet on a 0.12‑acre parcel; House roof replaced in 2024; garage roof replaced in 2025
