Renovated Duplex with Hardwood
For Sale
$539,900
Pending
1111 Charles Street, North Providence, RI 02904
Residential Income, North Providence, RI
Property Size3,340 SF
Lot Size0.16 Acres
Days on Market36
Property Features for 1111 Charles Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking
4
Parking features
None
Interior features
Insulation (Unknown)
Basement
Full, Unfinished
Appliances
Electric Water Heater
Standard status
Pending
Size
3,340 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5334
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
1947
Number of units
2
Flooring type
Laminate, Tile - Ceramic
Building materials
Brick, Vinyl Siding
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Kenneth Scotti · License #13099
(401) 354-4971
Added: Jul 22
Changed: Aug 20
Last Checked: Aug 26 at 7:06AM
MLS# 1418544
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.
Built in 1947, this duplex contains 3,340 square feet on a 0.1644-acre lot. The first residence includes a living room, two bedrooms, a kitchen, and storage, while the upper residence provides a kitchen, dining area, and three bedrooms. Hardwood flooring and bright living areas serve both units, with ceramic tile and laminate also included among the interior finishes.
Recent interior work includes renovated kitchens and bathrooms, granite countertops, stainless steel appliances, and fresh paint across the first and second floors. The property is equipped with a natural gas baseboard heating system and an electric water heater. Its North Providence location offers access to major routes, highways, shopping, dining, and everyday amenities.
Recent interior work includes renovated kitchens and bathrooms, granite countertops, stainless steel appliances, and fresh paint across the first and second floors. The property is equipped with a natural gas baseboard heating system and an electric water heater. Its North Providence location offers access to major routes, highways, shopping, dining, and everyday amenities.
Key Highlights
- 3,340‑square‑foot duplex on a 0.1644‑acre lot
- Two‑unit layout with two bedrooms downstairs and three bedrooms upstairs
- Renovated kitchens and bathrooms with granite countertops and stainless steel appliances
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
$44,136
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
8.17%
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%
$882,720
$882.7K
Cap Rate 7%
$630,514
$630.5K
Cap Rate 9%
$490,400
$490.4K
Market Conditions
NOI Build-Up for 3,340 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
$85.4K $25.56/SF
− Vacancy
−$5.1K −$1.53/SF
EGI
$80.2K $24.03/SF
− OpEx
−$36.1K −$10.81/SF
NOI
$44.1K $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%
$882,720
Cap Rate 7%
$630,514
Cap Rate 9%
$490,400
Alternative Uses
Best Use
Multifamily LT 5
$794.5K
$695.2K – $926.9K
NOI $55,613 @ 7.0% cap · market cap 10.30%
Second Best
Apartment 5plus
$630.5K
$551.7K – $735.6K
NOI $44,136 @ 7.0% cap · market cap 8.17%
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
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
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-unit property with refreshed kitchens, updated baths, and separate living arrangements in a convenient North Providence setting.
Where is this duplex located?
The property is located at 1111 Charles Street North Providence, RI.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 3,340‑square‑foot duplex on a 0.1644‑acre lot; Two‑unit layout with two bedrooms downstairs and three bedrooms upstairs; Renovated kitchens and bathrooms with granite countertops and stainless steel appliances
