Duplex With Detached Two-Car
For Sale
$549,900
Pending
117 Orchard Street, East Providence, RI 02914
Residential Income, East Providence, RI
Property Size3,236 SF
Lot Size0.11 Acres
Days on Market50
Property Features for 117 Orchard Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3, Basement, Bathroom 2
Parking
4
Interior features
Wall (Plaster), Plumbing (Mixed)
Basement
Unfinished, Full, Storage Space
Accessibility
Accessible Elevator Installed
Appliances
Gas Water Heater, Dryer, Exhaust Fan, Refrigerator, Washer
Lot features
Corner Lot
Standard status
Pending
Size
3,236 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6541
Utilities
Heating system
Baseboard, Natural Gas
Cooling system
Central Air
Amenities
central air conditioning
high-efficiency Navien combi boiler
hardwood floors
wheelchair lift
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Hardwood
Building materials
Plaster, Aluminum Siding
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
Victor Correia · License #RES.0045475
(401) 339-0355
Added: Jul 30
Changed: Sep 15
Last Checked: Sep 17 at 4:06AM
MLS# 1418660
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 1930 duplex contains 3,236 square feet across two residential units, with hardwood and vinyl flooring, plaster walls, central air conditioning, and natural-gas baseboard heat. Each unit has separate utilities, while the first-floor residence includes a Navien combi boiler providing heating and on-demand hot water. A wheelchair lift adds accessibility, and the basement provides additional storage. Appliances include refrigerators, washers, dryers, exhaust fans, and gas water heaters.
The property occupies a 0.1148-acre corner lot at 117 Orchard Street in East Providence, with a detached two-car garage and off-street parking. Shopping, restaurants, schools, parks, public transportation, and major highways are described as being minutes away. The configuration supports use as a two-unit residential income property, with potential for an owner-occupant arrangement or continued rental use.
The property occupies a 0.1148-acre corner lot at 117 Orchard Street in East Providence, with a detached two-car garage and off-street parking. Shopping, restaurants, schools, parks, public transportation, and major highways are described as being minutes away. The configuration supports use as a two-unit residential income property, with potential for an owner-occupant arrangement or continued rental use.
Key Highlights
- 3,236‑square‑foot duplex with two residential units
- Separate utilities, central air conditioning, and natural‑gas baseboard heat in each unit
- Detached two‑car garage plus off‑street parking on a 0.1148‑acre corner lot
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
$42,762
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
7.78%
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%
$855,240
$855.2K
Cap Rate 7%
$610,886
$610.9K
Cap Rate 9%
$475,133
$475.1K
Market Conditions
NOI Build-Up for 3,236 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
$82.7K $25.56/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$77.7K $24.03/SF
− OpEx
−$35.0K −$10.81/SF
NOI
$42.8K $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%
$855,240
Cap Rate 7%
$610,886
Cap Rate 9%
$475,133
Alternative Uses
Best Use
Multifamily LT 5
$769.7K
$673.5K – $898.0K
NOI $53,881 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$610.9K
$534.5K – $712.7K
NOI $42,762 @ 7.0% cap · market cap 7.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate utilities, central air, gas heat, and off-street parking on a corner lot.
Where is this duplex located?
The property is located at 117 Orchard Street East Providence, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 3,236‑square‑foot duplex with two residential units; Separate utilities, central air conditioning, and natural‑gas baseboard heat in each unit; Detached two‑car garage plus off‑street parking on a 0.1148‑acre corner lot
