Renovated Victorian
For Sale
$1,100,000
122 Camp Street, Providence, RI 02906
Residential Income, Providence, RI
Property Size3,119 SF
Lot Size0.13 Acres
Price / SF$352.68
Days on Market84
Property Features for 122 Camp Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Basement, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 2
Parking
6
Parking features
None
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Attic, Stairs, Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown)
Exterior features
Porch
Basement
Storage Space, Full, Partially Finished
Appliances
Gas Water Heater, Dishwasher, Dryer, Range Hood, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
Mt. Hope
Lot features
Corner Lot, Paved Driveway
Standard status
Active
Size
3,119 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9375
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s)
Amenities
off-street parking
picnic area
Building Details
Year built
1880
Floors in Building
3
Number of units
3
Flooring type
Pine, Marble
Building materials
Masonry, Vinyl Siding
Listing Agency:
Www.Homezu.Com
(877) 249-5478
Listed By:
Jason Saphire · License #0818954
(877) 249-5478
Added: Jun 9
Changed: Aug 27
Last Checked: Aug 31 at 5:06AM
MLS# 1414953
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 3,119-square-foot Victorian triplex, built in 1880, combines period character with substantial residential improvements. The first- and second-floor two-bedroom apartments feature bay windows, original pine floors, granite bathroom flooring, oversized eat-in kitchens, and professional furnishings. The third-floor one-bedroom penthouse offers an open layout, oversized kitchen, breakfast nook, and full bathroom with two windows.
Property improvements include a newer roof, replacement windows, three new or newer gas boilers and hot water heaters, hard-wired smoke detectors, 90-minute fire-rated doors, and an electrical panel serving each unit. The building also includes a full walk-out basement, porch, public sewer service, natural-gas baseboard heat, and window-unit cooling. Situated on a 0.1279-acre corner lot in Providence, the property is zoned R-3 and includes a secluded picnic area beneath a mature tree. The two lower apartments are currently used as Airbnbs.
Property improvements include a newer roof, replacement windows, three new or newer gas boilers and hot water heaters, hard-wired smoke detectors, 90-minute fire-rated doors, and an electrical panel serving each unit. The building also includes a full walk-out basement, porch, public sewer service, natural-gas baseboard heat, and window-unit cooling. Situated on a 0.1279-acre corner lot in Providence, the property is zoned R-3 and includes a secluded picnic area beneath a mature tree. The two lower apartments are currently used as Airbnbs.
Key Highlights
- 3,119 square feet across a 3‑family Victorian property
- 0.1279‑acre corner lot in Providence
- R‑3 zoning
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
$52,668
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
4.79%
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%
$1,053,360
$1.1M
Cap Rate 7%
$752,400
$752.4K
Cap Rate 9%
$585,200
$585.2K
Market Conditions
NOI Build-Up for 3,119 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
$80.5K $25.80/SF
− Vacancy
−$5.2K −$1.68/SF
EGI
$75.2K $24.12/SF
− OpEx
−$22.6K −$7.24/SF
NOI
$52.7K $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%
$1,053,360
Cap Rate 7%
$752,400
Cap Rate 9%
$585,200
Alternative Uses
Best Use
Multifamily LT 5
$752.4K
$658.4K – $877.8K
NOI $52,668 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$675.8K
$591.3K – $788.5K
NOI $47,307 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.04M
$913.0K – $1.22M
NOI $73,043 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,377
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated three-unit residence with furnished apartments, original pine flooring, and separate mechanical systems.
Where is this triplex located?
The property is located at 122 Camp Street Providence, RI.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 3,119 square feet across a 3‑family Victorian property; 0.1279‑acre corner lot in Providence; R‑3 zoning
