Victorian Duplex with
For Sale
$1,200,000
132 Jenkins Street, Providence, RI 02906
Residential Income, Providence, RI
Property Size2,593 SF
Lot Size0.15 Acres
Price / SF$462.78
Days on Market71
Property Features for 132 Jenkins Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Basement
Parking
7
Interior features
Attic, Stairs, Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown)
Basement
Storage Space, Full, Unfinished
Appliances
Electric Water Heater, Gas Water Heater, Dishwasher, Dryer, Oven/Range, Refrigerator
Subdivision
Mt. Hope
Lot features
Paved Driveway
Standard status
Active
Size
2,593 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1062
Utilities
Heating system
Natural Gas, Oil, Baseboard
Cooling system
Window Unit(s)
Water source
Public
Water front features
Waterfront
Water front
1
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Vinyl
Building materials
Clapboard, Wood
Listing Agency:
Www.Homezu.Com
(877) 249-5478
Listed By:
Jason Saphire · License #0818954
(877) 249-5478
Added: Jun 22
Changed: Aug 20
Last Checked: Aug 31 at 6:06AM
MLS# 1416084
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 2,593-square-foot duplex is a three-story Victorian residence built in 1900, with two 2-bedroom apartments on the first and second floors. Each apartment includes double parlors, bay windows, an eat-in kitchen, and a full bathroom. The property also offers an unfinished third floor, a full walk-out basement, a large private yard, and a three-car garage. Original oak flooring with cherry inlays, plaster crown molding, ceiling medallions, and a mahogany stairway add architectural character. Replacement windows serve all three floors, and both apartments have updated 100-amp electrical systems.
Heating is provided by oil on the first floor and gas baseboard on the second floor. The first-floor unit has a new oil tank and electric hot water heater, while the second-floor unit has a gas boiler and gas hot water heater. The property is fully rented to professionals under long-term leases. R-3 zoning applies, and the adjacent property is also available as part of a package transaction.
Heating is provided by oil on the first floor and gas baseboard on the second floor. The first-floor unit has a new oil tank and electric hot water heater, while the second-floor unit has a gas boiler and gas hot water heater. The property is fully rented to professionals under long-term leases. R-3 zoning applies, and the adjacent property is also available as part of a package transaction.
Key Highlights
- 2,593‑square‑foot duplex on a 0.1469‑acre lot
- Two 2‑bedroom apartments with double parlors, bay windows, eat‑in kitchens, and full bathrooms
- Unfinished third floor plus full walk‑out basement
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
$43,786
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
3.65%
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%
$875,720
$875.7K
Cap Rate 7%
$625,514
$625.5K
Cap Rate 9%
$486,511
$486.5K
Market Conditions
NOI Build-Up for 2,593 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
$66.9K $25.80/SF
− Vacancy
−$4.3K −$1.68/SF
EGI
$62.6K $24.12/SF
− OpEx
−$18.8K −$7.24/SF
NOI
$43.8K $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%
$875,720
Cap Rate 7%
$625,514
Cap Rate 9%
$486,511
Alternative Uses
Best Use
Multifamily LT 5
$625.5K
$547.3K – $729.8K
NOI $43,786 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$561.8K
$491.6K – $655.5K
NOI $39,329 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$867.5K
$759.1K – $1.01M
NOI $60,725 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
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?
Duplex - Two spacious apartments occupy a three-story Victorian residence with private outdoor space and separate heating systems.
Where is this duplex located?
The property is located at 132 Jenkins Street Providence, RI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,593‑square‑foot duplex on a 0.1469‑acre lot; Two 2‑bedroom apartments with double parlors, bay windows, eat‑in kitchens, and full bathrooms; Unfinished third floor plus full walk‑out basement
