Multi-Family Home with
For Sale
$575,000
16 Brown St, North Providence, RI 02904
MULTI_FAMILY - North Providence, RI
Property Size3,824 SF
Lot Size0.15 Acres
Price / SF$150.37
Days on Market134
Property Features for 16 Brown St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 3, Laundry Room, Bedroom 1, Bedroom 5, Bedroom 3
Patio and Porch features
Deck
Pool private
1
Interior features
Entrance Foyer, Master Downstairs
High school district
000000
Standard status
Active
Size
3,824 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6903
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Flooring type
Laminate, Hardwood, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
REMAX Preferred
(401) 353-2200
Listed By:
Tony Lanni · License #REB.0018844
(800) 536-0171
Added: Apr 23
Changed: Aug 4
Last Checked: Sep 3 at 4:06PM
MLS# 11728944
Copyright © 2026 My State MLS. 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 for-sale multi-family residence offers approximately 3,824 square feet of smart, flexible living space arranged for distinct living zones. The home includes five or six bedrooms, three full bathrooms, and a fully finished basement that provides an additional level for everyday use or overflow space. A bonus sunroom adds extra room for light-filled, year-round enjoyment, while the outdoor setup includes a patio with decking, a fully fenced yard, and an above-ground pool.
Located in North Providence, RI, the address is 16 Brown St (02904). The property is described as minutes from major routes including Rt. 95, 146, and I-295, along with nearby shopping, dining, and schools, offering straightforward regional connectivity.
The layout is well-suited for buyers seeking a home that can accommodate multi-generational living, in-law arrangements, or multiple households under one roof. With multiple bedrooms and full baths plus a finished basement, the property supports practical separation of living areas while keeping everything under one ownership. The listing also notes updates throughout and 200 AMP service.
Located in North Providence, RI, the address is 16 Brown St (02904). The property is described as minutes from major routes including Rt. 95, 146, and I-295, along with nearby shopping, dining, and schools, offering straightforward regional connectivity.
The layout is well-suited for buyers seeking a home that can accommodate multi-generational living, in-law arrangements, or multiple households under one roof. With multiple bedrooms and full baths plus a finished basement, the property supports practical separation of living areas while keeping everything under one ownership. The listing also notes updates throughout and 200 AMP service.
Key Highlights
- Nearly 4,000 sq ft home with 5/6 bedrooms and 3 full bathrooms
- Master downstairs and entrance foyer
- Fully finished basement plus bonus sunroom
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
$50,532
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
8.79%
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%
$1,010,640
$1.0M
Cap Rate 7%
$721,886
$721.9K
Cap Rate 9%
$561,467
$561.5K
Market Conditions
NOI Build-Up for 3,824 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
$97.7K $25.56/SF
− Vacancy
−$5.9K −$1.53/SF
EGI
$91.9K $24.03/SF
− OpEx
−$41.3K −$10.81/SF
NOI
$50.5K $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%
$1,010,640
Cap Rate 7%
$721,886
Cap Rate 9%
$561,467
Alternative Uses
Best Use
Apartment 5plus
$721.9K
$631.7K – $842.2K
NOI $50,532 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$909.6K
$795.9K – $1.06M
NOI $63,671 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
716
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Versatile single structure with multiple bedrooms, three full baths, and finished basement for flexible household arrangements.
Where is this single family property located?
The property is located at 16 Brown St North Providence, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Nearly 4,000 sq ft home with 5/6 bedrooms and 3 full bathrooms; Master downstairs and entrance foyer; Fully finished basement plus bonus sunroom
