171 Ocean Street Providence, RI 02905
MULTI_FAMILY - Providence, RI
- Added:
- Jun 29, 2026
- Days on Market:
- 13
- Last Refresh:
- Jul 11 at 4:06 pm
Property Features for 171 Ocean Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 4, Bathroom 4, Basement, Bathroom 3, Bedroom 1, Bedroom 8, Bedroom 7, Bedroom 3, Bathroom 1, Bedroom 5
- Parking
- 2
- Parking features
- None
- Patio and Porch features
- Porch
- Interior features
- Stairs, Plumbing (Mixed)
- Exterior features
- Porch
- Basement
- Full, Unfinished
- Appliances
- Electric Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 3,300 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2025
Utilities
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 2026
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood, Tile - Ceramic
- Building materials
- Vinyl Siding
Listing agent The InnoVenture Team (508) 726-3492
Listing office Century 21 Visionary Group 969 Waterman Avenue, Suite 3, East Providence, RI (401) 380-6020
Listing date Jun 29, 2026
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.
The asset is located at 171 Ocean Street in Providence, Rhode Island. The listing is positioned as move-in ready, with a lot size of approximately 0.08 acres and a total building size of about 3,300 square feet.
This configuration can fit owner-occupants who want to live in one unit and rent the other, as well as investors seeking a turn-key, newly built multifamily structure. With updated systems, modern kitchen and bath finishes, and a large basement area that can be adapted for additional living space, the property may be well suited for tenants looking for contemporary, comfortable units.
Key Highlights
- Brand new two‑family home built in 2026 with 4 bedrooms and 2 full bathrooms per unit
- Each unit includes granite countertops and stainless steel appliances
- Spa‑like baths and central air with forced hot air heat throughout
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.1k | $25.80 |
| − Vacancy | −$5.5k | −$1.68 |
| EGI | $79.6k | $24.12 |
| − OpEx | −$23.9k | −$7.24 |
| NOI | $55.7k | $16.89 |
