Duplex with Renovation
New
For Sale
$375,000
Pending
18 Stone Street, Providence, RI 02904
Residential Income, Providence, RI
Property Size1,437 SF
Lot Size0.09 Acres
Days on Market6
Property Features for 18 Stone Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R3
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Rough Bath, Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Unfinished
Appliances
Electric Water Heater
Subdivision
Charles
Lot features
Fenced
Standard status
Pending
Size
1,437 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4799
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Vinyl, Tile - Ceramic, Laminate
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Re/Max River's Edge · RE/MAX International
(401) 245-2000
Listed By:
David Silva · License #RES.0044604
(401) 640-3309
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 5 at 10:06PM
MLS# 1424794
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 1,437-square-foot duplex, built in 1890, contains two apartments on a 0.0918-acre lot. The first-floor unit has one bedroom and is ready for use. The second unit spans the second and third floors, with one bedroom and one bathroom on the second floor and three bedrooms and one bathroom above. Both levels of the upper unit require full renovation. The property is being sold as-is, and the listing notes that the sale is subject to court approval.
R3 zoning applies. Building features include vinyl siding, hardwood, vinyl, ceramic tile and laminate flooring, natural-gas baseboard heat, and a public sewer connection. No parking is listed.
R3 zoning applies. Building features include vinyl siding, hardwood, vinyl, ceramic tile and laminate flooring, natural-gas baseboard heat, and a public sewer connection. No parking is listed.
Key Highlights
- Two‑unit property with 1,437 square feet on a 0.0918‑acre lot
- First‑floor apartment has 1 bedroom and is ready for use
- Upper unit spans two floors and includes 4 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,265
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,300
$485.3K
Cap Rate 7%
$346,643
$346.6K
Cap Rate 9%
$269,611
$269.6K
Market Conditions
NOI Build-Up for 1,437 SF
Gross rent
$37.1K $25.80/SF
− Vacancy
−$2.4K −$1.68/SF
EGI
$34.7K $24.12/SF
− OpEx
−$10.4K −$7.24/SF
NOI
$24.3K $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 Rate 5%
$485,300
Cap Rate 7%
$346,643
Cap Rate 9%
$269,611
Alternative Uses
Best Use
Multifamily LT 5
$346.6K
$303.3K – $404.4K
NOI $24,265 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$311.4K
$272.5K – $363.3K
NOI $21,796 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$480.8K
$420.7K – $560.9K
NOI $33,653 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,089
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The first-floor apartment is ready for use, while the upper unit needs substantial renovation across two levels.
Where is this duplex located?
The property is located at 18 Stone Street Providence, RI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit property with 1,437 square feet on a 0.0918‑acre lot; First‑floor apartment has 1 bedroom and is ready for use; Upper unit spans two floors and includes 4 bedrooms and 2 bathrooms
