Two-Unit Duplex with New
For Sale
$499,000
2 Young Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size2,750 SF
Lot Size0.06 Acres
Price / SF$181.45
Days on Market62
Property Features for 2 Young Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Basement, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4
Parking
3
Parking features
None
Basement
Unfinished, Full
Appliances
Gas Water Heater
Standard status
Active
Size
2,750 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6112
Utilities
Heating system
Natural Gas, Baseboard, Electric (Heating)
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: Jun 26
Changed: Aug 24
Last Checked: Aug 26 at 5:06AM
MLS# 1416419
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 two-unit duplex at 2 Young Avenue in Providence includes a 2-bedroom, 1-bath unit and a second unit with 4 bedrooms and 2 baths. The property contains 2,750 square feet of building area on a 0.06-acre lot, with a basement included in the room configuration. Vinyl siding, a gas water heater, and baseboard heating supported by natural gas and electric service are among the reported improvements. A new roof was installed in 2024.
Built in 1900, the property is located in Providence, RI 02908. Parking is not provided on site. The unit mix offers distinct layouts, including a larger six-room bedroom and bath configuration in the second unit, while the first provides a more compact arrangement.
Built in 1900, the property is located in Providence, RI 02908. Parking is not provided on site. The unit mix offers distinct layouts, including a larger six-room bedroom and bath configuration in the second unit, while the first provides a more compact arrangement.
Key Highlights
- 2‑unit duplex with 2‑bedroom/1‑bath and 4‑bedroom/2‑bath layouts
- New roof installed in 2024
- 2,750 square feet on a 0.06‑acre lot
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
$41,711
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
8.36%
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%
$834,220
$834.2K
Cap Rate 7%
$595,871
$595.9K
Cap Rate 9%
$463,456
$463.5K
Market Conditions
NOI Build-Up for 2,750 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
$80.9K $29.40/SF
− Vacancy
−$5.0K −$1.82/SF
EGI
$75.8K $27.58/SF
− OpEx
−$34.1K −$12.41/SF
NOI
$41.7K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /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%
$834,220
Cap Rate 7%
$595,871
Cap Rate 9%
$463,456
Alternative Uses
Best Use
Multifamily LT 5
$663.4K
$580.5K – $774.0K
NOI $46,437 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$595.9K
$521.4K – $695.2K
NOI $41,711 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$920.0K
$805.0K – $1.07M
NOI $64,402 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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-unit residential property with varied bedroom layouts, a basement, and updated roofing completed in 2024.
Where is this duplex located?
The property is located at 2 Young Avenue Providence, RI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2‑unit duplex with 2‑bedroom/1‑bath and 4‑bedroom/2‑bath layouts; New roof installed in 2024; 2,750 square feet on a 0.06‑acre lot
