Providence Two-Family Corner Lot
31 Newbury Street Providence, RI 02904
31 Newbury Street, Providence, RI, 02904
$659,900
For Sale
Under Contract
$659,900
MULTI_FAMILY - Providence, RI
Property Size3,978 SF
Lot Size0.09 Acres
Price / SF$165.89
Days on Market98
Property Features for 31 Newbury Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Basement, Bathroom 2, Bedroom 5, Bedroom 2
- Parking
- 3
- Parking features
- None
- Patio and Porch features
- Deck
- Interior features
- Plumbing (Mixed)
- Exterior features
- Deck
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
- Standard status
- Active Under Contract
- Size
- 3,978 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5336
Utilities
- Heating system
- Natural Gas, Baseboard, Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1948
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Tile - Ceramic, Laminate
- Building materials
- Vinyl Siding
Listing agency
Here Realty
(401) 862-1251
Listed by
Steven London
(401) 649-2358
Added: Apr 17 Updated: Jul 16 at 3:23PM Checked: Jul 23 at 9:06AM
MLS# 1410365
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.
Located on a corner lot, this two-family property at 31 Newbury Street in Providence, Rhode Island, features a first-floor unit with a 2-bed, 1-bath layout. The second floor offers a more spacious 3-bed, 1-bath layout. Residents of the upstairs unit can enjoy water views and abundant natural light through large windows. The property, with a total size of 3978 square feet on a 0.09-acre lot, includes landscaping and a back porch. The second-floor unit features an open-concept kitchen with an island and refined fixtures. Spacious parking is available in this quiet neighborhood, offering privacy and convenience. This property is suitable for both living and investment purposes.
Key Highlights
- Two‑family home on a corner lot with a 2‑bed, 1‑bath first floor and a 3‑bed, 1‑bath second floor
- Large windows and natural sunlight throughout; water views from the upstairs
- Second‑floor open‑concept kitchen with an island
Local Financial Insights For Apartment 5plus
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 | $117.0k | $29.40 |
| − Vacancy | −$7.3k | −$1.82 |
| EGI | $109.7k | $27.58 |
| − OpEx | −$49.4k | −$12.41 |
| NOI | $60.3k | $15.17 |
3,978 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$959.6K
$839.7K – $1.12M
NOI $67,173 @ 7.0% cap · market cap 10.18%
Second Best
Apartment 5plus
$861.9K
$754.2K – $1.01M
NOI $60,336 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,160 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family home in Providence with water views and ample parking.
Where is this duplex located?
The property is located at 31 Newbury Street Providence, RI.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Two‑family home on a corner lot with a 2‑bed, 1‑bath first floor and a 3‑bed, 1‑bath second floor; Large windows and natural sunlight throughout; water views from the upstairs; Second‑floor open‑concept kitchen with an island
