Updated Two-Unit Duplex
For Sale
$549,900
346 Douglas Avenue, Providence, RI 02908
MULTI_FAMILY - Providence, RI
Property Size1,704 SF
Lot Size0.05 Acres
Price / SF$322.71
Days on Market32
Property Features for 346 Douglas Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2, Basement
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed)
Basement
Unfinished, Full
Appliances
Gas Water Heater
Standard status
Active
Size
1,704 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4921
Utilities
Heating system
Baseboard, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Laminate
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
David Zuller
(401) 447-8988
Added: Jul 7
Changed: Aug 1
Last Checked: Aug 7 at 10:06PM
MLS# 1417142
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 well-maintained two-family duplex offers a flexible setup for both investors and owner-occupants. The property is a two-family home with two units, and each unit features two bedrooms and one full bathroom. Interiors have been tastefully updated with modern kitchens and refreshed bathrooms. Plumbing is described as mixed, with dry wall construction materials noted.
Exterior improvements include maintenance-free vinyl siding, and the roof is only six years old. The home includes a gas water heater, natural gas baseboard heating, and window unit cooling. The floor plan also includes a basement, with dry wall and mixed plumbing called out among the interior features.
Seller is willing to deliver one unit vacant at closing, creating an immediate move-in option for one side while generating rental income from the other unit. The property sits on a 0.05-acre lot and has a total size of 1,704 square feet. Parking is listed as none, and the home was built in 1900.
Exterior improvements include maintenance-free vinyl siding, and the roof is only six years old. The home includes a gas water heater, natural gas baseboard heating, and window unit cooling. The floor plan also includes a basement, with dry wall and mixed plumbing called out among the interior features.
Seller is willing to deliver one unit vacant at closing, creating an immediate move-in option for one side while generating rental income from the other unit. The property sits on a 0.05-acre lot and has a total size of 1,704 square feet. Parking is listed as none, and the home was built in 1900.
Key Highlights
- Two‑unit duplex; each unit has 2 bedrooms and 1 full bathroom
- Vinyl siding and a roof only six years old
- Seller will deliver one unit vacant at closing
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
$28,774
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
5.23%
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%
$575,480
$575.5K
Cap Rate 7%
$411,057
$411.1K
Cap Rate 9%
$319,711
$319.7K
Market Conditions
NOI Build-Up for 1,704 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
$44.0K $25.80/SF
− Vacancy
−$2.9K −$1.68/SF
EGI
$41.1K $24.12/SF
− OpEx
−$12.3K −$7.24/SF
NOI
$28.8K $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 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%
$575,480
Cap Rate 7%
$411,057
Cap Rate 9%
$319,711
Alternative Uses
Best Use
Multifamily LT 5
$411.1K
$359.7K – $479.6K
NOI $28,774 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$369.2K
$323.1K – $430.8K
NOI $25,845 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$570.1K
$498.8K – $665.1K
NOI $39,906 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,631
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 - Well-maintained two-family duplex with updated interiors and exterior improvements including vinyl siding and a roof about six years old.
Where is this duplex located?
The property is located at 346 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit duplex; each unit has 2 bedrooms and 1 full bathroom; Vinyl siding and a roof only six years old; Seller will deliver one unit vacant at closing
