Triplex Investment
420 Orms Street Providence, RI 02908
For Sale
$850,000
Pending
MULTI_FAMILY - Providence, RI
Property Size3,342 SF
Lot Size0.09 Acres
Days on Market83
Property Features for 420 Orms Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Triplex
- Bedrooms
- 12
- Bathrooms
- 4
- Rooms
- Bedroom 9, Bedroom 10, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 6, Bedroom 5, Bedroom 4, Bedroom 12, Bedroom 11, Basement, Bedroom 1
- Parking
- 7
- Parking features
- None
- Interior features
- Wall (Dry Wall), Plumbing (Mixed)
- Fireplace
- 1
- Basement
- Finished, Full
- Appliances
- Electric Water Heater
- Standard status
- Pending
- Size
- 3,342 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4649
Utilities
- Heating system
- Baseboard, Electric (Heating)
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 4
- Number of units
- 3
- Flooring type
- Hardwood
- Building materials
- Dry Wall, Vinyl Siding
Listing Agency:
Realpro By The Water
(401) 600-4100
Listed By:
The Realpro Group
(401) 400-2019
Added: May 6
Changed: Jul 23
Last Checked: Jul 27 at 5:06AM
MLS# 1411856
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.
420 Orms Street is a triplex property offered for sale in Providence, RI. The property is listed with zoning designated as Triplex and has a total property size of 3,342 square feet. The listing notes that the lot is not included in the sale.
According to the public remarks, the property is minutes from Providence College and downtown Providence, with easy access to Interstate 95. It is described as being surrounded by local conveniences, shops, and amenities.
This is a residential income property structured as a three-unit building, presented as a cash-flowing investment opportunity.
According to the public remarks, the property is minutes from Providence College and downtown Providence, with easy access to Interstate 95. It is described as being surrounded by local conveniences, shops, and amenities.
This is a residential income property structured as a three-unit building, presented as a cash-flowing investment opportunity.
Key Highlights
- Cash‑flowing investment property at 420 Orms Street in Providence
- Year built 1900 with hardwood flooring and dry wall construction
- Multiple bedrooms and bathrooms (Bedroom 1–12 and Bathroom 1–4) plus a basement
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 | $86.2k | $25.80 |
| − Vacancy | −$5.6k | −$1.68 |
| EGI | $80.6k | $24.12 |
| − OpEx | −$24.2k | −$7.24 |
| NOI | $56.4k | $16.89 |
3,342 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$806.2K
$705.4K – $940.6K
NOI $56,433 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$724.1K
$633.6K – $844.8K
NOI $50,690 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.12M
$978.3K – $1.30M
NOI $78,266 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Cash-flowing triplex with zoning designated as a triplex; note that the lot is not included in the sale.
Where is this triplex located?
The property is located at 420 Orms Street Providence, RI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Cash‑flowing investment property at 420 Orms Street in Providence; Year built 1900 with hardwood flooring and dry wall construction; Multiple bedrooms and bathrooms (Bedroom 1–12 and Bathroom 1–4) plus a basement
