Remodeled Two-Family
46 Ponagansett Avenue Providence, RI 02909
46 Ponagansett Avenue, Providence, RI, 02909
$559,000
For Sale
$559,000
MULTI_FAMILY - Providence, RI
Property Size2,152 SF
Lot Size0.10 Acres
Price / SF$259.76
Days on Market8
Property Features for 46 Ponagansett Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 1, Basement, Bathroom 2, Bedroom 3, Bathroom 1
- Parking
- 4
- Parking features
- None
- Interior features
- Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Unknown)
- Basement
- Full, Unfinished, Storage Space
- Appliances
- Gas Water Heater, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 2,152 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5901
Utilities
- Heating system
- Natural Gas, Forced Air, Oil
Building Details
- Year built
- 1926
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood, Vinyl
- Building materials
- Dry Wall, Vinyl Siding
Listing agency
Keller Williams Leading Edge
(401) 333-4900
Listed by
Melanie Ruiz
(401) 333-4900
Added: Jul 15 Updated: Jul 18 at 5:17PM Checked: Jul 22 at 10:06PM
MLS# 1417793
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 remodeled two-family residence preserves original character while adding clean, modern updates. Both units feature 2 bedrooms, 1 full bath, and a spacious double parlor offering flexible living space. Interior finishes include refinished hardwood floors, brand-new kitchens and bathrooms, and fresh paint throughout. Exterior improvements include a brand-new roof and vinyl siding. Additional conveniences include separate utilities, two separate heating systems, off-street parking, and a private backyard.
Located in Providence, the property is described as just minutes from Providence Place, Federal Hill, and Roger Williams Park, with nearby dining and shopping options. I-95 access is also noted as nearby.
With both units delivered vacant, the buyer has flexibility to move in, select tenants, or lease both units from the start.
Located in Providence, the property is described as just minutes from Providence Place, Federal Hill, and Roger Williams Park, with nearby dining and shopping options. I-95 access is also noted as nearby.
With both units delivered vacant, the buyer has flexibility to move in, select tenants, or lease both units from the start.
Key Highlights
- Two‑family home built in 1926 with 4 bedrooms total, plus a basement and two bathrooms
- Each unit features 2 bedrooms, 1 full bath, and a double parlor for flexible living space
- Brand‑new kitchens and brand‑new bathrooms, with fresh paint throughout and refinished hardwood floors
Local 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 | $55.5k | $25.80 |
| − Vacancy | −$3.6k | −$1.68 |
| EGI | $51.9k | $24.12 |
| − OpEx | −$15.6k | −$7.24 |
| NOI | $36.3k | $16.89 |
2,152 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$519.1K
$454.2K – $605.7K
NOI $36,339 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$466.3K
$408.0K – $544.0K
NOI $32,640 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$720.0K
$630.0K – $840.0K
NOI $50,397 @ 7.0% cap · market cap 9.02%
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 - Remodeled two-family home with two 2-bedroom units, separate utilities, off-street parking, and a private backyard.
Where is this duplex located?
The property is located at 46 Ponagansett Avenue Providence, RI.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Two‑family home built in 1926 with 4 bedrooms total, plus a basement and two bathrooms; Each unit features 2 bedrooms, 1 full bath, and a double parlor for flexible living space; Brand‑new kitchens and brand‑new bathrooms, with fresh paint throughout and refinished hardwood floors
