Newer Two-Family
For Sale
$700,000
51 Lynch Street, Providence, RI 02908
Residential Income, Providence, RI
Property Size3,168 SF
Lot Size0.07 Acres
Price / SF$220.96
Days on Market17
Property Features for 51 Lynch Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Basement, Bathroom 4, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Parking
4
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (PVC)
Basement
Full, Unfinished
Appliances
Gas Water Heater, Dryer, Microwave, Refrigerator, Washer
Standard status
Active
Size
3,168 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4606
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Realpro By The Water
(401) 600-4100
Listed By:
The Realpro Group
(401) 900-5885
Added: Aug 26
Changed: Sep 8
Last Checked: Sep 11 at 5:06AM
MLS# 1421621
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.
Built in 2024, this two-family duplex at 51 Lynch Street contains 3,168 square feet on a 0.0735-acre lot. The layout includes six bedrooms, four bathrooms, and a basement, with vinyl flooring, drywall interiors, and vinyl siding. Central air and natural-gas forced-air heating serve the property, while a gas water heater, washer, dryer, refrigerator, and microwave are included. Public water is available, and the property is zoned R2.
The Providence address places the home near Providence College, schools, convenience stores, major highways, dining, shopping, and other daily services. The property is offered for sale and provides a two-unit residential configuration with newer construction and no designated on-site parking.
The Providence address places the home near Providence College, schools, convenience stores, major highways, dining, shopping, and other daily services. The property is offered for sale and provides a two-unit residential configuration with newer construction and no designated on-site parking.
Key Highlights
- 2024 construction with 3,168 square feet of building area
- Two‑family duplex with six bedrooms, four bathrooms, and a basement
- 0.0735‑acre lot in Providence, RI 02908
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
$53,495
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
7.64%
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%
$1,069,900
$1.1M
Cap Rate 7%
$764,214
$764.2K
Cap Rate 9%
$594,389
$594.4K
Market Conditions
NOI Build-Up for 3,168 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
$81.7K $25.80/SF
− Vacancy
−$5.3K −$1.68/SF
EGI
$76.4K $24.12/SF
− OpEx
−$22.9K −$7.24/SF
NOI
$53.5K $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%
$1,069,900
Cap Rate 7%
$764,214
Cap Rate 9%
$594,389
Alternative Uses
Best Use
Multifamily LT 5
$764.2K
$668.7K – $891.6K
NOI $53,495 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$686.4K
$600.6K – $800.9K
NOI $48,051 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$1.06M
$927.4K – $1.24M
NOI $74,191 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,050
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - R2-zoned residential property with central air, natural-gas forced-air heat, and public water service.
Where is this duplex located?
The property is located at 51 Lynch Street Providence, RI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2024 construction with 3,168 square feet of building area; Two‑family duplex with six bedrooms, four bathrooms, and a basement; 0.0735‑acre lot in Providence, RI 02908
