53 Fairmount Avenue Providence, RI 02908
MULTI_FAMILY - Providence, RI
- Added:
- Jul 8, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 12 at 2:06 am
Property Features for 53 Fairmount Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Basement, Bedroom 8, Bathroom 2, Bedroom 4, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 7, Bedroom 3, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 1
- Parking
- 8
- Parking features
- None
- Interior features
- Wall (Plaster), Plumbing (Mixed), Insulation (Cap)
- Basement
- Unfinished, Storage Space, Full
- Appliances
- Gas Water Heater, Oven/Range, Refrigerator
- Standard status
- Active Under Contract
- Size
- 2,340 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 25
- Tax Annual Amount
- 8478
Utilities
- Heating system
- Natural Gas, Central
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 4
- Flooring type
- Tile - Ceramic, Laminate, Vinyl
- Building materials
- Plaster, Aluminum Siding, Vinyl Siding
Listing agent Kerri Gemma (401) 232-3900
Listing office Re/Max Properties 696 Douglas Pike, SMITHFIELD, RI (401) 232-3900
Listing date Jul 8, 2026
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.
The property is located at 53 Fairmount Avenue in Providence, Rhode Island (02908). The listing describes a good-sized lot and parking availability as key practical features for day-to-day access and tenant convenience.
For buyers, this layout offers an operator a straightforward mix of unit sizes, with both smaller and larger floorplans in the same building. The off-street parking can also be an asset for tenants, particularly for those with vehicles or visitors. Whether you are looking to own a rental property or occupy part of the building to offset housing costs, the unit mix and existing condition are central considerations supported by the property description.
Key Highlights
- 4‑unit multifamily with 2 one‑bedroom apartments and 2 three‑bedroom apartments
- Built in 1920
- Natural gas heating with central heating
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 | $60.4k | $25.80 |
| − Vacancy | −$3.9k | −$1.68 |
| EGI | $56.4k | $24.12 |
| − OpEx | −$16.9k | −$7.24 |
| NOI | $39.5k | $16.89 |
