Two-Unit Duplex with
New
For Sale
$525,000
53 Sylvia Avenue, North Providence, RI 02911
Residential Income, North Providence, RI
Property Size1,961 SF
Lot Size0.16 Acres
Price / SF$267.72
Days on Market4
Property Features for 53 Sylvia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Basement, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1
Parking
6
Patio and Porch features
Deck, Patio, Porch
Interior features
Plumbing (Mixed)
Exterior features
Deck, Patio, Porch, Screened Pch/Patio/Dck/Brzwy
Basement
Full, Partially Finished
Subdivision
Fruit Hill / Fatima
Lot features
Fenced, Paved Driveway
Standard status
Active
Size
1,961 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6557
Utilities
Heating system
Baseboard, Oil
Cooling system
Whole House Fan
Amenities
hardwood floors
enclosed porch
in-unit laundry
outdoor shed
pergola
brick patios
Building Details
Year built
1929
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Carpet, Laminate
Building materials
Aluminum Siding, Masonry, Vinyl Siding
Listing Agency:
Bhhs Pinnacle Realty · Berkshire Hathaway HomeServices
(401) 331-3948
Listed By:
Joseph Mullen · License #RES.0040363
(401) 486-3484
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 3 at 4:06PM
MLS# 1421697
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 1,961-square-foot duplex, built in 1929, contains two vacant residences with distinct layouts. The first-floor apartment includes one bedroom, living and dining areas, hardwood flooring, an enclosed porch, and in-unit laundry. Its layout may accommodate conversion to a second bedroom. The upper residence offers three bedrooms, a spacious living room, and an eat-in kitchen. Original woodwork and architectural detailing contribute character, while a recently installed shared heating system serves both units.
Additional improvements include a walk-out basement, detached two-car garage, outdoor shed, pergola, and brick patio areas. Deck, porch, tile, carpet, laminate, baseboard heat, oil heat, and a whole-house fan are also documented. The property occupies 0.155 acres in North Providence near shopping, dining, highways, and everyday amenities in the Fruit Hill neighborhood. Sale is subject to Probate Court approval.
Additional improvements include a walk-out basement, detached two-car garage, outdoor shed, pergola, and brick patio areas. Deck, porch, tile, carpet, laminate, baseboard heat, oil heat, and a whole-house fan are also documented. The property occupies 0.155 acres in North Providence near shopping, dining, highways, and everyday amenities in the Fruit Hill neighborhood. Sale is subject to Probate Court approval.
Key Highlights
- Two vacant units: one with 1 bedroom and one with 3 bedrooms
- 1,961 square feet on a 0.155‑acre lot
- Detached two‑car garage, outdoor shed, pergola, and brick patios
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
$32,652
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
6.22%
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%
$653,040
$653.0K
Cap Rate 7%
$466,457
$466.5K
Cap Rate 9%
$362,800
$362.8K
Market Conditions
NOI Build-Up for 1,961 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
$49.9K $25.44/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$46.6K $23.79/SF
− OpEx
−$14.0K −$7.14/SF
NOI
$32.7K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$653,040
Cap Rate 7%
$466,457
Cap Rate 9%
$362,800
Alternative Uses
Best Use
Multifamily LT 5
$466.5K
$408.2K – $544.2K
NOI $32,652 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$370.2K
$323.9K – $431.9K
NOI $25,914 @ 7.0% cap · market cap 4.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 02911, RI
16,384
Population
6,894
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
2.5 sq mi
ZIP Area
6,554
Density / Sq Mi
$85,803
Median Household Income
$53,209
Median Earnings
$1,480
Median Rent
$319,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-family property with flexible layouts, outdoor amenities, and a walk-out lower level.
Where is this duplex located?
The property is located at 53 Sylvia Avenue North Providence, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two vacant units: one with 1 bedroom and one with 3 bedrooms; 1,961 square feet on a 0.155‑acre lot; Detached two‑car garage, outdoor shed, pergola, and brick patios
