Duplex with One-Car
For Sale
$385,000
57 Hazael Street, Providence, RI 02908
Residential Income, Providence, RI
Property Size1,104 SF
Lot Size0.07 Acres
Price / SF$348.73
Days on Market38
Property Features for 57 Hazael Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Parking
5
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Unknown)
Basement
Unfinished, Full, Storage Space
Appliances
Gas Water Heater, Dryer, Oven/Range, Refrigerator, Washer
Subdivision
Elmhurt/Pc
Lot features
Corner Lot, Paved Driveway
Standard status
Active
Size
1,104 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4954
Utilities
Heating system
Steam, Natural Gas
Amenities
garage
laundry area
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Laminate, Carpet, Tile - Ceramic
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Kerri Gemma
(401) 480-4983
Added: Jul 20
Changed: Aug 20
Last Checked: Aug 26 at 8:06AM
MLS# 1418336
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 duplex contains 1104 square feet and was built in 1930. The first-floor layout includes a living room, two bedrooms, an eat-in kitchen, and a full bathroom. The second floor offers one bedroom, a living room, an eat-in kitchen, and a full bathroom. An unfinished basement adds storage, laundry space, and another full bathroom.
The property sits on a 0.0735-acre corner lot with parking that includes a one-car garage. Improvements include a new roof, vinyl siding, mixed plumbing, natural-gas steam heat, and a combination of hardwood, laminate, carpet, and ceramic tile flooring. Appliances include a gas water heater, washer, dryer, oven/range, and refrigerator. Schools, highways, and stores are nearby.
The property sits on a 0.0735-acre corner lot with parking that includes a one-car garage. Improvements include a new roof, vinyl siding, mixed plumbing, natural-gas steam heat, and a combination of hardwood, laminate, carpet, and ceramic tile flooring. Appliances include a gas water heater, washer, dryer, oven/range, and refrigerator. Schools, highways, and stores are nearby.
Key Highlights
- Duplex with 1104 square feet on a 0.0735‑acre corner lot
- New roof and one‑car garage
- First floor includes 2 bedrooms, EIK, living room, and full bath
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
$18,642
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
4.84%
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%
$372,840
$372.8K
Cap Rate 7%
$266,314
$266.3K
Cap Rate 9%
$207,133
$207.1K
Market Conditions
NOI Build-Up for 1,104 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
$28.5K $25.80/SF
− Vacancy
−$1.9K −$1.68/SF
EGI
$26.6K $24.12/SF
− OpEx
−$8.0K −$7.24/SF
NOI
$18.6K $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%
$372,840
Cap Rate 7%
$266,314
Cap Rate 9%
$207,133
Alternative Uses
Best Use
Multifamily LT 5
$266.3K
$233.0K – $310.7K
NOI $18,642 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$239.2K
$209.3K – $279.1K
NOI $16,745 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$369.3K
$323.2K – $430.9K
NOI $25,854 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
497
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
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 - Two-level rental property with a corner-lot setting, off-street parking, and a recently installed roof.
Where is this duplex located?
The property is located at 57 Hazael Street Providence, RI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Duplex with 1104 square feet on a 0.0735‑acre corner lot; New roof and one‑car garage; First floor includes 2 bedrooms, EIK, living room, and full bath
