78 Grotto Avenue, Providence, RI 02906
MULTI_FAMILY - Providence, RI
- Added:
- Jun 2, 2026
- Days on Market:
- 26
- Last Refresh:
- Jun 27 at 6:06 pm
Property Features for 78 Grotto Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R1
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 7, Basement, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 5
- Parking features
- Garage
- Patio and Porch features
- Porch
- Interior features
- Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (None), Insulation (Unknown)
- Exterior features
- Balcony, Porch
- Fireplace
- 1
- Basement
- Storage Space, Full, Unfinished
- Appliances
- Dishwasher, Dryer, Exhaust Fan, Oven/Range, Refrigerator, Washer
- Standard status
- Active
- Size
- 3,083 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8942
Utilities
- Heating system
- Steam, Oil
- Water source
- Public
Building Details
- Year built
- 1913
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Hardwood, Tile - Ceramic
- Building materials
- Plaster, Clapboard
- Additional Structures
- None
Listing agent Rachael Dotson License #RES.0040997 (401) 439-7705
Listing office Residential Properties Ltd. 140 Wickenden Street, RI (401) 274-6740
Listing date Jun 2, 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.
HighLights
- 2‑family home with year built 1913, located at 78‑80 Grotto Avenue in Providence’s Eastside Grotto neighborhood
- Wood‑burning fireplace in each unit plus hardwood and ceramic tile flooring
- Front and back porches, with two 2nd‑story balconies
- Both units have private entrances with original doors and glass
- Utilities include public water; heating systems are steam and oil
- Garage parking plus a dry basement for storage
Overview
Located at 78 Grotto Avenue on Providence’s Eastside in the Grotto neighborhood, the property is positioned in a green and quiet setting. The remarks note it is within walking distance to coffee shops, the retail section of Wayland Square, and Whole Foods, with nearby access to Providence destinations. Showings are scheduled to begin Thursday, June 11.
For tenants, owner-occupants, or buyers seeking a straightforward two-unit residential income property, the configuration provides separate entries and comparable bedroom and bath layouts across both units. With each unit having its own fireplace and additional outdoor areas, the home may fit well for residents who value privacy and character, while the basement storage and updated heating systems support day-to-day functionality.
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 | $79.5k | $25.80 |
| − Vacancy | −$5.2k | −$1.68 |
| EGI | $74.4k | $24.12 |
| − OpEx | −$22.3k | −$7.24 |
| NOI | $52.1k | $16.89 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.3835781
- Latitude
- 41.8372292
