Mixed-Use Property with Flexible
For Sale
$500,000
786 Eddy Street, Providence, RI 02905
Residential Income, Providence, RI
Property Size1,968 SF
Lot Size0.05 Acres
Price / SF$254.07
Days on Market9
Property Features for 786 Eddy Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Basement, Bathroom 2, Bathroom 3
Parking
3
Parking features
None
Interior features
Wall (Dry Wall), Attic, Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Storage Space, Unfinished, Full
Lot features
Corner Lot
Standard status
Active
Size
1,968 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5042
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1968
Floors in Building
2
Number of units
2
Flooring type
Laminate, Vinyl
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
Herland Cabrera · License #RES.0046665
(401) 837-5601
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 26 at 8:06AM
MLS# 1422946
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 mixed-use property at 786 Eddy Street contains 1,968 square feet on a 0.0483-acre lot. The layout includes two bedrooms, three bathrooms, a basement, attic space, stairs, and flexible interior configurations. Interior finishes include drywall, vinyl and laminate flooring, while vinyl siding completes the exterior. Baseboard heating is supplied by natural gas, and the structure was built in 1968.
The property is in Providence near Downtown Providence, Rhode Island Hospital, Hasbro Children's Hospital, Johnson & Wales University, and the South Providence business corridor. Access is available to I-95, Route 6, Route 10, and public transit routes. Parking is not provided on site.
The property is in Providence near Downtown Providence, Rhode Island Hospital, Hasbro Children's Hospital, Johnson & Wales University, and the South Providence business corridor. Access is available to I-95, Route 6, Route 10, and public transit routes. Parking is not provided on site.
Key Highlights
- 1,968‑square‑foot mixed‑use property at 786 Eddy Street
- 0.0483‑acre lot in Providence, RI 02905
- Two bedrooms, three bathrooms, basement, and attic
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
$33,232
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
6.65%
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%
$664,640
$664.6K
Cap Rate 7%
$474,743
$474.7K
Cap Rate 9%
$369,244
$369.2K
Market Conditions
NOI Build-Up for 1,968 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
$50.8K $25.80/SF
− Vacancy
−$3.3K −$1.68/SF
EGI
$47.5K $24.12/SF
− OpEx
−$14.2K −$7.24/SF
NOI
$33.2K $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%
$664,640
Cap Rate 7%
$474,743
Cap Rate 9%
$369,244
Alternative Uses
Best Use
Multifamily LT 5
$474.7K
$415.4K – $553.9K
NOI $33,232 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$426.4K
$373.1K – $497.5K
NOI $29,850 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$658.4K
$576.1K – $768.1K
NOI $46,088 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,503
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-bedroom, three-bathroom property with basement space, natural gas heating, and access to public transit.
Where is this mixed-use property located?
The property is located at 786 Eddy Street Providence, RI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,968‑square‑foot mixed‑use property at 786 Eddy Street; 0.0483‑acre lot in Providence, RI 02905; Two bedrooms, three bathrooms, basement, and attic
