Cape-Style Duplex with
New
For Sale
$600,000
85 Moorland Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size2,320 SF
Lot Size0.11 Acres
Price / SF$258.62
Days on Market2
Property Features for 85 Moorland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 5, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Basement, Bedroom 2
Parking
6
Fireplace
1
Basement
Storage Space, Partially Finished, Full
Appliances
Tankless Water Heater
Subdivision
Elmhurst
Standard status
Active
Size
2,320 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3881
Utilities
Heating system
Baseboard, Oil
Building Details
Year built
1952
Number of units
2
Flooring type
Carpet, Hardwood, Vinyl
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Brian Greene
(401) 824-6100
Added: Sep 10
Last Checked: Sep 11 at 1:06AM
MLS# 1422874
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 2,320-square-foot duplex on a 0.11-acre lot combines a Cape-style main residence with a separate apartment above the garage. The upper unit includes one bedroom, one bathroom, a kitchen, and a living area, creating distinct accommodations within the property. The main residence features hardwood, vinyl, and carpet flooring, generous windows, ceiling fans, a kitchen with ample cabinetry and counter space, a breakfast bar, and a dedicated laundry area. A full bathroom with a tub and shower combination, fireplace, basement, and oil-fired baseboard heating add to the existing improvements.
Built in 1952, the property has vinyl siding and a brick chimney. Recent updates include a rear deck and replacement garage doors with automatic lifters. Located in Providence, the duplex offers flexible residential space with an additional self-contained living area above the garage.
Built in 1952, the property has vinyl siding and a brick chimney. Recent updates include a rear deck and replacement garage doors with automatic lifters. Located in Providence, the duplex offers flexible residential space with an additional self-contained living area above the garage.
Key Highlights
- 2,320‑square‑foot duplex on a 0.11‑acre lot
- Separate one‑bedroom, one‑bath apartment above the garage
- Apartment includes its own kitchen and living area
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
$39,176
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
6.53%
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%
$783,520
$783.5K
Cap Rate 7%
$559,657
$559.7K
Cap Rate 9%
$435,289
$435.3K
Market Conditions
NOI Build-Up for 2,320 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
$59.9K $25.80/SF
− Vacancy
−$3.9K −$1.68/SF
EGI
$56.0K $24.12/SF
− OpEx
−$16.8K −$7.24/SF
NOI
$39.2K $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%
$783,520
Cap Rate 7%
$559,657
Cap Rate 9%
$435,289
Alternative Uses
Best Use
Multifamily LT 5
$559.7K
$489.7K – $652.9K
NOI $39,176 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$502.7K
$439.9K – $586.5K
NOI $35,189 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$776.2K
$679.2K – $905.5K
NOI $54,332 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,371
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate one-bedroom apartment sits above the garage with its own kitchen and living area.
Where is this duplex located?
The property is located at 85 Moorland Avenue Providence, RI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2,320‑square‑foot duplex on a 0.11‑acre lot; Separate one‑bedroom, one‑bath apartment above the garage; Apartment includes its own kitchen and living area
