Two-Unit Duplex with
New
For Sale
$650,000
904 Newport Avenue, Pawtucket, RI 02861
MULTI_FAMILY - Pawtucket, RI
Property Size2,756 SF
Lot Size0.11 Acres
Price / SF$235.85
Days on Market7
Property Features for 904 Newport Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Basement, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2
Parking
6
Window features
Insulated Windows
Interior features
Wall (Cermaic), Wall (Paneled), Wall (Plaster), Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown)
Basement
Full, Unfinished, Storage Space
Appliances
Dishwasher, Oven/Range, Refrigerator
Subdivision
Darlington
Standard status
Active
Size
2,756 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6611
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
enclosed porches
hardwood floors
thermopane windows
basement storage
yard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Hardwood, Laminate
Building materials
Ceramic, Paneled, Plaster, Vinyl Siding
Listing Agency:
World Net Real Estate Group
(401) 732-1722
Listed By:
Marisa ALMON
(401) 743-5686
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 12 at 9:06AM
MLS# 1419530
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.
Built in 1900, this two-unit duplex contains 2,756 square feet, with each residence measuring 1,378 square feet. Both units include three bedrooms, a dining room and kitchen, a living room, and enclosed porches. Hardwood, laminate, vinyl, and ceramic tile flooring are present throughout the property, with thermopane windows and natural-gas baseboard heat. Dishwashers, ovens/ranges, and refrigerators are included, while separate utilities serve the units.
The 0.1148-acre property includes a detached two-car garage, rear yard, off-street parking, and basement storage. Public water serves the building. The property is located on Newport Avenue near I-95, the MBTA Commuter Rail Station, Slater Park, shopping, schools, support services, and downtown Pawtucket.
The 0.1148-acre property includes a detached two-car garage, rear yard, off-street parking, and basement storage. Public water serves the building. The property is located on Newport Avenue near I-95, the MBTA Commuter Rail Station, Slater Park, shopping, schools, support services, and downtown Pawtucket.
Key Highlights
- 2,756‑square‑foot duplex with two 1,378‑square‑foot units
- Each unit includes 3 bedrooms, a dining room and kitchen, living room, and enclosed porch
- Separate natural‑gas utilities and baseboard heating serve the residences
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
$45,889
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
7.06%
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%
$917,780
$917.8K
Cap Rate 7%
$655,557
$655.6K
Cap Rate 9%
$509,878
$509.9K
Market Conditions
NOI Build-Up for 2,756 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
$70.1K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$65.6K $23.79/SF
− OpEx
−$19.7K −$7.14/SF
NOI
$45.9K $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%
$917,780
Cap Rate 7%
$655,557
Cap Rate 9%
$509,878
Alternative Uses
Best Use
Multifamily LT 5
$655.6K
$573.6K – $764.8K
NOI $45,889 @ 7.0% cap · market cap 7.06%
Second Best
Apartment 5plus
$520.3K
$455.2K – $607.0K
NOI $36,419 @ 7.0% cap · market cap 5.60%
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
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
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 residential units offer separate gas utilities, enclosed porches, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 904 Newport Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,756‑square‑foot duplex with two 1,378‑square‑foot units; Each unit includes 3 bedrooms, a dining room and kitchen, living room, and enclosed porch; Separate natural‑gas utilities and baseboard heating serve the residences
