New Construction
New
For Sale
$749,900
10 Buffalo Court, Providence, RI 02909
Two contemporary residences offer open living areas, modern kitchens, private primary suites, and laundry within each home.
Property Size2,400 SF
Price / SF$312.46
Days on Market7
Property Features for 10 Buffalo Court
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multifamily
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
Mateus Realty
(401) 434-8399
Listed By:
Jeffrey Mateus
Source:
Lockandkeyre
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 26 at 6:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mateus Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two approximately 1,200-square-foot residences. Each home includes three bedrooms, two full bathrooms, an open arrangement connecting the living, dining, and kitchen areas, and a private laundry setup. The primary bedroom in each unit has a walk-in closet and an attached bathroom.
Interior finishes include kitchens with center islands, stainless steel appliances, and tiled backsplashes. The bathrooms feature tile finishes, while the overall design emphasizes contemporary materials and functional daily living. The property is located at 10 Buffalo Court in Providence, Rhode Island, with each residence offering a separate three-bedroom, two-bath layout suited to the duplex configuration.
Interior finishes include kitchens with center islands, stainless steel appliances, and tiled backsplashes. The bathrooms feature tile finishes, while the overall design emphasizes contemporary materials and functional daily living. The property is located at 10 Buffalo Court in Providence, Rhode Island, with each residence offering a separate three-bedroom, two-bath layout suited to the duplex configuration.
Key Highlights
- Two‑family duplex completed in 2026
- Approximately 1,200 sq. ft. per unit
- Each unit includes 3 bedrooms and 2 full baths
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
$40,527
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
5.40%
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%
$810,540
$810.5K
Cap Rate 7%
$578,957
$579.0K
Cap Rate 9%
$450,300
$450.3K
Market Conditions
NOI Build-Up for 2,400 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
$61.9K $25.80/SF
− Vacancy
−$4.0K −$1.68/SF
EGI
$57.9K $24.12/SF
− OpEx
−$17.4K −$7.24/SF
NOI
$40.5K $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%
$810,540
Cap Rate 7%
$578,957
Cap Rate 9%
$450,300
Alternative Uses
Best Use
Multifamily LT 5
$579.0K
$506.6K – $675.5K
NOI $40,527 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$520.0K
$455.0K – $606.7K
NOI $36,402 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$802.9K
$702.6K – $936.8K
NOI $56,205 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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 contemporary residences offer open living areas, modern kitchens, private primary suites, and laundry within each home.
Where is this duplex located?
The property is located at 10 Buffalo Court Providence, RI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two‑family duplex completed in 2026; Approximately 1,200 sq. ft. per unit; Each unit includes 3 bedrooms and 2 full baths
