Duplex with Private
New
For Sale
$550,000
100 Central Avenue, East Providence, RI 02914
Two-unit property offering off-street parking, basement storage, and a vacant first-floor residence.
Property Size1,946 SF
Price / SF$282.63
Days on Market6
Property Features for 100 Central Avenue
General Information
Standard status
Active
Size
1,946 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Amenities
private deck
off-street parking
basement storage
Building Details
Year Built
1926
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Christina LaVarnway · License #RES.0046442
Source:
Lockandkeyre
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 10:10PM
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 Williams & Stuart Real Estate
Investment Insights
Based on property information with market context.
Built in 1926, this duplex contains two residential units with open living and dining areas, period details, and abundant natural light. The first-floor residence is vacant and available for occupancy or rental, while the upstairs unit includes a comparable layout. Each unit has a private back deck, and recent work includes new deck flooring and stairs plus two new hot water tanks.
The property also provides generous off-street parking and a clean basement with substantial storage space. Neighborhood eateries and everyday conveniences are within walking distance, while Providence’s East Side is described as minutes away. The combination of two units, outdoor space, parking, and recent improvements supports both owner-occupancy and rental use.
The property also provides generous off-street parking and a clean basement with substantial storage space. Neighborhood eateries and everyday conveniences are within walking distance, while Providence’s East Side is described as minutes away. The combination of two units, outdoor space, parking, and recent improvements supports both owner-occupancy and rental use.
Key Highlights
- Two‑family duplex with two residential units
- Vacant first‑floor unit ready for occupancy or rental
- Private back deck serving each unit
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
$32,402
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
5.89%
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%
$648,040
$648.0K
Cap Rate 7%
$462,886
$462.9K
Cap Rate 9%
$360,022
$360.0K
Market Conditions
NOI Build-Up for 1,946 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
$49.5K $25.44/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$46.3K $23.79/SF
− OpEx
−$13.9K −$7.14/SF
NOI
$32.4K $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%
$648,040
Cap Rate 7%
$462,886
Cap Rate 9%
$360,022
Alternative Uses
Best Use
Multifamily LT 5
$462.9K
$405.0K – $540.0K
NOI $32,402 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$367.4K
$321.4K – $428.6K
NOI $25,715 @ 7.0% cap · market cap 4.68%
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
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
Explore this area
Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
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-unit property offering off-street parking, basement storage, and a vacant first-floor residence.
Where is this duplex located?
The property is located at 100 Central Avenue East Providence, RI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑family duplex with two residential units; Vacant first‑floor unit ready for occupancy or rental; Private back deck serving each unit
