Two-Family Home with Private
New
For Sale
$550,000
100 Central Avenue, East Providence, RI 02914
Residential Income, East Providence, RI
Property Size1,946 SF
Lot Size0.15 Acres
Price / SF$282.63
Days on Market2
Property Features for 100 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2
Parking
6
Parking features
None
Patio and Porch features
Deck, Porch
Interior features
Wall (Plaster)
Exterior features
Deck, Porch
Basement
Unfinished, Full
Appliances
Gas Water Heater, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Lot features
Fenced, Paved Driveway
Standard status
Active
Size
1,946 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6440
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas
Amenities
private back deck
private deck
off-street parking
basement storage
Building Details
Year built
1926
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Plaster, Vinyl Siding
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Christina LaVarnway
(401) 942-0200
Added: Aug 25
Last Checked: Aug 26 at 6:06AM
MLS# 1420844
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 1,946-square-foot duplex, built in 1926, contains two residential units with open living and dining areas, hardwood and ceramic tile flooring, plaster interiors, and vinyl siding. The first-floor apartment is vacant, while the upper unit includes its own deck and natural-light-filled living areas. Both units have private deck space, and the property includes a basement for storage.
Recent work includes replacement deck flooring and stairs, plus installation of two new gas hot water tanks. Additional features include baseboard heat, a public sewer connection, and a full appliance package with washer, dryer, refrigerator, microwave, and oven/range. The 0.1497-acre property is within walking distance of neighborhood restaurants and everyday conveniences, with Providence's East Side a short distance away.
Recent work includes replacement deck flooring and stairs, plus installation of two new gas hot water tanks. Additional features include baseboard heat, a public sewer connection, and a full appliance package with washer, dryer, refrigerator, microwave, and oven/range. The 0.1497-acre property is within walking distance of neighborhood restaurants and everyday conveniences, with Providence's East Side a short distance away.
Key Highlights
- Two‑family duplex with 1,946 square feet of property size
- First‑floor unit is vacant and ready for occupancy or rental
- Private deck space serves both residential units
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 - Well-kept duplex with a vacant first-floor unit, separate outdoor areas, basement storage, and updated water-heating equipment.
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 1,946 square feet of property size; First‑floor unit is vacant and ready for occupancy or rental; Private deck space serves both residential units
