Duplex with Private
For Sale
$779,000
Pending
107 Home Avenue, Providence, RI 02908
MULTI_FAMILY - Providence, RI
Property Size2,496 SF
Lot Size0.11 Acres
Days on Market58
Property Features for 107 Home Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 8, Bedroom 2, Bedroom 3, Bedroom 7, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 2, Basement, Bathroom 1, Bedroom 1
Parking
6
Parking features
None
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Attic, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Porch
Basement
Storage Space, Partially Finished, Full
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Subdivision
Mt Pleasant
Standard status
Pending
Size
2,496 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3835
Utilities
Heating system
Steam, Natural Gas
Water source
Public
Amenities
private porch
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Vinyl
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Bhhs Commonwealth Real Estate · Berkshire Hathaway HomeServices
(401) 886-6100
Listed By:
The Hiraldo Group
(401) 451-2422
Added: Jun 16
Changed: Aug 4
Last Checked: Aug 12 at 10:06PM
MLS# 1415593
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 two-family duplex offers spacious, functional layout for either owner-occupancy or rental use. The property provides nearly 1,250 sq. ft. of living space per unit, for about 2,496 sq. ft. total, with each unit featuring three bedrooms and one full bathroom. Each unit also includes its own private porch. The home is supported by a partially finished basement, offering extra living, recreational, or storage space, and a generous attic for additional storage.
Additional practical features include a large driveway with off-street parking, natural gas heating with steam, and public water service. Interior finishes include plaster and dry wall, with vinyl siding exterior and a mix of vinyl and hardwood flooring.
Built in 1930, the property includes a gas water heater, oven/range, and refrigerator. The combination of two separate units, private outdoor space, and expanded lower and upper-level space can support a range of occupancy and leasing plans.
Additional practical features include a large driveway with off-street parking, natural gas heating with steam, and public water service. Interior finishes include plaster and dry wall, with vinyl siding exterior and a mix of vinyl and hardwood flooring.
Built in 1930, the property includes a gas water heater, oven/range, and refrigerator. The combination of two separate units, private outdoor space, and expanded lower and upper-level space can support a range of occupancy and leasing plans.
Key Highlights
- Nearly 1,250 sq. ft. of living space per unit and about 2,496 sq. ft. total
- Each unit offers 3 bedrooms and 1 full bathroom
- Private porch for 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
$42,148
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
5.41%
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%
$842,960
$843.0K
Cap Rate 7%
$602,114
$602.1K
Cap Rate 9%
$468,311
$468.3K
Market Conditions
NOI Build-Up for 2,496 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
$64.4K $25.80/SF
− Vacancy
−$4.2K −$1.68/SF
EGI
$60.2K $24.12/SF
− OpEx
−$18.1K −$7.24/SF
NOI
$42.1K $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%
$842,960
Cap Rate 7%
$602,114
Cap Rate 9%
$468,311
Alternative Uses
Best Use
Multifamily LT 5
$602.1K
$526.9K – $702.5K
NOI $42,148 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$540.8K
$473.2K – $631.0K
NOI $37,858 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$835.0K
$730.7K – $974.2K
NOI $58,453 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,332
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
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 duplex with private porches, three bedrooms and one full bath in each unit, plus a partially finished basement.
Where is this duplex located?
The property is located at 107 Home Avenue Providence, RI.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Nearly 1,250 sq. ft. of living space per unit and about 2,496 sq. ft. total; Each unit offers 3 bedrooms and 1 full bathroom; Private porch for each unit
