Owner-Occupied Two-Family
For Sale
$529,900
Pending
110 Mount Pleasant Avenue, Providence, RI 02906
Well-maintained two-family property on a corner lot with a 3-car garage, porch, and upgraded systems.
Property Size1,702 SF
Days on Market54
Property Features for 110 Mount Pleasant Avenue
General Information
Standard status
Pending
Size
1,702 SF
Total Parking Spaces
3
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Amenities
porch
oversized yard
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
RE/MAX ADVANTAGE GROUP
(401) 823-1500
Listed By:
Liz Kettelle · License #RES.0027499
(401) 823-7701
Source:
Lockandkeyre
Added: Jul 20
Changed: Sep 10
Last Checked: Sep 11 at 6:54AM
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 RE/MAX ADVANTAGE GROUP
Investment Insights
Based on property information with market context.
This well-maintained, owner-occupied two-family home sits on a corner lot and includes a beautiful porch and an oversized yard. The property has been owned by the same owner for 30 years and has undergone many upgrades, including the roof, many windows, and electrical improvements.
The home is located at 110 Mount Pleasant Avenue in Providence, Rhode Island. It features a 3-car garage, supporting off-street parking and storage for day-to-day use.
As a residential income property, it offers a practical setup for owner-occupants or investors seeking a long-held, upgraded two-family residence with exterior and mechanical improvements already addressed.
The home is located at 110 Mount Pleasant Avenue in Providence, Rhode Island. It features a 3-car garage, supporting off-street parking and storage for day-to-day use.
As a residential income property, it offers a practical setup for owner-occupants or investors seeking a long-held, upgraded two-family residence with exterior and mechanical improvements already addressed.
Key Highlights
- Owner‑occupied 2‑family home built in 1930 on a corner lot in Mount Pleasant
- Well‑maintained property with an oversized yard and a porch
- 3‑car garage
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
$28,740
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
5.42%
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%
$574,800
$574.8K
Cap Rate 7%
$410,571
$410.6K
Cap Rate 9%
$319,333
$319.3K
Market Conditions
NOI Build-Up for 1,702 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
$43.9K $25.80/SF
− Vacancy
−$2.9K −$1.68/SF
EGI
$41.1K $24.12/SF
− OpEx
−$12.3K −$7.24/SF
NOI
$28.7K $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%
$574,800
Cap Rate 7%
$410,571
Cap Rate 9%
$319,333
Alternative Uses
Best Use
Multifamily LT 5
$410.6K
$359.3K – $479.0K
NOI $28,740 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$368.8K
$322.7K – $430.3K
NOI $25,815 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$569.4K
$498.2K – $664.3K
NOI $39,859 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
982
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family property on a corner lot with a 3-car garage, porch, and upgraded systems.
Where is this duplex located?
The property is located at 110 Mount Pleasant Avenue Providence, RI.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Owner‑occupied 2‑family home built in 1930 on a corner lot in Mount Pleasant; Well‑maintained property with an oversized yard and a porch; 3‑car garage
