Renovated Triplex With
111 Waverly St, Providence, RI 02907
For Sale
$739,900
Updated three-family property with central heating and cooling on each floor plus off-street parking.
Property Size2,480 SF
Price / SF$298.35
Days on Market58
Property Features for 111 Waverly St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
central air conditioning
Building Details
Year Built
Buildings
Listing Agency:
Innovations Realty
Listed By:
Krystle Cook · License RI RES.0044690
(401) 451-6454
Source:
Alpernandmesenbourg
Added: Sep 18
Changed: Nov 8
Last Checked: Nov 12 at 11:27AM
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 Innovations Realty
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Investment Insights
Based on property information with market context.
This three-family property in Providence’s West End contains 2,480 square feet and was built in 1920. The interior and exterior have been substantially updated, with new siding, roofing, windows, flooring, recessed lighting, and refinished hardwood floors. Each residence includes a renovated kitchen with new cabinetry, granite countertops, and appliances, along with newly finished bathrooms.
The property provides 9 bedrooms and 3.5 bathrooms, with off-street parking available. Each floor is served by a new HVAC system offering central heat and central air conditioning. The combination of refreshed building components, updated residential finishes, and separate floor-by-floor HVAC systems supports its use as a renovated three-family asset.
The property provides 9 bedrooms and 3.5 bathrooms, with off-street parking available. Each floor is served by a new HVAC system offering central heat and central air conditioning. The combination of refreshed building components, updated residential finishes, and separate floor-by-floor HVAC systems supports its use as a renovated three-family asset.
Key Highlights
- Three‑family property with 9 bedrooms and 3.5 bathrooms
- 2,480 square feet; built in 1920
- New siding, roof, windows, flooring, and recessed lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,878
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,560
$837.6K
Cap Rate 7%
$598,257
$598.3K
Cap Rate 9%
$465,311
$465.3K
Market Conditions
NOI Build-Up for 2,480 SF
Gross rent
$64.0K $25.80/SF
− Vacancy
−$4.2K −$1.68/SF
EGI
$59.8K $24.12/SF
− OpEx
−$17.9K −$7.24/SF
NOI
$41.9K $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 Rate 5%
$837,560
Cap Rate 7%
$598,257
Cap Rate 9%
$465,311
Alternative Uses
Best Use
Multifamily LT 5
$598.3K
$523.5K – $698.0K
NOI $41,878 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$537.4K
$470.2K – $626.9K
NOI $37,615 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$829.7K
$726.0K – $968.0K
NOI $58,079 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,457
Businesses Nearby
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Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Providence, RI
Properties on Market for Triplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Updated three-family property with central heating and cooling on each floor plus off-street parking.
Where is this triplex located?
The property is located at 111 Waverly St Providence, RI.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Three‑family property with 9 bedrooms and 3.5 bathrooms; 2,480 square feet; built in 1920; New siding, roof, windows, flooring, and recessed lighting
