Two-Unit Duplex with
New
For Sale
$625,000
113 Radcliffe Avenue, Providence, RI 02908
Both residences include three bedrooms, a full bathroom, double living rooms, and a separate galley kitchen.
Property Size2,496 SF
Price / SF$250.40
Days on Market6
Property Features for 113 Radcliffe Avenue
General Information
Standard status
Active
Size
2,496 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Innovations Realty
(401) 414-7414
Listed By:
The ALBA Group · License #37342
(401) 451-2422
Source:
Lockandkeyre
Added: Oct 17
Changed: Oct 21
Last Checked: Oct 20 at 10:53PM
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 1920-built duplex contains two residences, each arranged with three bedrooms, one full bathroom, double living rooms, an eat-in dining area, and a separate galley kitchen. Original hardwood floors, mahogany columns, built-ins, and detailed woodwork remain among the interior features. Front porches serve both the property’s historic character and its residential layout, while off-street parking is also available.
An unfinished attic provides additional space, with any future conversion or expansion subject to required approvals and permits. The property is near Providence College, shopping, dining, and major highways.
An unfinished attic provides additional space, with any future conversion or expansion subject to required approvals and permits. The property is near Providence College, shopping, dining, and major highways.
Key Highlights
- Two residential units, each with three bedrooms and one full bathroom
- Double living rooms, an eat‑in dining area, and separate galley kitchen in each unit
- Original hardwood floors, mahogany columns, built‑ins, and detailed woodwork
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,148
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
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
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 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 6.74%
Second Best
Apartment 5plus
$540.8K
$473.2K – $631.0K
NOI $37,858 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$835.0K
$730.7K – $974.2K
NOI $58,453 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,576
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include three bedrooms, a full bathroom, double living rooms, and a separate galley kitchen.
Where is this duplex located?
The property is located at 113 Radcliffe Avenue Providence, RI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two residential units, each with three bedrooms and one full bathroom; Double living rooms, an eat‑in dining area, and separate galley kitchen in each unit; Original hardwood floors, mahogany columns, built‑ins, and detailed woodwork
