Two-Unit Duplex with
For Sale
$750,000
116 Jastram Street, Providence, RI 02908
Two residences feature three-bedroom layouts, full bathrooms, and separate parking access in Providence.
Property Size4,130 SF
Price / SF$181.60
Days on Market14
Property Features for 116 Jastram Street
General Information
Standard status
Active
Size
4,130 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1930
Listing Agency:
Strive Realty
(401) 270-8878
Listed By:
Chanthrea Ou · License #RES.0206357
(401) 409-5368
Source:
Lockandkeyre
Added: Sep 14
Changed: Sep 26
Last Checked: Sep 26 at 8:47AM
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 Strive Realty
Investment Insights
Based on property information with market context.
Located at 116 Jastram Street in Providence, this 1930-built duplex contains two residences, each arranged with 3 bedrooms and 1 full bathroom. The property offers 4,130 square feet of living area, providing a substantial two-unit configuration for residential use.
A two-car garage and private driveway parking add functional off-street parking. The property is set among established homes and is near Providence College, dining, shopping, parks, schools, and major transportation routes. Its two-unit layout supports a range of residential ownership and occupancy arrangements.
A two-car garage and private driveway parking add functional off-street parking. The property is set among established homes and is near Providence College, dining, shopping, parks, schools, and major transportation routes. Its two-unit layout supports a range of residential ownership and occupancy arrangements.
Key Highlights
- Two‑unit duplex with 4,130 square feet of living area
- Each unit includes 3 bedrooms and 1 full bathroom
- Two‑car garage included
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
$62,642
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
8.35%
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%
$1,252,840
$1.3M
Cap Rate 7%
$894,886
$894.9K
Cap Rate 9%
$696,022
$696.0K
Market Conditions
NOI Build-Up for 4,130 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
$121.4K $29.40/SF
− Vacancy
−$7.5K −$1.82/SF
EGI
$113.9K $27.58/SF
− OpEx
−$51.3K −$12.41/SF
NOI
$62.6K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,252,840
Cap Rate 7%
$894,886
Cap Rate 9%
$696,022
Alternative Uses
Best Use
Multifamily LT 5
$996.3K
$871.8K – $1.16M
NOI $69,740 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$894.9K
$783.0K – $1.04M
NOI $62,642 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,720 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,371
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
Check the figures for this property
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 - Two residences feature three-bedroom layouts, full bathrooms, and separate parking access in Providence.
Where is this duplex located?
The property is located at 116 Jastram Street Providence, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit duplex with 4,130 square feet of living area; Each unit includes 3 bedrooms and 1 full bathroom; Two‑car garage included
