Duplex with Detached
For Sale
$549,900
117 Orchard Street, East Providence, RI 02914
Two separate units offer individual utilities, central air conditioning, and gas heat, with accessibility features and off-street parking.
Property Size3,236 SF
Price / SF$169.93
Days on Market9
Property Features for 117 Orchard Street
General Information
Standard status
Active
Size
3,236 SF
Property subtype
Multifamily
Amenities
central air conditioning
hardwood floors
wheelchair lift
Building Details
Year Built
1930
Buildings
2
Tenancy
Multi
Listing Agency:
BHHS Commonwealth Real Estate
(401) 886-6100
Listed By:
Victor Correia
Source:
Lockandkeyre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 7 at 1:25AM
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 BHHS Commonwealth Real Estate
Investment Insights
Based on property information with market context.
This 3,236-square-foot duplex, built in 1930, contains two residential units with separate utilities, central air conditioning, and gas heat. The first-floor residence includes a Navien combi boiler serving heating and on-demand hot water. Hardwood flooring, a wheelchair lift, and substantial storage contribute practical functionality across the property.
Positioned on a corner lot at 117 Orchard Street in East Providence, the property also includes a detached two-car garage and off-street parking. Shopping, restaurants, schools, parks, public transportation, and major highways are described as minutes away, providing access to a range of everyday services and regional connections.
Positioned on a corner lot at 117 Orchard Street in East Providence, the property also includes a detached two-car garage and off-street parking. Shopping, restaurants, schools, parks, public transportation, and major highways are described as minutes away, providing access to a range of everyday services and regional connections.
Key Highlights
- Two‑family duplex measuring 3,236 square feet
- Separate utilities, central air conditioning, and gas heat in each unit
- First‑floor Navien combi boiler provides heating and on‑demand hot water
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
$42,762
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
7.78%
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%
$855,240
$855.2K
Cap Rate 7%
$610,886
$610.9K
Cap Rate 9%
$475,133
$475.1K
Market Conditions
NOI Build-Up for 3,236 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
$82.7K $25.56/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$77.7K $24.03/SF
− OpEx
−$35.0K −$10.81/SF
NOI
$42.8K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /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%
$855,240
Cap Rate 7%
$610,886
Cap Rate 9%
$475,133
Alternative Uses
Best Use
Multifamily LT 5
$769.7K
$673.5K – $898.0K
NOI $53,881 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$610.9K
$534.5K – $712.7K
NOI $42,762 @ 7.0% cap · market cap 7.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,109
Businesses Nearby
Explore this area
Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units offer individual utilities, central air conditioning, and gas heat, with accessibility features and off-street parking.
Where is this duplex located?
The property is located at 117 Orchard Street East Providence, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑family duplex measuring 3,236 square feet; Separate utilities, central air conditioning, and gas heat in each unit; First‑floor Navien combi boiler provides heating and on‑demand hot water
