Duplex with Detached
New
For Sale
$749,900
1171 Chalkstone Avenue, Providence, RI 02908
MULTI_FAMILY - Providence, RI
Property Size2,690 SF
Lot Size0.09 Acres
Price / SF$278.77
Days on Market2
Property Features for 1171 Chalkstone Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 6, Bedroom 3, Bedroom 1, Bathroom 1, Basement, Bathroom 2, Bedroom 2, Bedroom 4
Parking
4
Patio and Porch features
Porch, Patio
Interior features
Wall (Dry Wall), Wall (Plaster), Attic, Stairs, Plumbing (Mixed), Insulation (Walls)
Exterior features
Patio, Porch
Fireplace
1
Basement
Storage Space, Finished, Full
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Lot features
Fenced, Paved Driveway, Sidewalks
Standard status
Active
Size
2,690 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3975
Utilities
Heating system
Baseboard, Oil, Natural Gas, Steam
Water source
Public
Amenities
fenced yard
front porch
backyard patio
detached garage
off-street parking
separate utilities
in-unit laundry
Building Details
Year built
1926
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Tile - Ceramic, Hardwood
Building materials
Dry Wall, Plaster, Brick, Masonry, Vinyl Siding
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Melanie Ruiz
(401) 651-8141
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 7 at 8:06PM
MLS# 1419046
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Providence duplex contains 2,690 square feet within a 1926-built property, with each level arranged as an independent home. Original hardwood flooring, decorative columns, and detailed woodwork preserve period character, while renovated kitchens and bathrooms provide updated functionality. The lower level includes space that may be restored for additional living area.
Exterior features include a fully fenced yard, front porch, backyard patio, detached two-car garage, and additional off-street parking. Separate utilities and in-unit laundry further support day-to-day operation. The property is minutes from Providence College, shopping, named restaurants including Los Andes, Capital Grille, and Fogo de Chao, and highway access. Public water serves the property.
Exterior features include a fully fenced yard, front porch, backyard patio, detached two-car garage, and additional off-street parking. Separate utilities and in-unit laundry further support day-to-day operation. The property is minutes from Providence College, shopping, named restaurants including Los Andes, Capital Grille, and Fogo de Chao, and highway access. Public water serves the property.
Key Highlights
- 2,690‑square‑foot duplex on a 0.09‑acre lot
- Built in 1926 with original hardwood floors, decorative columns, and detailed woodwork
- Renovated kitchens and bathrooms retain the property’s period character
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
$45,424
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
6.06%
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%
$908,480
$908.5K
Cap Rate 7%
$648,914
$648.9K
Cap Rate 9%
$504,711
$504.7K
Market Conditions
NOI Build-Up for 2,690 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
$69.4K $25.80/SF
− Vacancy
−$4.5K −$1.68/SF
EGI
$64.9K $24.12/SF
− OpEx
−$19.5K −$7.24/SF
NOI
$45.4K $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%
$908,480
Cap Rate 7%
$648,914
Cap Rate 9%
$504,711
Alternative Uses
Best Use
Multifamily LT 5
$648.9K
$567.8K – $757.1K
NOI $45,424 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$582.9K
$510.0K – $680.0K
NOI $40,800 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$900.0K
$787.5K – $1.05M
NOI $62,997 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,754
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
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 - Separate utilities and in-unit laundry add practical functionality for both residences.
Where is this duplex located?
The property is located at 1171 Chalkstone Avenue Providence, RI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 2,690‑square‑foot duplex on a 0.09‑acre lot; Built in 1926 with original hardwood floors, decorative columns, and detailed woodwork; Renovated kitchens and bathrooms retain the property’s period character
