Four-Bedroom
For Sale
$649,900
12 Parsons St, East Providence, RI 02914
Two residential units offer flexible space for owner occupancy or rental use.
Property Size3,120 SF
Price / SF$208.30
Days on Market12
Property Features for 12 Parsons St
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,171
Building Details
Buildings
1
Listing Agency:
Heritage Realty Group, LLC
(508) 923-7525
Listed By:
Kimberly Machado
(401) 428-9919
Source:
Exprealty
Added: Aug 31
Changed: Sep 6
Last Checked: Sep 10 at 1:59PM
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 Heritage Realty Group, LLC
Investment Insights
Based on property information with market context.
Located at 12 Parsons St in East Providence, this duplex contains 3,120 square feet and four bedrooms combined across the two units. Each residence is described as having a functional floor plan with comfortable living areas, providing a practical two-unit configuration for residential ownership.
The property is positioned near shopping, restaurants, schools, parks, recreation, and everyday services. Major highways provide commuter access, with Providence nearby. The address is 12-14 Parsons Street, East Providence, RI.
The property is positioned near shopping, restaurants, schools, parks, recreation, and everyday services. Major highways provide commuter access, with Providence nearby. The address is 12-14 Parsons Street, East Providence, RI.
Key Highlights
- Duplex with 3,120 square feet of residential space
- Four bedrooms combined between both units
- Two‑unit configuration with functional layouts
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
$51,949
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
7.99%
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%
$1,038,980
$1.0M
Cap Rate 7%
$742,129
$742.1K
Cap Rate 9%
$577,211
$577.2K
Market Conditions
NOI Build-Up for 3,120 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
$79.4K $25.44/SF
− Vacancy
−$5.2K −$1.65/SF
EGI
$74.2K $23.79/SF
− OpEx
−$22.3K −$7.14/SF
NOI
$51.9K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$1,038,980
Cap Rate 7%
$742,129
Cap Rate 9%
$577,211
Alternative Uses
Best Use
Multifamily LT 5
$742.1K
$649.4K – $865.8K
NOI $51,949 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$589.0K
$515.4K – $687.2K
NOI $41,229 @ 7.0% cap · market cap 6.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,052
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
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 residential units offer flexible space for owner occupancy or rental use.
Where is this duplex located?
The property is located at 12 Parsons St East Providence, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Duplex with 3,120 square feet of residential space; Four bedrooms combined between both units; Two‑unit configuration with functional layouts
