Four-Bedroom
For Sale
$649,900
Pending
12 Parsons St, East Providence, RI 02914
Two residential units offer flexible space for owner occupancy or rental use.
Property Size3,120 SF
Days on Market58
Property Features for 12 Parsons St
General Information
Standard status
Pending
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: Oct 26
Last Checked: Oct 26 at 4:27PM
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
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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 / Yr
$51,949
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
