Newly Constructed
New
For Sale
$705,000
120 Silver Spring Street, Providence, RI 02904
Residential Income, Providence, RI
Property Size2,400 SF
Lot Size0.09 Acres
Price / SF$293.75
Days on Market3
Property Features for 120 Silver Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 3, Basement, Bedroom 2, Bathroom 4, Bedroom 1, Bathroom 2, Bathroom 1
Parking
3
Parking features
None
Interior features
Wall (Dry Wall), Attic, Stairs, Plumbing (PEX), Plumbing (PVC), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Basement
Unfinished, Full, Storage Space
Appliances
Dishwasher, Microwave, Oven, Range, Refrigerator, Gas Water Heater
Lot features
Sidewalks
Standard status
Active
Size
2,400 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Flooring type
Vinyl
Building materials
Dry Wall, Vinyl Siding
Buildings
1
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Aaron Coutu · License #0044787
(401) 347-3276
Added: Nov 4
Last Checked: Nov 6 at 11:06AM
MLS# 1427796
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.
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Investment Insights
Based on property information with market context.
This 2026 duplex contains 2,400 square feet across two residences, each arranged with three bedrooms and two full bathrooms. Both homes have an open-concept layout, a primary bedroom with a walk-in closet, individual laundry hookups, and separate utilities. Kitchens include stainless steel appliances and dishwashers. A full basement provides approximately 1,200 square feet of unfinished area; any conversion or additional use would require buyer review of applicable requirements. The units are to be delivered vacant, and a Certificate of Occupancy is anticipated within 30 days.
The property occupies a 0.0892-acre site at 120 Silver Spring Street in Providence and is zoned R3.
The property occupies a 0.0892-acre site at 120 Silver Spring Street in Providence and is zoned R3.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full bathrooms
- 2,400 square feet of building area on a 0.0892‑acre site
- Full basement with approximately 1,200 square feet of unfinished space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,527
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,540
$810.5K
Cap Rate 7%
$578,957
$579.0K
Cap Rate 9%
$450,300
$450.3K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$61.9K $25.80/SF
− Vacancy
−$4.0K −$1.68/SF
EGI
$57.9K $24.12/SF
− OpEx
−$17.4K −$7.24/SF
NOI
$40.5K $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 Rate 5%
$810,540
Cap Rate 7%
$578,957
Cap Rate 9%
$450,300
Alternative Uses
Best Use
Multifamily LT 5
$579.0K
$506.6K – $675.5K
NOI $40,527 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$520.0K
$455.0K – $606.7K
NOI $36,402 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$802.9K
$702.6K – $936.8K
NOI $56,205 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,152
Businesses Nearby
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Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Providence, RI
Properties on Market for Duplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences offer separate utilities, in-unit laundry hookups, and a shared full basement.
Where is this duplex located?
The property is located at 120 Silver Spring Street Providence, RI.
What is the asking price?
The asking price for this property is $705,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 full bathrooms; 2,400 square feet of building area on a 0.0892‑acre site; Full basement with approximately 1,200 square feet of unfinished space
