Two-Unit Duplex with
For Sale
$475,000
1281 Douglas Ave, North Providence, RI 02904
Flexible multifamily property with an updated primary unit, finished lower level, and separate electric panel serving the second unit.
Property Size1,890 SF
Price / SF$251.32
Days on Market60
Property Features for 1281 Douglas Ave
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Edge Realty RI
Listed By:
Margaret Rossoni
(401) 783-1007
Source:
Alpernandmesenbourg
Added: Aug 13
Changed: Sep 14
Last Checked: Oct 7 at 2:56PM
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 Edge Realty RI
Investment Insights
Based on property information with market context.
Built in 1960, this 1,890-square-foot duplex includes two residential units with distinct layouts. The larger unit has been updated with vinyl plank flooring and an open-concept living area, plus two bedrooms and two full bathrooms. Its finished lower level provides additional usable space, a secondary kitchen area, and direct walkout access to the backyard. Gas baseboard heating serves this unit.
The second unit contains one bedroom and one full bathroom, with gas-on-gas heat and a separate electric panel. Utilities are currently not separated between the units. The property also includes off-street parking and a backyard set away from the road, adding outdoor separation from the street.
The second unit contains one bedroom and one full bathroom, with gas-on-gas heat and a separate electric panel. Utilities are currently not separated between the units. The property also includes off-street parking and a backyard set away from the road, adding outdoor separation from the street.
Key Highlights
- Two‑unit duplex with 1,890 square feet of total property size
- Unit 1 includes 2 bedrooms, 2 full baths, and a finished lower level
- Finished lower level has an additional kitchen area and full walkout to the backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,469
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,380
$629.4K
Cap Rate 7%
$449,557
$449.6K
Cap Rate 9%
$349,656
$349.7K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$48.1K $25.44/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$45.0K $23.79/SF
− OpEx
−$13.5K −$7.14/SF
NOI
$31.5K $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%
$629,380
Cap Rate 7%
$449,557
Cap Rate 9%
$349,656
Alternative Uses
Best Use
Multifamily LT 5
$449.6K
$393.4K – $524.5K
NOI $31,469 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$356.8K
$312.2K – $416.3K
NOI $24,975 @ 7.0% cap · market cap 5.26%
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
Utilities to site
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
Explore this area
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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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 - Flexible multifamily property with an updated primary unit, finished lower level, and separate electric panel serving the second unit.
Where is this duplex located?
The property is located at 1281 Douglas Ave North Providence, RI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,890 square feet of total property size; Unit 1 includes 2 bedrooms, 2 full baths, and a finished lower level; Finished lower level has an additional kitchen area and full walkout to the backyard
