Two-Unit
For Sale
$489,900
Pending
174 Ford Street, Providence, RI 02907
Two-family duplex with vinyl siding and fresh paint in each unit, offering 2 bedrooms and 1 bathroom per unit.
Property Size2,454 SF
Days on Market14
Property Features for 174 Ford Street
General Information
Standard status
Pending
Size
2,454 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Building Details
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
Innovations Realty
(401) 261-7403
Listed By:
Juan Tejada · License #41738
Source:
Onshorerealtors
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 12 at 3:42AM
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 Innovations Realty
Investment Insights
Based on property information with market context.
This two-unit duplex offers a straightforward home-plus-income setup with each unit configured as 2 bedrooms and 1 bathroom. Each unit includes 754 square feet of living space, and a fresh coat of paint has been applied in both units, providing a clean, ready-to-personalize interior.
The exterior features durable vinyl siding designed for low maintenance. The property also includes three dedicated parking spaces, supporting convenient off-street parking for residents and guests.
Built in 1930, this duplex is positioned for buyers looking for a two-family residence in Providence’s West End neighborhood.
The exterior features durable vinyl siding designed for low maintenance. The property also includes three dedicated parking spaces, supporting convenient off-street parking for residents and guests.
Built in 1930, this duplex is positioned for buyers looking for a two-family residence in Providence’s West End neighborhood.
Key Highlights
- Each unit offers 2 bedrooms and 1 bathroom
- 754 square feet of living space per unit
- Fresh coat of paint in each unit
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
$41,438
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
8.46%
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%
$828,760
$828.8K
Cap Rate 7%
$591,971
$592.0K
Cap Rate 9%
$460,422
$460.4K
Market Conditions
NOI Build-Up for 2,454 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
$63.3K $25.80/SF
− Vacancy
−$4.1K −$1.68/SF
EGI
$59.2K $24.12/SF
− OpEx
−$17.8K −$7.24/SF
NOI
$41.4K $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%
$828,760
Cap Rate 7%
$591,971
Cap Rate 9%
$460,422
Alternative Uses
Best Use
Multifamily LT 5
$592.0K
$518.0K – $690.6K
NOI $41,438 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$531.7K
$465.3K – $620.4K
NOI $37,221 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$821.0K
$718.4K – $957.8K
NOI $57,470 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex with vinyl siding and fresh paint in each unit, offering 2 bedrooms and 1 bathroom per unit.
Where is this duplex located?
The property is located at 174 Ford Street Providence, RI.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Each unit offers 2 bedrooms and 1 bathroom; 754 square feet of living space per unit; Fresh coat of paint in each unit
