Duplex With Private
New
For Sale
$529,000
128 Vincent Avenue, North Providence, RI 02904
Townhouse-style upper residence offers flexible bedroom and dining or office arrangements.
Property Size2,111 SF
Price / SF$250.59
Days on Market6
Property Features for 128 Vincent Avenue
General Information
Standard status
Active
Size
2,111 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
above-ground pool
storage shed
solar panel system
Building Details
Year Built
1900
Buildings
1
Tenancy
Single
Listing Agency:
eXp Realty
Listed By:
Livin Group · License #49448
Source:
Onshorerealtors
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 19 at 5:19AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,111-square-foot duplex, built in 1900, combines a leased first-floor unit with a townhouse-style residence spanning the second and third floors. The upper unit can be arranged as either three bedrooms or two bedrooms with a separate dining room or office. Interior features include an open kitchen, upper-level bedrooms, basement storage, and oil-fired steam heat supported by a newer oil tank. The building has vinyl siding and an existing solar panel system that is fully paid off.
Outdoor improvements include a completely fenced backyard, above-ground pool, storage shed, mature plantings, and a driveway accommodating up to 4 cars. The first-floor tenant pays gas heat, while water is owner-paid. The property is located near shopping, I-95, Route 146, and the Providence train station in North Providence, RI.
Outdoor improvements include a completely fenced backyard, above-ground pool, storage shed, mature plantings, and a driveway accommodating up to 4 cars. The first-floor tenant pays gas heat, while water is owner-paid. The property is located near shopping, I-95, Route 146, and the Providence train station in North Providence, RI.
Key Highlights
- 2,111 SF duplex built in 1900
- First‑floor unit is currently leased
- Upper townhouse‑style unit can provide 3 bedrooms or 2 bedrooms plus dining room/office
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
$35,149
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
6.64%
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%
$702,980
$703.0K
Cap Rate 7%
$502,129
$502.1K
Cap Rate 9%
$390,544
$390.5K
Market Conditions
NOI Build-Up for 2,111 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
$53.7K $25.44/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$50.2K $23.79/SF
− OpEx
−$15.1K −$7.14/SF
NOI
$35.1K $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%
$702,980
Cap Rate 7%
$502,129
Cap Rate 9%
$390,544
Alternative Uses
Best Use
Multifamily LT 5
$502.1K
$439.4K – $585.8K
NOI $35,149 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$398.5K
$348.7K – $464.9K
NOI $27,896 @ 7.0% cap · market cap 5.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
651
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
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 - Townhouse-style upper residence offers flexible bedroom and dining or office arrangements.
Where is this duplex located?
The property is located at 128 Vincent Avenue North Providence, RI.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 2,111 SF duplex built in 1900; First‑floor unit is currently leased; Upper townhouse‑style unit can provide 3 bedrooms or 2 bedrooms plus dining room/office
