Two-Family Victorian with 3-Car
For Sale
$1,200,000
132 Jenkins Street, Providence, RI 02906
MULTI_FAMILY - Providence, RI
Property Size2,593 SF
Lot Size0.15 Acres
Price / SF$462.78
Days on Market54
Property Features for 132 Jenkins Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 2, Basement, Bedroom 3, Bedroom 1, Bathroom 2
Parking
7
Interior features
Attic, Stairs, Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown)
Basement
Unfinished, Storage Space, Full
Appliances
Electric Water Heater, Gas Water Heater, Dishwasher, Dryer, Oven/Range, Refrigerator
Subdivision
Mt. Hope
Lot features
Paved Driveway
Standard status
Active
Size
2,593 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1062
Utilities
Heating system
Oil, Baseboard, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Water front features
Waterfront
Water front
1
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Vinyl
Building materials
Clapboard, Wood
Listing Agency:
Www.Homezu.Com
(877) 249-5478
Listed By:
Jason Saphire · License #9086666
(877) 249-5478
Added: Jun 22
Changed: Aug 13
Last Checked: Aug 14 at 6:06AM
MLS# 1416084
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.
Investment Insights
Based on property information with market context.
Elegant two-family, three-floor Blue Victorian with a large private yard and a full walk-out basement, plus a 3-car garage. The home features original oak floors with cherry inlays, soaring ceilings with original plaster crown moldings and ceiling medallions, and an impressive original stairway in the front hallway with a mahogany balustrade. The first and second floors each offer spacious 2BR apartments with double parlors, bay windows, eat-in kitchens, and full bathrooms. The third floor is unfinished, offering development potential.
Both apartments are fully rented to professionals with long-term leases. The first floor uses oil heat with a new oil tank and a new electric hot water heater. The second floor has gas baseboard heat with a gas boiler and gas hot water heater. Both apartments include updated 100 amp electrical systems, and replacement windows are installed on all three floors. Public water services the property.
Built in 1900, this two-family residence sits on a 0.1469-acre lot. Heating is provided by oil and natural gas systems, with window A/C units for cooling.
Both apartments are fully rented to professionals with long-term leases. The first floor uses oil heat with a new oil tank and a new electric hot water heater. The second floor has gas baseboard heat with a gas boiler and gas hot water heater. Both apartments include updated 100 amp electrical systems, and replacement windows are installed on all three floors. Public water services the property.
Built in 1900, this two-family residence sits on a 0.1469-acre lot. Heating is provided by oil and natural gas systems, with window A/C units for cooling.
Key Highlights
- 0.1469‑acre lot with a large private yard
- Full walk‑out basement plus a 3‑car garage
- First‑floor apartment: oil heat, new oil tank, new electric hot water heater
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
$43,786
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
3.65%
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%
$875,720
$875.7K
Cap Rate 7%
$625,514
$625.5K
Cap Rate 9%
$486,511
$486.5K
Market Conditions
NOI Build-Up for 2,593 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
$66.9K $25.80/SF
− Vacancy
−$4.3K −$1.68/SF
EGI
$62.6K $24.12/SF
− OpEx
−$18.8K −$7.24/SF
NOI
$43.8K $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%
$875,720
Cap Rate 7%
$625,514
Cap Rate 9%
$486,511
Alternative Uses
Best Use
Multifamily LT 5
$625.5K
$547.3K – $729.8K
NOI $43,786 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$561.8K
$491.6K – $655.5K
NOI $39,329 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$867.5K
$759.1K – $1.01M
NOI $60,725 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,688
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
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 - Fully rented two-family home with replacement windows, updated electrical, and separate oil and gas heating systems.
Where is this duplex located?
The property is located at 132 Jenkins Street Providence, RI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 0.1469‑acre lot with a large private yard; Full walk‑out basement plus a 3‑car garage; First‑floor apartment: oil heat, new oil tank, new electric hot water heater
