Updated Triplex with Private
New
For Sale
$700,000
25 Longfellow Terrace, Providence, RI 02907
Three-level income property with hardwood floors, parking, and convenient access to several major highways.
Property Size3,573 SF
Lot Size0.14 Acres
Price / SF$195.91
Days on Market3
Property Features for 25 Longfellow Terrace
General Information
Standard status
Active
Size
3,573 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
balcony
garden
Building Details
Year Built
1925
Listing Agency:
REMAX Revolution
Listed By:
Porgech Sia · License #39801
Source:
Westcottproperties
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 2 at 1:58PM
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 REMAX Revolution
Investment Insights
Based on property information with market context.
This 3,573-square-foot triplex, built in 1925, includes three residential units with hardwood floors, private balconies on each level, spacious bedrooms, and generous closet space. The interiors have been refreshed and painted, while aluminum siding supports lower-maintenance exterior upkeep. A new electrical service line was installed in 2020, and two water heaters were added in 2026. Lead conformance certificates are to be provided for all three units.
The property sits on a paved 6,000-square-foot lot with abundant parking and a small green area suitable for garden use. Its location provides access to I95 in less than a minute, along with connections to Route 10, Route 146, I195, and I295. Restaurants and markets are located within a couple of blocks.
The property sits on a paved 6,000-square-foot lot with abundant parking and a small green area suitable for garden use. Its location provides access to I95 in less than a minute, along with connections to Route 10, Route 146, I195, and I295. Restaurants and markets are located within a couple of blocks.
Key Highlights
- 3,573 SF triplex built in 1925
- Three units with private balconies on each level
- Paved 6,000 sq. ft. lot with abundant parking
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
$60,334
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
8.62%
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%
$1,206,680
$1.2M
Cap Rate 7%
$861,914
$861.9K
Cap Rate 9%
$670,378
$670.4K
Market Conditions
NOI Build-Up for 3,573 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
$92.2K $25.80/SF
− Vacancy
−$6.0K −$1.68/SF
EGI
$86.2K $24.12/SF
− OpEx
−$25.9K −$7.24/SF
NOI
$60.3K $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%
$1,206,680
Cap Rate 7%
$861,914
Cap Rate 9%
$670,378
Alternative Uses
Best Use
Multifamily LT 5
$861.9K
$754.2K – $1.01M
NOI $60,334 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$774.2K
$677.4K – $903.2K
NOI $54,193 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$1.20M
$1.05M – $1.39M
NOI $83,675 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
673
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?
Triplex - Three-level income property with hardwood floors, parking, and convenient access to several major highways.
Where is this triplex located?
The property is located at 25 Longfellow Terrace Providence, RI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,573 SF triplex built in 1925; Three units with private balconies on each level; Paved 6,000 sq. ft. lot with abundant parking
