New Construction Duplex With Two
New
For Sale
$799,000
139 benedict Street, Providence, RI 02909
MULTI_FAMILY - Providence, RI
Property Size3,861 SF
Lot Size0.10 Acres
Price / SF$206.94
Days on Market7
Property Features for 139 benedict Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
11
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bathroom 1, Basement, Bedroom 5, Bedroom 6, Bedroom 10, Bedroom 1, Bedroom 11, Bathroom 4, Bedroom 9, Bedroom 4, Bedroom 7, Bathroom 2, Bedroom 2, Bedroom 8, Bathroom 5, Bathroom 3
Parking
3
Parking features
None
Patio and Porch features
Porch, Deck
Interior features
Wall (Dry Wall)
Exterior features
Deck, Porch
Basement
Full, Finished
Appliances
Gas Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
Lot features
Fenced, Paved Driveway
Standard status
Active
Size
3,861 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
2026
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
modern kitchens
recessed lighting
in-unit laundry
gas heat
central air
private fully fenced backyard
Building Details
Year built
2025
Floors in Building
3
Number of units
2
Flooring type
Vinyl
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Cathedral Properties
(401) 265-0960
Listed By:
Ruby Delacruz
(401) 428-0863
Added: Aug 5
Last Checked: Aug 11 at 8:06PM
MLS# 1419818
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.
Completed in 2025, this duplex contains 3,861 square feet arranged as two distinct residences. The first unit spans two levels in a townhouse-style configuration, with seven bedrooms, three full bathrooms, and a finished walkout lower level. The second residence provides four bedrooms, two full bathrooms, and an open-concept floor plan.
Both units feature modern kitchens, recessed lighting, in-unit laundry, natural-gas heating, central air, vinyl flooring, and contemporary finishes. Exterior amenities include a deck, porch, and private fully fenced backyard. The property occupies 0.1033 acres and is served by public water. Appliances include a gas water heater, dishwasher, microwave, oven/range, and refrigerator.
Both units feature modern kitchens, recessed lighting, in-unit laundry, natural-gas heating, central air, vinyl flooring, and contemporary finishes. Exterior amenities include a deck, porch, and private fully fenced backyard. The property occupies 0.1033 acres and is served by public water. Appliances include a gas water heater, dishwasher, microwave, oven/range, and refrigerator.
Key Highlights
- 2025‑built duplex with 3,861 square feet
- Two units totaling 11 bedrooms and 5 full bathrooms
- Unit 1 includes 7 bedrooms, 3 full baths, two levels, and a finished walkout lower level
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
$65,197
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
8.16%
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%
$1,303,940
$1.3M
Cap Rate 7%
$931,386
$931.4K
Cap Rate 9%
$724,411
$724.4K
Market Conditions
NOI Build-Up for 3,861 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
$99.6K $25.80/SF
− Vacancy
−$6.5K −$1.68/SF
EGI
$93.1K $24.12/SF
− OpEx
−$27.9K −$7.24/SF
NOI
$65.2K $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%
$1,303,940
Cap Rate 7%
$931,386
Cap Rate 9%
$724,411
Alternative Uses
Best Use
Multifamily LT 5
$931.4K
$815.0K – $1.09M
NOI $65,197 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$836.6K
$732.0K – $976.0K
NOI $58,562 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,420 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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 separately configured residences offer modern kitchens, in-unit laundry, gas heat, and central air.
Where is this duplex located?
The property is located at 139 benedict Street Providence, RI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2025‑built duplex with 3,861 square feet; Two units totaling 11 bedrooms and 5 full bathrooms; Unit 1 includes 7 bedrooms, 3 full baths, two levels, and a finished walkout lower level
