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Building Details

Year Built 1901

Buildings 1

Construction Victorian

Listing Agency: Residential Properties Ltd. Show Phone

Listed By: Lauri Lee · License #RES.0045383 Show Phone

Source: Lockandkeyre

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 15 at 2:30AM

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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 Residential Properties Ltd.

Investment Insights

Based on property information with market context.

This 2,946-square-foot Victorian duplex, built in 1901, contains two renovated residences with hardwood flooring, updated kitchens and refreshed bathrooms. The finished basement includes shared laundry and space for additional uses. A detached two-car garage provides parking and storage, with potential for future ADU use. The partially fenced backyard also has a storage shed.

The property is within walking distance of Rolfe Square and Blackamore Pond. Major improvements include a roof installed in 2023 and Navien heating systems added in 2022.

Key Highlights

• Two renovated residences in a 2,946‑square‑foot Victorian built in 1901
• Detached two‑car garage with parking and storage; potential for future ADU use
• Finished basement with shared laundry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$49,052

Cap Rate

7.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$981,040 $981.0K

Cap Rate 7%

$700,743 $700.7K

Cap Rate 9%

$545,022 $545.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,946 SF

Gross rent

$74.9K $25.44/SF

− Vacancy

−$4.9K −$1.65/SF

EGI

$70.1K $23.79/SF

− OpEx

−$21.0K −$7.14/SF

NOI

$49.1K $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 Rate 5%

$981,040

Cap Rate 7%

$700,743

Cap Rate 9%

$545,022

Alternative Uses

Best Use

Multifamily LT 5

$700.7K

$613.2K – $817.5K (±1% cap)

NOI $49,052 @ 7.0% cap · market cap 7.85%

Second Best

Apartment 5plus

$556.1K

$486.6K – $648.8K (±1% cap)

NOI $38,930 @ 7.0% cap · market cap 6.23%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Auto Parts Store HVAC Service Carpet & Flooring Store Tech Support Center Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,395

Businesses Nearby

Explore this area Business Placement

Demographics for 02910, RI

21,907

Population

9,319

Households

2.4

Avg Household Size

39

Median Age

30%

College-Educated

90%

High-School Grad

3.4 sq mi

ZIP Area

6,443

Density / Sq Mi

$85,909

Median Household Income

$47,538

Median Earnings

$1,385

Median Rent

$302,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two updated residences offer hardwood floors, refreshed kitchens and baths, plus shared laundry in a finished basement.

Where is this duplex located?

The property is located at 143 Blackamore Avenue Cranston, RI.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: Two renovated residences in a 2,946‑square‑foot Victorian built in 1901; Detached two‑car garage with parking and storage; potential for future ADU use; Finished basement with shared laundry