Two-Family Duplex with Water
New
For Sale
$525,000
Pending
145 Oak Crest Drive, East Providence, RI 02915
Two units provide distinct layouts, separate utilities, and off-street parking.
Property Size2,280 SF
Days on Market6
Property Features for 145 Oak Crest Drive
General Information
Standard status
Pending
Size
2,280 SF
Total Parking Spaces
4
Property subtype
Multifamily
Property Condition
Severity
Minor
Evidence
needs some cosmetic updates
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
private yard
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Compass
(401) 269-3244
Listed By:
Friedman Group
Source:
Lockandkeyre
Added: Aug 15
Changed: Aug 20
Last Checked: Aug 19 at 7:44AM
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 Compass
Investment Insights
Based on property information with market context.
This 2,280-square-foot duplex, built in 1968, contains two separately metered residences. The larger unit offers three bedrooms and two bathrooms, including a primary suite on the first floor with a private ensuite bathroom and dedicated laundry. The second residence includes two bedrooms, one bathroom, and a partially finished basement that adds storage or flexible hobby space. Cosmetic updates are needed in the second unit, while the property has a brand-new roof.
Outdoor features include water views, a private yard, and off-street parking for four cars. The address is 145 Oak Crest Drive in East Providence, Rhode Island, with each unit supported by separate utilities.
Outdoor features include water views, a private yard, and off-street parking for four cars. The address is 145 Oak Crest Drive in East Providence, Rhode Island, with each unit supported by separate utilities.
Key Highlights
- 2,280‑square‑foot duplex with two residential units
- Unit 1 has 3 bedrooms, 2 bathrooms, and a first‑floor primary suite
- Unit 2 includes 2 bedrooms, 1 bathroom, and a partially finished basement
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
$37,963
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
7.23%
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%
$759,260
$759.3K
Cap Rate 7%
$542,329
$542.3K
Cap Rate 9%
$421,811
$421.8K
Market Conditions
NOI Build-Up for 2,280 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
$58.0K $25.44/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$54.2K $23.79/SF
− OpEx
−$16.3K −$7.14/SF
NOI
$38.0K $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%
$759,260
Cap Rate 7%
$542,329
Cap Rate 9%
$421,811
Alternative Uses
Best Use
Multifamily LT 5
$542.3K
$474.5K – $632.7K
NOI $37,963 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$430.4K
$376.6K – $502.2K
NOI $30,129 @ 7.0% cap · market cap 5.74%
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
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Explore this area
Business Placement
Demographics for 02915, RI
16,603
Population
7,746
Households
2.1
Avg Household Size
47
Median Age
36%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,019
Density / Sq Mi
$90,558
Median Household Income
$61,062
Median Earnings
$1,482
Median Rent
$317,600
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?
Duplex - Two units provide distinct layouts, separate utilities, and off-street parking.
Where is this duplex located?
The property is located at 145 Oak Crest Drive East Providence, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,280‑square‑foot duplex with two residential units; Unit 1 has 3 bedrooms, 2 bathrooms, and a first‑floor primary suite; Unit 2 includes 2 bedrooms, 1 bathroom, and a partially finished basement
