Two-Unit Residential Income
For Sale
$560,000
147 Parade St, Providence, RI 02907
Two-unit home with a 2-bedroom first-floor unit and a townhouse-style 4-bedroom upper unit.
Property Size3,390 SF
Price / SF$165.19
Days on Market83
Property Features for 147 Parade St
General Information
Standard status
Active
Size
3,390 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
D'Empire Real Estate LLC
Listed By:
Helene Dominguez · License #REB.0019144
(401) 688-2119
Source:
Alpernandmesenbourg
Added: Jul 24
Changed: Oct 5
Last Checked: Oct 7 at 2:35PM
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 D'Empire Real Estate LLC
Investment Insights
Based on property information with market context.
This two-unit residential income property is a large 2-family home with oversized bedrooms and two distinct living configurations. The 1st-floor unit offers 2 bedrooms and 1 full bath. The 2nd and 3rd floors are configured in a townhouse-style layout featuring 4 bedrooms and 1 full bath.
The property is described as being conveniently located near schools, shopping, restaurants, public transportation, and major highways, supporting everyday accessibility for tenants and owner-occupants.
With generous interior space across both units, the home provides a practical setup for rental income, with separate bedroom counts and bath fixtures defined by the existing unit layout.
The property is described as being conveniently located near schools, shopping, restaurants, public transportation, and major highways, supporting everyday accessibility for tenants and owner-occupants.
With generous interior space across both units, the home provides a practical setup for rental income, with separate bedroom counts and bath fixtures defined by the existing unit layout.
Key Highlights
- Large 2‑family home built in 1900 with a first‑floor and townhouse‑style upper unit
- 1st‑floor unit features 2 bedrooms and 1 full bath
- 2nd- and 3rd‑floor townhouse‑style unit features 4 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,418
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,028,360
$1.0M
Cap Rate 7%
$734,543
$734.5K
Cap Rate 9%
$571,311
$571.3K
Market Conditions
NOI Build-Up for 3,390 SF
Gross rent
$99.7K $29.40/SF
− Vacancy
−$6.2K −$1.82/SF
EGI
$93.5K $27.58/SF
− OpEx
−$42.1K −$12.41/SF
NOI
$51.4K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,028,360
Cap Rate 7%
$734,543
Cap Rate 9%
$571,311
Alternative Uses
Best Use
Multifamily LT 5
$817.8K
$715.6K – $954.1K
NOI $57,244 @ 7.0% cap · market cap 10.22%
Second Best
Apartment 5plus
$734.5K
$642.7K – $857.0K
NOI $51,418 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$1.13M
$992.4K – $1.32M
NOI $79,390 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,801
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit home with a 2-bedroom first-floor unit and a townhouse-style 4-bedroom upper unit.
Where is this duplex located?
The property is located at 147 Parade St Providence, RI.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Large 2‑family home built in 1900 with a first‑floor and townhouse‑style upper unit; 1st‑floor unit features 2 bedrooms and 1 full bath; 2nd- and 3rd‑floor townhouse‑style unit features 4 bedrooms and 1 full bath
