Two-Unit Residential
148 Burnside Street, Providence, RI 02905
For Sale
New
$775,000
Separate residences include gas forced-air heat, central air conditioning, and vinyl siding.
Property Size3,120 SF
Price / SF$248.40
Days on Market6
Property Features for 148 Burnside Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Innovations Realty
(401) 414-7414
Listed By:
Madelynn Duarte · License RI RES.0044330
(401) 481-7357
Source:
Lockandkeyre
Added: Nov 5
Changed: Nov 8
Last Checked: Nov 8 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 Innovations Realty
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Investment Insights
Based on property information with market context.
Completed in 2019, this two-unit duplex contains 3,120 square feet. Each residence has four bedrooms, two full bathrooms, and one half bathroom, with gas forced-air heating, central air conditioning, and vinyl siding. The property is located at 148 Burnside Street in Providence.
Key Highlights
- Built in 2019
- 3,120 square feet across two residences
- Each unit has 4 bedrooms, 2 full bathrooms, and 1 half bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,685
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,053,700
$1.1M
Cap Rate 7%
$752,643
$752.6K
Cap Rate 9%
$585,389
$585.4K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$80.5K $25.80/SF
− Vacancy
−$5.2K −$1.68/SF
EGI
$75.3K $24.12/SF
− OpEx
−$22.6K −$7.24/SF
NOI
$52.7K $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 Rate 5%
$1,053,700
Cap Rate 7%
$752,643
Cap Rate 9%
$585,389
Alternative Uses
Best Use
Multifamily LT 5
$752.6K
$658.6K – $878.1K
NOI $52,685 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$676.0K
$591.5K – $788.7K
NOI $47,322 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.04M
$913.3K – $1.22M
NOI $73,067 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,576
Businesses Nearby
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Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Providence, RI
Properties on Market for Duplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences include gas forced-air heat, central air conditioning, and vinyl siding.
Where is this duplex located?
The property is located at 148 Burnside Street Providence, RI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Built in 2019; 3,120 square feet across two residences; Each unit has 4 bedrooms, 2 full bathrooms, and 1 half bathroom
