Three-Unit Townhouse-Style
For Sale
$899,000
155 Ohio Avenue, Providence, RI 02905
Two townhouse-style units and one single-story unit share laundry, a patio, and four off-street parking spaces.
Property Size3,573 SF
Price / SF$251.61
Days on Market31
Property Features for 155 Ohio Avenue
General Information
Standard status
Active
Size
3,573 SF
Total Parking Spaces
4
Property subtype
Multifamily
Units
Unit Mix
2 x townhouse-style, 1 x single-story
Multifamily Units
3
Amenities
hardwood floors
replacement windows
common laundry
shared patio
off-street parking
Building Details
Year Built
1920
Listing Agency:
Beryllium Realty Group
(401) 321-4112
Listed By:
Jose Morales
Source:
Lockandkeyre
Added: Aug 2
Changed: Aug 31
Last Checked: Aug 4 at 3:36AM
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 Beryllium Realty Group
Investment Insights
Based on property information with market context.
Built in 1920, this three-unit property at 155 Ohio Avenue includes two townhouse-style residences and one single-story residence arranged across five levels of living space. Interior features include hardwood flooring and replacement windows, while the basement provides common laundry. Residents also have access to a shared patio and off-street parking for four vehicles.
The property is part of a portfolio owned and managed by a property management company. Maintenance records, financial statements, and profit-and-loss statements are available upon request. Located in Providence, Rhode Island, the asset offers a defined three-unit configuration with a mix of multi-level and single-story living spaces.
The property is part of a portfolio owned and managed by a property management company. Maintenance records, financial statements, and profit-and-loss statements are available upon request. Located in Providence, Rhode Island, the asset offers a defined three-unit configuration with a mix of multi-level and single-story living spaces.
Key Highlights
- Three‑unit property built in 1920
- Two townhouse‑style units plus one single‑story unit
- Five levels of living space
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
$60,334
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
6.71%
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%
$1,206,680
$1.2M
Cap Rate 7%
$861,914
$861.9K
Cap Rate 9%
$670,378
$670.4K
Market Conditions
NOI Build-Up for 3,573 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
$92.2K $25.80/SF
− Vacancy
−$6.0K −$1.68/SF
EGI
$86.2K $24.12/SF
− OpEx
−$25.9K −$7.24/SF
NOI
$60.3K $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%
$1,206,680
Cap Rate 7%
$861,914
Cap Rate 9%
$670,378
Alternative Uses
Best Use
Multifamily LT 5
$861.9K
$754.2K – $1.01M
NOI $60,334 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$774.2K
$677.4K – $903.2K
NOI $54,193 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$1.20M
$1.05M – $1.39M
NOI $83,675 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two townhouse-style units and one single-story unit share laundry, a patio, and four off-street parking spaces.
Where is this triplex located?
The property is located at 155 Ohio Avenue Providence, RI.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three‑unit property built in 1920; Two townhouse‑style units plus one single‑story unit; Five levels of living space
