East Side Two-Family
157 Irving Avenue Providence, RI 02906
157 Irving Avenue, Providence, RI, 02906
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For Sale
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Two-family home in desirable East Side neighborhood, investment opportunity.
Property Size2,321 SF
Price / SF$396.38
Days on Market67
Property Features for 157 Irving Avenue
General Information
- Standard status
- Active
- Size
- 2,321 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing Agency
HomeSmart Professionals
Listed by
Alycia Wozniak · License #RES.0045911
Source
Crexi
Added: May 11 Checked: Jul 16 at 11:22 am
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 HomeSmart Professionals
Investment Insights
Based on property information with market context.
Located minutes from Wayland Square and Blackstone Blvd, this two-family home resides in a desirable East Side neighborhood of Providence. It can be purchased independently or in conjunction with the adjacent duplex, presenting an investment opportunity. The property features a first-floor unit with 2 bedrooms and 1 bathroom, along with a townhouse-style upper unit offering 4 bedrooms and 2 bathrooms. The top floor of the upper unit includes central air conditioning. Interior features consist of hardwood floors and naturally lit, open, double-parlor living spaces. The upper level has vaulted ceilings and flexible space suitable for a home office, recreation room, or storage. Shared laundry facilities and additional storage are available in the basement. Off-street parking accommodates up to 3 cars, complemented by a 2-car garage. One unit will be vacant as of 5.31.26. The property is within walking distance of parks, shops, schools, and nearby universities.
Key Highlights
- Highly desirable East Side location near Wayland Square and Blackstone Blvd.
- Two‑family property featuring a 2 bed, 1 bath unit and a spacious 4 bed, 2 bath townhouse‑style unit.
- Enjoy the convenience of off‑street parking for 3 cars plus a 2‑car garage.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.9k | $25.80 |
| − Vacancy | −$3.9k | −$1.68 |
| EGI | $56.0k | $24.12 |
| − OpEx | −$16.8k | −$7.24 |
| NOI | $39.2k | $16.89 |
2,321 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$559.9K
$489.9K – $653.2K
NOI $39,193 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$502.9K
$440.1K – $586.7K
NOI $35,204 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$776.5K
$679.4K – $905.9K
NOI $54,355 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family home in desirable East Side neighborhood, investment opportunity.
Where is this duplex located?
The property is located at 157 Irving Avenue Providence, RI.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Highly desirable East Side location near Wayland Square and Blackstone Blvd.; Two‑family property featuring a 2 bed, 1 bath unit and a spacious 4 bed, 2 bath townhouse‑style unit.; Enjoy the convenience of off‑street parking for 3 cars plus a 2‑car garage.
