New Construction Duplex with Central
For Sale
$779,999
159 Camden Ave, Providence, RI 02908
Two residential units offer updated finishes, stainless steel appliances, recessed lighting, and central air.
Property Size3,750 SF
Price / SF$207
Days on Market30
Property Features for 159 Camden Ave
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
central AC
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Innovations Realty
(401) 241-9439
Listed By:
Samuel Albert · License #RES.0042367
Source:
Alpernandmesenbourg
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 25 at 3:56AM
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
Investment Insights
Based on property information with market context.
This two-family property, completed in 2026, includes 8 bedrooms and 4 bathrooms across its residential units. Interior features include premium flooring, stainless steel appliances, recessed lighting, forced-air heating, gas service, central air, and an electric water heater. The basement provides future flexibility for an ADU or in-law arrangement, subject to applicable approvals.
The property is located at 159 Camden Avenue in Providence, Rhode Island, within a short walk of Providence College. Connected sewer service is included. The layout may suit an owner-occupant seeking a multi-unit residence or a buyer considering rental use, as described in the property information.
The property is located at 159 Camden Avenue in Providence, Rhode Island, within a short walk of Providence College. Connected sewer service is included. The layout may suit an owner-occupant seeking a multi-unit residence or a buyer considering rental use, as described in the property information.
Key Highlights
- Two‑family property completed in 2026
- 8 bedrooms and 4 bathrooms
- Short walk from Providence College campus
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
$63,323
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
8.12%
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%
$1,266,460
$1.3M
Cap Rate 7%
$904,614
$904.6K
Cap Rate 9%
$703,589
$703.6K
Market Conditions
NOI Build-Up for 3,750 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
$96.8K $25.80/SF
− Vacancy
−$6.3K −$1.68/SF
EGI
$90.5K $24.12/SF
− OpEx
−$27.1K −$7.24/SF
NOI
$63.3K $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%
$1,266,460
Cap Rate 7%
$904,614
Cap Rate 9%
$703,589
Alternative Uses
Best Use
Multifamily LT 5
$904.6K
$791.5K – $1.06M
NOI $63,323 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$812.5K
$711.0K – $948.0K
NOI $56,878 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,821 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,919
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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 residential units offer updated finishes, stainless steel appliances, recessed lighting, and central air.
Where is this duplex located?
The property is located at 159 Camden Ave Providence, RI.
What is the asking price?
The asking price for this property is $779,999.
What are key features of this property?
This property features: Two‑family property completed in 2026; 8 bedrooms and 4 bathrooms; Short walk from Providence College campus
