Remodeled Triplex with
For Sale
$875,000
16 Deborah St, Providence, RI 02909
Vacant multifamily property with updated interiors, off-street parking, and a detached garage.
Property Size3,463 SF
Price / SF$252.67
Days on Market63
Property Features for 16 Deborah St
General Information
Standard status
Active
Size
3,463 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1898
Buildings
1
Listing Agency:
RE/MAX Impact
Listed By:
Jonathan Wojtowicz · License #451503440
(508) 717-3070
Source:
Alpernandmesenbourg
Added: Aug 13
Changed: Oct 13
Last Checked: Oct 7 at 2:31PM
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 RE/MAX Impact
Investment Insights
Based on property information with market context.
Built in 1898, this three-family property has been remodeled with contemporary finishes throughout and is being offered vacant. The configuration includes two three-bedroom units and a larger third unit described with a five-bedroom option. Off-street parking and a detached two-car garage provide added on-site functionality.
The property is located in Providence’s Silver Lake neighborhood, with access to downtown Providence, major highways, public transportation, dining, shopping, and entertainment. Its existing multifamily layout and vacant delivery provide flexibility for an owner-occupant or investor, subject to the buyer’s intended use.
The property is located in Providence’s Silver Lake neighborhood, with access to downtown Providence, major highways, public transportation, dining, shopping, and entertainment. Its existing multifamily layout and vacant delivery provide flexibility for an owner-occupant or investor, subject to the buyer’s intended use.
Key Highlights
- Three‑family property built in 1898
- Remodeled interiors with fresh, modern finishes
- Two 3‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,477
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,169,540
$1.2M
Cap Rate 7%
$835,386
$835.4K
Cap Rate 9%
$649,744
$649.7K
Market Conditions
NOI Build-Up for 3,463 SF
Gross rent
$89.3K $25.80/SF
− Vacancy
−$5.8K −$1.68/SF
EGI
$83.5K $24.12/SF
− OpEx
−$25.1K −$7.24/SF
NOI
$58.5K $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%
$1,169,540
Cap Rate 7%
$835,386
Cap Rate 9%
$649,744
Alternative Uses
Best Use
Multifamily LT 5
$835.4K
$731.0K – $974.6K
NOI $58,477 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$750.4K
$656.6K – $875.4K
NOI $52,525 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,099 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Vacant multifamily property with updated interiors, off-street parking, and a detached garage.
Where is this triplex located?
The property is located at 16 Deborah St Providence, RI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three‑family property built in 1898; Remodeled interiors with fresh, modern finishes; Two 3‑bedroom units
