Two-Unit Property with Finished
For Sale
$449,900
Pending
161 Ford Street, Providence, RI 02909
The existing layout includes a garage and additional finished lower-level space.
Property Size1,176 SF
Days on Market12
Property Features for 161 Ford Street
General Information
Standard status
Pending
Size
1,176 SF
Total Parking Spaces
2
Property subtype
Multifamily
Amenities
finished basement
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
JPAR Prime Real Estate
(401) 388-4830
Listed By:
Annmarie Debrito · License #RES.004748
Source:
Lockandkeyre
Added: Jul 31
Changed: Aug 11
Last Checked: Aug 11 at 6:50AM
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 JPAR Prime Real Estate
Investment Insights
Based on property information with market context.
This two-unit residential property in Providence offers 1,176 square feet with a total layout of 3 bedrooms and 3 bathrooms. Built in 1930, the property also includes a finished basement that adds functional lower-level space and a 2-car garage. The existing configuration provides a clear starting point for renovation and improvement, with updating needed throughout.
Located at 161 Ford Street in Providence, the property is suited to buyers seeking a duplex configuration with established physical improvements. The basement and garage add useful components beyond the main living areas, while the bedroom and bathroom count supports a practical two-unit arrangement.
Located at 161 Ford Street in Providence, the property is suited to buyers seeking a duplex configuration with established physical improvements. The basement and garage add useful components beyond the main living areas, while the bedroom and bathroom count supports a practical two-unit arrangement.
Key Highlights
- Two‑unit property with 1,176 SF
- 3 bedrooms and 3 bathrooms
- Finished basement included
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
$19,858
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
4.41%
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%
$397,160
$397.2K
Cap Rate 7%
$283,686
$283.7K
Cap Rate 9%
$220,644
$220.6K
Market Conditions
NOI Build-Up for 1,176 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
$30.3K $25.80/SF
− Vacancy
−$2.0K −$1.68/SF
EGI
$28.4K $24.12/SF
− OpEx
−$8.5K −$7.24/SF
NOI
$19.9K $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%
$397,160
Cap Rate 7%
$283,686
Cap Rate 9%
$220,644
Alternative Uses
Best Use
Multifamily LT 5
$283.7K
$248.2K – $331.0K
NOI $19,858 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$254.8K
$223.0K – $297.3K
NOI $17,837 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$393.4K
$344.3K – $459.0K
NOI $27,541 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,457
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The existing layout includes a garage and additional finished lower-level space.
Where is this duplex located?
The property is located at 161 Ford Street Providence, RI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two‑unit property with 1,176 SF; 3 bedrooms and 3 bathrooms; Finished basement included
