Two-Family Duplex with
For Sale
$679,900
Pending
162 SE Eastwood Avenue, Providence, RI 02909
Residential Income, Providence, RI
Property Size2,116 SF
Lot Size0.11 Acres
Days on Market136
Property Features for 162 SE Eastwood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Basement, Bathroom 2
Parking
8
Interior features
Wall (Dry Wall), Stairs, Plumbing (Copper), Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Finished
Appliances
Gas Water Heater, Dryer
Subdivision
Silver Lake
Lot features
Fenced, Paved Driveway
Standard status
Pending
Size
2,116 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4023
Utilities
Heating system
Forced Air, Space Heater, Natural Gas
Water source
Public
Building Details
Year built
2008
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Auburn Insurance & Realty Co.
(401) 943-3388
Listed By:
Aggy Garcia
(401) 999-9331
Added: Apr 16
Changed: Aug 20
Last Checked: Aug 29 at 7:06PM
MLS# 1410291
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,116-square-foot duplex was built in 2008 and is arranged as a two-family residential property. The interior includes six bedrooms, two bathrooms, and a basement, with hardwood and ceramic tile flooring throughout portions of the building. Construction includes vinyl siding and drywall, while interior plumbing includes copper and mixed materials.
Building systems include forced-air and space-heater equipment using natural gas, along with a gas water heater. A dryer is included, and the property receives water from the public system. The parcel encompasses 0.1148 acres at 162 SE Eastwood Avenue in Providence, Rhode Island.
Building systems include forced-air and space-heater equipment using natural gas, along with a gas water heater. A dryer is included, and the property receives water from the public system. The parcel encompasses 0.1148 acres at 162 SE Eastwood Avenue in Providence, Rhode Island.
Key Highlights
- 2,116‑square‑foot duplex built in 2008
- Two‑family layout with 6 bedrooms and 2 bathrooms
- 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
$35,731
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
5.26%
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%
$714,620
$714.6K
Cap Rate 7%
$510,443
$510.4K
Cap Rate 9%
$397,011
$397.0K
Market Conditions
NOI Build-Up for 2,116 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
$54.6K $25.80/SF
− Vacancy
−$3.5K −$1.68/SF
EGI
$51.0K $24.12/SF
− OpEx
−$15.3K −$7.24/SF
NOI
$35.7K $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%
$714,620
Cap Rate 7%
$510,443
Cap Rate 9%
$397,011
Alternative Uses
Best Use
Multifamily LT 5
$510.4K
$446.6K – $595.5K
NOI $35,731 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$458.5K
$401.2K – $534.9K
NOI $32,094 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$707.9K
$619.4K – $825.9K
NOI $49,554 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
926
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residential property featuring hardwood and ceramic tile flooring, natural-gas heating, and public water service.
Where is this duplex located?
The property is located at 162 SE Eastwood Avenue Providence, RI.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: 2,116‑square‑foot duplex built in 2008; Two‑family layout with 6 bedrooms and 2 bathrooms; Basement included
