Side-by-Side Duplex with Updated
New
For Sale
$699,000
165 Briggs Street, Providence, RI 02905
Two-unit property with nine bedrooms, 4.5 bathrooms, and a recently replaced roof.
Property Size2,800 SF
Price / SF$249.64
Days on Market6
Property Features for 165 Briggs Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
MultiFamily
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Bani Properties
(401) 781-8600
Listed By:
Rafael Delacruz · License #RES.0047879
Source:
Lockandkeyre
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 1:35PM
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 Bani Properties
Investment Insights
Based on property information with market context.
This side-by-side duplex at 165 Briggs Street includes 9 bedrooms and 4.5 bathrooms across approximately 2,800 square feet of property. Built in 1900, the multifamily asset has a roof that is 3 years old and updated electrical systems. The two-unit configuration provides separate residential spaces, with one unit currently rented through Section 8.
The property is positioned near schools, hospitals, shopping centers, and major highways. Its layout supports both continued rental use and an owner-occupant arrangement with separate space for additional household or rental use, as described in the property information.
The property is positioned near schools, hospitals, shopping centers, and major highways. Its layout supports both continued rental use and an owner-occupant arrangement with separate space for additional household or rental use, as described in the property information.
Key Highlights
- Side‑by‑side duplex configuration
- 9 bedrooms and 4.5 bathrooms
- Approximately 2,800 square feet of property
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
$47,281
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
6.76%
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%
$945,620
$945.6K
Cap Rate 7%
$675,443
$675.4K
Cap Rate 9%
$525,344
$525.3K
Market Conditions
NOI Build-Up for 2,800 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
$72.2K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.5K $24.12/SF
− OpEx
−$20.3K −$7.24/SF
NOI
$47.3K $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%
$945,620
Cap Rate 7%
$675,443
Cap Rate 9%
$525,344
Alternative Uses
Best Use
Multifamily LT 5
$675.4K
$591.0K – $788.0K
NOI $47,281 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.8K
NOI $42,469 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$936.8K
$819.7K – $1.09M
NOI $65,573 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,576
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
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-unit property with nine bedrooms, 4.5 bathrooms, and a recently replaced roof.
Where is this duplex located?
The property is located at 165 Briggs Street Providence, RI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Side‑by‑side duplex configuration; 9 bedrooms and 4.5 bathrooms; Approximately 2,800 square feet of property
