Updated Four-Unit Multifamily
For Sale
Under Contract
$869,000
17 Cromwell Street, Providence, RI 02907
Residential Income, Providence, RI
Property Size3,298 SF
Lot Size0.09 Acres
Price / SF$263.49
Days on Market54
Property Features for 17 Cromwell Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 2, Basement, Bedroom 1, Bedroom 3, Bedroom 7, Bedroom 4, Bathroom 1
Parking
4
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Unknown)
Fireplace
1
Basement
Full, Unfinished
Standard status
Active Under Contract
Size
3,298 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7673
Utilities
Heating system
Forced Air, Baseboard, Natural Gas
Building Details
Year built
1895
Floors in Building
4
Number of units
4
Flooring type
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Wood
Listing Agency:
The Greene Realty Group
(888) 278-5840
Listed By:
Derek Greene · License #MA9503235-RE-B
(860) 560-1006
Added: Aug 21
Changed: Sep 16
Last Checked: Oct 13 at 1:06PM
MLS# 1421155
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 3,298-square-foot quadplex contains four residential units within a building constructed in 1895. The property includes a fully finished attic currently used as an in-law suite, along with an unfinished basement. Interior updates include remodeled bathrooms, stainless steel appliances, and updated utilities. Ceramic tile and hardwood flooring are present, with forced-air, natural-gas, and baseboard heating systems. A fireplace is also included.
Located at 17 Cromwell Street in Providence, the property is within reach of major highways, public transportation, shopping, restaurants, schools, and other local amenities. The 0.09-acre parcel is zoned Res, and the property qualifies for FHA financing. The basement provides space for a potential coin-operated laundry installation, subject to applicable requirements.
Located at 17 Cromwell Street in Providence, the property is within reach of major highways, public transportation, shopping, restaurants, schools, and other local amenities. The 0.09-acre parcel is zoned Res, and the property qualifies for FHA financing. The basement provides space for a potential coin-operated laundry installation, subject to applicable requirements.
Key Highlights
- Four residential units in a 3,298‑square‑foot quadplex
- Fully finished attic currently used as an in‑law suite
- Remodeled bathrooms and stainless steel appliances in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,690
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,113,800
$1.1M
Cap Rate 7%
$795,571
$795.6K
Cap Rate 9%
$618,778
$618.8K
Market Conditions
NOI Build-Up for 3,298 SF
Gross rent
$85.1K $25.80/SF
− Vacancy
−$5.5K −$1.68/SF
EGI
$79.6K $24.12/SF
− OpEx
−$23.9K −$7.24/SF
NOI
$55.7K $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 Rate 5%
$1,113,800
Cap Rate 7%
$795,571
Cap Rate 9%
$618,778
Alternative Uses
Best Use
Multifamily LT 5
$795.6K
$696.1K – $928.2K
NOI $55,690 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$714.6K
$625.3K – $833.7K
NOI $50,022 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$1.10M
$965.4K – $1.29M
NOI $77,235 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,641
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
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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?
Quadplex - Providence quadplex with refreshed interiors, a finished attic suite, and an unfinished basement for additional utility.
Where is this quadplex located?
The property is located at 17 Cromwell Street Providence, RI.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Four residential units in a 3,298‑square‑foot quadplex; Fully finished attic currently used as an in‑law suite; Remodeled bathrooms and stainless steel appliances in each unit
