3-Family Triplex with Gas
For Sale
$379,900
Pending
17 Huldah Street, Providence, RI 02909
MULTI_FAMILY - Providence, RI
Property Size2,015 SF
Lot Size0.07 Acres
Days on Market51
Property Features for 17 Huldah Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 9, Bedroom 2, Bathroom 1, Basement, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 8, Bedroom 5, Bedroom 6
Parking
2
Parking features
None
Window features
Skylight(s)
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Copper), Plumbing (Mixed), Plumbing (PEX), Insulation (Unknown)
Basement
Storage Space, Full, Unfinished
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Subdivision
Olneyville
Standard status
Pending
Size
2,015 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6161
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Building Details
Year built
1940
Floors in Building
3
Number of units
3
Flooring type
Carpet, Tile - Ceramic, Vinyl, Hardwood
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Karl Martone · License #145726
(401) 232-7900
Added: Jun 22
Changed: Aug 1
Last Checked: Aug 11 at 11:06PM
MLS# 1416021
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-family triplex offers spacious 2-3 bedroom apartments and is fully rented. The building needs cosmetic updates, and the interior is finished with a mix of drywall and plaster. Flooring includes hardwood, carpet, tile, and vinyl, with copper, mixed, and PEX plumbing reported. Heating is forced air with natural gas, and key appliances include a gas water heater, oven/range, and refrigerator.
The property sits on a 0.0735-acre lot and includes a total of 2,015 square feet of space. Public sewer service is available, and the property lists no on-site parking.
Built in 1940, this Providence, Rhode Island triplex is positioned for an owner who wants to address cosmetic improvements while maintaining existing residential income.
The property sits on a 0.0735-acre lot and includes a total of 2,015 square feet of space. Public sewer service is available, and the property lists no on-site parking.
Built in 1940, this Providence, Rhode Island triplex is positioned for an owner who wants to address cosmetic improvements while maintaining existing residential income.
Key Highlights
- Fully rented 3‑family triplex with spacious 2‑3 bedroom apartments
- Cosmetic updates needed; interior includes drywall and plaster
- Forced‑air natural gas heating plus gas water heater, oven/range, and refrigerator
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
$34,025
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
8.96%
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%
$680,500
$680.5K
Cap Rate 7%
$486,071
$486.1K
Cap Rate 9%
$378,056
$378.1K
Market Conditions
NOI Build-Up for 2,015 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
$52.0K $25.80/SF
− Vacancy
−$3.4K −$1.68/SF
EGI
$48.6K $24.12/SF
− OpEx
−$14.6K −$7.24/SF
NOI
$34.0K $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%
$680,500
Cap Rate 7%
$486,071
Cap Rate 9%
$378,056
Alternative Uses
Best Use
Multifamily LT 5
$486.1K
$425.3K – $567.1K
NOI $34,025 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$436.6K
$382.0K – $509.4K
NOI $30,562 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$674.1K
$589.9K – $786.5K
NOI $47,189 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,235
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?
Triplex - Triplex built in 1940 with forced-air natural gas heating and spacious 2-3 bedroom apartments.
Where is this triplex located?
The property is located at 17 Huldah Street Providence, RI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Fully rented 3‑family triplex with spacious 2‑3 bedroom apartments; Cosmetic updates needed; interior includes drywall and plaster; Forced‑air natural gas heating plus gas water heater, oven/range, and refrigerator
