Triplex with Detached Six-Car
For Sale
$760,000
Pending
17 Marietta Street, Providence, RI 02904
Triplex offering 3-bedroom units, double parlors, a finished lower level, and a detached six-car garage with off-street parking.
Property Size4,047 SF
Days on Market45
Property Features for 17 Marietta Street
General Information
Standard status
Pending
Size
4,047 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
The Network
(401) 467-3303
Listed By:
Braulio Diaz
Source:
Lockandkeyre
Added: Jul 9
Changed: Aug 22
Last Checked: Aug 22 at 4:09AM
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 The Network
Investment Insights
Based on property information with market context.
This three-family property at 17 Marietta Street features three bedrooms in each unit along with double parlors and a functional layout. Additional living space is provided by a finished lower level that includes three extra bedrooms, a full bathroom, and a comfortable living area.
Set on an oversized lot with a paved yard, the property also includes a detached six-car garage and additional off-street parking for storage and convenience.
The home is described as conveniently located near schools, shopping, restaurants, parks, public transportation, and major highways, offering straightforward access to Providence’s daily needs.
Set on an oversized lot with a paved yard, the property also includes a detached six-car garage and additional off-street parking for storage and convenience.
The home is described as conveniently located near schools, shopping, restaurants, parks, public transportation, and major highways, offering straightforward access to Providence’s daily needs.
Key Highlights
- 1915‑built three‑family (triplex) with 3‑bedroom units and double parlors
- Finished lower level adds extra living space with 3 additional bedrooms, full bath, and living area
- Oversized lot with a paved yard for outdoor use
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
$68,338
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
8.99%
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%
$1,366,760
$1.4M
Cap Rate 7%
$976,257
$976.3K
Cap Rate 9%
$759,311
$759.3K
Market Conditions
NOI Build-Up for 4,047 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
$104.4K $25.80/SF
− Vacancy
−$6.8K −$1.68/SF
EGI
$97.6K $24.12/SF
− OpEx
−$29.3K −$7.24/SF
NOI
$68.3K $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%
$1,366,760
Cap Rate 7%
$976,257
Cap Rate 9%
$759,311
Alternative Uses
Best Use
Multifamily LT 5
$976.3K
$854.2K – $1.14M
NOI $68,338 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$876.9K
$767.3K – $1.02M
NOI $61,383 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,776 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
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 offering 3-bedroom units, double parlors, a finished lower level, and a detached six-car garage with off-street parking.
Where is this triplex located?
The property is located at 17 Marietta Street Providence, RI.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: 1915‑built three‑family (triplex) with 3‑bedroom units and double parlors; Finished lower level adds extra living space with 3 additional bedrooms, full bath, and living area; Oversized lot with a paved yard for outdoor use
