Two-Family Residential Income
For Sale
$545,000
Pending
17 Tyndall Avenue, Providence, RI 02908
Spacious two-unit home with separate utilities, off-street parking, and a fenced backyard with deck.
Property Size2,792 SF
Days on Market59
Property Features for 17 Tyndall Avenue
General Information
Standard status
Pending
Size
2,792 SF
Property subtype
MultiFamily
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
The Ferrara Realty Group
Listed By:
Alan Ferrara · License #REB.0019780
(401) 359-2274
Source:
Lockandkeyre
Added: Jul 15
Changed: Sep 10
Last Checked: Sep 11 at 7:29AM
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 Ferrara Realty Group
Investment Insights
Based on property information with market context.
This two-family residential income property offers two separate units with independent gas and electric utilities. The first-floor unit features 3 bedrooms, 1 full bathroom, an eat-in kitchen, and double parlors. The second-floor unit includes 2 bedrooms, 1 full bathroom, a spacious kitchen with a dedicated dining area, and double parlors.
Additional improvements include vinyl siding, off-street parking, and a fenced backyard with a deck. An unfinished walk-up attic is available and may allow for future expansion or reconfiguration within the home.
The property is presented as a duplex-style asset with two existing residential units and flexibility to add usable space in the attic area, subject to applicable requirements.
Additional improvements include vinyl siding, off-street parking, and a fenced backyard with a deck. An unfinished walk-up attic is available and may allow for future expansion or reconfiguration within the home.
The property is presented as a duplex-style asset with two existing residential units and flexibility to add usable space in the attic area, subject to applicable requirements.
Key Highlights
- Two‑family home built in 1930 with two separate full units
- First‑floor unit: 3 bedrooms, 1 full bath, eat‑in kitchen, and double parlors
- Second‑floor unit: 2 bedrooms, 1 full bath, spacious kitchen with dedicated dining area, and double parlors
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
$47,146
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
8.65%
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%
$942,920
$942.9K
Cap Rate 7%
$673,514
$673.5K
Cap Rate 9%
$523,844
$523.8K
Market Conditions
NOI Build-Up for 2,792 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
$72.0K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.4K $24.12/SF
− OpEx
−$20.2K −$7.24/SF
NOI
$47.1K $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%
$942,920
Cap Rate 7%
$673,514
Cap Rate 9%
$523,844
Alternative Uses
Best Use
Multifamily LT 5
$673.5K
$589.3K – $785.8K
NOI $47,146 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$605.0K
$529.4K – $705.8K
NOI $42,348 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$934.1K
$817.3K – $1.09M
NOI $65,385 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,689
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Spacious two-unit home with separate utilities, off-street parking, and a fenced backyard with deck.
Where is this duplex located?
The property is located at 17 Tyndall Avenue Providence, RI.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Two‑family home built in 1930 with two separate full units; First‑floor unit: 3 bedrooms, 1 full bath, eat‑in kitchen, and double parlors; Second‑floor unit: 2 bedrooms, 1 full bath, spacious kitchen with dedicated dining area, and double parlors
