Duplex With New Front
New
For Sale
$679,900
172 Eldridge Street, Cranston, RI 02910
Separate utilities and laundry hookups serve both residences.
Property Size2,900 SF
Price / SF$234.45
Days on Market5
Property Features for 172 Eldridge Street
General Information
Standard status
Active
Size
2,900 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
REMAX Revolution
(401) 921-5011
Listed By:
Yolanda Nazario · License #REB.0019331
(401) 480-3668
Source:
Lockandkeyre
Added: Oct 29
Changed: Nov 1
Last Checked: Nov 1 at 5:03AM
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 REMAX Revolution
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Investment Insights
Based on property information with market context.
This 2,900-square-foot duplex contains two residences, each arranged with three bedrooms, one bathroom, a living room, a dining room, and an eat-in kitchen. New quartz countertops update the kitchens, while hardwood flooring and ceramic tile are found throughout. Each unit also has laundry hookups and separate utilities.
Recent exterior work includes new front porches. The property also features a spacious yard and off-street parking. Built in 1920, the building combines two similarly configured units with separate utility arrangements.
Recent exterior work includes new front porches. The property also features a spacious yard and off-street parking. Built in 1920, the building combines two similarly configured units with separate utility arrangements.
Key Highlights
- Two units, each with three bedrooms and one bathroom
- 2,900‑square‑foot duplex built in 1920
- Each residence has a living room, dining room, and eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,286
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,720
$965.7K
Cap Rate 7%
$689,800
$689.8K
Cap Rate 9%
$536,511
$536.5K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$73.8K $25.44/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.0K $23.79/SF
− OpEx
−$20.7K −$7.14/SF
NOI
$48.3K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,720
Cap Rate 7%
$689,800
Cap Rate 9%
$536,511
Alternative Uses
Best Use
Multifamily LT 5
$689.8K
$603.6K – $804.8K
NOI $48,286 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$547.5K
$479.0K – $638.7K
NOI $38,322 @ 7.0% cap · market cap 5.64%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
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Business Placement
Demographics for 02910, RI
21,907
Population
9,319
Households
2.4
Avg Household Size
39
Median Age
30%
College-Educated
90%
High-School Grad
3.4 sq mi
ZIP Area
6,443
Density / Sq Mi
$85,909
Median Household Income
$47,538
Median Earnings
$1,385
Median Rent
$302,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and laundry hookups serve both residences.
Where is this duplex located?
The property is located at 172 Eldridge Street Cranston, RI.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Two units, each with three bedrooms and one bathroom; 2,900‑square‑foot duplex built in 1920; Each residence has a living room, dining room, and eat‑in kitchen
