Two-Unit Duplex with Fenced
New
For Sale
$530,000
18 Amory Street, Providence, RI 02904
Two-bedroom units feature separate gas heating systems and full bathrooms for each household.
Property Size2,646 SF
Lot Size0.11 Acres
Price / SF$200.30
Days on Market4
Property Features for 18 Amory Street
General Information
Standard status
Active
Size
2,646 SF
Total Parking Spaces
4
Lot size
0.11 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fenced yard
Building Details
Year Built
1930
Buildings
1
Listing Agency:
eXp Realty
(888) 315-3445
Listed By:
Slocum Home Team
Source:
Lockandkeyre
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 5:37AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 18 Amory Street in Providence’s North End, this 2,646-square-foot duplex was built in 1930 and is configured for two households. Each residence includes two bedrooms and one full bathroom, while separate gas heating systems serve the units independently. The property also includes a fenced yard and four off-street parking spaces on a 4,800-square-foot lot.
The home is near I-95, RI Hospital, public and private schools, shopping, and the bus line. Its two-unit layout, dedicated heating systems, and existing parking provide a practical residential income property configuration within Providence.
The home is near I-95, RI Hospital, public and private schools, shopping, and the bus line. Its two-unit layout, dedicated heating systems, and existing parking provide a practical residential income property configuration within Providence.
Key Highlights
- 2,646‑square‑foot duplex built in 1930
- Each unit includes 2 bedrooms and 1 full bath
- Two separate gas heating systems serve the building
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
$44,681
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
8.43%
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%
$893,620
$893.6K
Cap Rate 7%
$638,300
$638.3K
Cap Rate 9%
$496,456
$496.5K
Market Conditions
NOI Build-Up for 2,646 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
$68.3K $25.80/SF
− Vacancy
−$4.4K −$1.68/SF
EGI
$63.8K $24.12/SF
− OpEx
−$19.1K −$7.24/SF
NOI
$44.7K $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 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%
$893,620
Cap Rate 7%
$638,300
Cap Rate 9%
$496,456
Alternative Uses
Best Use
Multifamily LT 5
$638.3K
$558.5K – $744.7K
NOI $44,681 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$573.3K
$501.7K – $668.9K
NOI $40,133 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$885.2K
$774.6K – $1.03M
NOI $61,966 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
568
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature separate gas heating systems and full bathrooms for each household.
Where is this duplex located?
The property is located at 18 Amory Street Providence, RI.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 2,646‑square‑foot duplex built in 1930; Each unit includes 2 bedrooms and 1 full bath; Two separate gas heating systems serve the building
