Duplex With Two-Car
For Sale
$539,900
Pending
184 Gladstone Street, Cranston, RI 02920
Residential Income, Cranston, RI
Property Size3,254 SF
Lot Size0.16 Acres
Days on Market47
Property Features for 184 Gladstone Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
B1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Basement
Parking
4
Parking features
Open
Patio and Porch features
Deck, Patio
Interior features
Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Exterior features
Deck, Patio
Basement
Storage Space, Partially Finished, Full
Appliances
Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
Lot features
Fenced, Paved Driveway
Standard status
Pending
Size
3,254 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4900
Utilities
Sewer type
Public Sewer
Heating system
Oil
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Vinyl Siding
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Ramon Betances · License #RES.0042400
(401) 824-9864
Added: Jul 27
Changed: Sep 10
Last Checked: Sep 11 at 2:06PM
MLS# 1418971
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 3,254-square-foot duplex, built in 1961, includes two residential units with bedrooms, bathrooms, living areas, and a basement. Hardwood and ceramic tile flooring are complemented by ceiling, floor, and wall insulation. The property also includes a two-car garage, appliances such as a dishwasher, washer, dryer, oven/range, and refrigerator, plus a deck and patio.
Set on 0.16 acres at 184 Gladstone Street in Cranston, the property is served by public sewer and carries B1 zoning. Vinyl siding, oil heat, and open parking are among the additional property features. Its location provides access to shopping, dining, highways, and local amenities.
Set on 0.16 acres at 184 Gladstone Street in Cranston, the property is served by public sewer and carries B1 zoning. Vinyl siding, oil heat, and open parking are among the additional property features. Its location provides access to shopping, dining, highways, and local amenities.
Key Highlights
- 3,254‑square‑foot duplex built in 1961
- Two‑car garage with additional open parking
- 0.16‑acre fenced backyard with deck and patio
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
$43,000
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
7.96%
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%
$860,000
$860.0K
Cap Rate 7%
$614,286
$614.3K
Cap Rate 9%
$477,778
$477.8K
Market Conditions
NOI Build-Up for 3,254 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
$83.2K $25.56/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$78.2K $24.03/SF
− OpEx
−$35.2K −$10.81/SF
NOI
$43.0K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
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%
$860,000
Cap Rate 7%
$614,286
Cap Rate 9%
$477,778
Alternative Uses
Best Use
Multifamily LT 5
$774.0K
$677.3K – $903.0K
NOI $54,181 @ 7.0% cap · market cap 10.04%
Second Best
Apartment 5plus
$614.3K
$537.5K – $716.7K
NOI $43,000 @ 7.0% cap · market cap 7.96%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
601
Businesses Nearby
Explore this area
Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
Median Home Value
Check the figures for this property
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 - Well-maintained duplex with hardwood flooring, basement storage, outdoor living areas, and a fenced backyard.
Where is this duplex located?
The property is located at 184 Gladstone Street Cranston, RI.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 3,254‑square‑foot duplex built in 1961; Two‑car garage with additional open parking; 0.16‑acre fenced backyard with deck and patio
