Mixed-Use Two-Family
1854 Smith Street North Providence, RI 02911
For Sale
$449,900
Pending
MULTI_FAMILY - North Providence, RI
Property Size2,100 SF
Lot Size0.22 Acres
Days on Market347
Property Features for 1854 Smith Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Basement, Bedroom 1
Parking
1
Interior features
Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Unfinished
Standard status
Pending
Size
2,100 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6000
Utilities
Heating system
Natural Gas, Steam, Central
Building Details
Year built
1922
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Dry Wall, Masonry
Listing Agency:
Neighborhood Realty
(401) 453-2268
Listed By:
Steve Conti
(401) 453-2268
Added: Aug 16, 2025
Changed: Jul 23
Last Checked: Jul 28 at 2:06AM
MLS# 1392786
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 mixed-use two-family property is configured with a first-floor space currently set up as a dog salon, with flexibility noted in the listing for retail, office use, or conversion to a residential apartment. The second floor is a two-bedroom layout with hardwood floors and a dining and living room.
The home is sited on a 0.22-acre lot. The listing notes that the lot may be possible to split with zoning approval to create a separate buildable lot. Updates include a new roof less than three years old, the home has just been painted, and lead certification is provided for the two-bedroom apartment. An oversized one-car garage is also included.
Overall, the property offers two separate residential units, along with a first-floor space that can be adapted based on a buyer’s intended use.
The home is sited on a 0.22-acre lot. The listing notes that the lot may be possible to split with zoning approval to create a separate buildable lot. Updates include a new roof less than three years old, the home has just been painted, and lead certification is provided for the two-bedroom apartment. An oversized one-car garage is also included.
Overall, the property offers two separate residential units, along with a first-floor space that can be adapted based on a buyer’s intended use.
Key Highlights
- Mixed‑use 2‑family: 1st floor set up as a dog salon that can be used for retail, office, or converted to a residential unit
- 2nd floor features a 2‑bedroom layout with hardwood floors and living and dining rooms
- New roof less than 3 years old; home has just been painted; lead certification for the 2‑bed apartment is provided
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.4k | $25.44 |
| − Vacancy | −$3.5k | −$1.65 |
| EGI | $50.0k | $23.79 |
| − OpEx | −$15.0k | −$7.14 |
| NOI | $35.0k | $16.65 |
2,100 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$499.5K
$437.1K – $582.8K
NOI $34,966 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$396.4K
$346.9K – $462.5K
NOI $27,750 @ 7.0% cap · market cap 6.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with a dog salon setup on the first floor and a two-bedroom unit with hardwood floors above.
Where is this duplex located?
The property is located at 1854 Smith Street North Providence, RI.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Mixed‑use 2‑family: 1st floor set up as a dog salon that can be used for retail, office, or converted to a residential unit; 2nd floor features a 2‑bedroom layout with hardwood floors and living and dining rooms; New roof less than 3 years old; home has just been painted; lead certification for the 2‑bed apartment is provided
