Two-Unit Residential Income
For Sale
$584,000
194 Pavilion Ave, Providence, RI 02905
Well-maintained two-family home with two 2-bedroom units, hardwood floors, gas heat, and off-street parking for up to eight vehicles.
Property Size2,352 SF
Price / SF$248.30
Days on Market111
Property Features for 194 Pavilion Ave
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Lower South Providence
Building Details
Year Built
1930
Listing Agency:
Circle 100 Real Estate
Listed By:
Lissette Guzman · License #RES.0042951
(401) 230-6272
Source:
Alpernandmesenbourg
Added: Jul 8
Changed: Oct 25
Last Checked: Oct 7 at 2:43PM
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 Circle 100 Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained two-family property offers two spacious units, each configured with 2 bedrooms and 1 full bathroom, for a total of 4 bedrooms and 3 full bathrooms across the home. Interior features include hardwood floors and gas heat. Exterior amenities include a fenced yard and a paved driveway with parking for up to eight vehicles.
The property has had recent major systems work, including two newer boilers installed approximately two years ago and water tanks replaced in May 2026. It also includes leased solar panels with an approximately $190 monthly payment; the solar lease is described as assumable.
Both units are part of the same residence, providing a straightforward duplex configuration for rental income and potential owner-occupant use.
The property has had recent major systems work, including two newer boilers installed approximately two years ago and water tanks replaced in May 2026. It also includes leased solar panels with an approximately $190 monthly payment; the solar lease is described as assumable.
Both units are part of the same residence, providing a straightforward duplex configuration for rental income and potential owner-occupant use.
Key Highlights
- Well‑maintained two‑family home built in 1930 with two 2‑bedroom units and 3 full bathrooms total
- Hardwood floors and gas heat throughout both units
- Paved driveway with off‑street parking for up to 8 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,716
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$794,320
$794.3K
Cap Rate 7%
$567,371
$567.4K
Cap Rate 9%
$441,289
$441.3K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$60.7K $25.80/SF
− Vacancy
−$3.9K −$1.68/SF
EGI
$56.7K $24.12/SF
− OpEx
−$17.0K −$7.24/SF
NOI
$39.7K $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 Rate 5%
$794,320
Cap Rate 7%
$567,371
Cap Rate 9%
$441,289
Alternative Uses
Best Use
Multifamily LT 5
$567.4K
$496.5K – $661.9K
NOI $39,716 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$509.6K
$445.9K – $594.6K
NOI $35,674 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$786.9K
$688.5K – $918.0K
NOI $55,081 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with two 2-bedroom units, hardwood floors, gas heat, and off-street parking for up to eight vehicles.
Where is this duplex located?
The property is located at 194 Pavilion Ave Providence, RI.
What is the asking price?
The asking price for this property is $584,000.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1930 with two 2‑bedroom units and 3 full bathrooms total; Hardwood floors and gas heat throughout both units; Paved driveway with off‑street parking for up to 8 vehicles
