Two-Unit Residential Income
194 Pavilion Avenue Providence, RI 02905
194 Pavilion Avenue, Providence, RI, 02905
$584,000
For Sale
$584,000
MULTI_FAMILY - Providence, RI
Property Size2,352 SF
Lot Size0.09 Acres
Price / SF$248.30
Days on Market21
Property Features for 194 Pavilion Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 2, Basement, Bedroom 3
- Parking
- 8
- Interior features
- Wall (Plaster), Insulation (Unknown)
- Basement
- Full, Unfinished
- Appliances
- Gas Water Heater
- Standard status
- Active
- Size
- 2,352 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2946
Utilities
- Heating system
- Forced Air, Baseboard, Natural Gas
Building Details
- Year built
- 1930
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Hardwood
- Building materials
- Plaster, Vinyl Siding
Listing agency
Circle 100 Real Estate
(401) 336-6083
Listed by
Lissette Guzman · License #RES.0042951
(401) 300-0833
Added: Jul 1 Updated: Jul 19 at 1:26AM Checked: Jul 21 at 7:06PM
MLS# 1416818
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 well-maintained two-family residential income property features two spacious units. Each unit offers 2 bedrooms and 1 full bathroom, with a total of 4 bedrooms and 3 full bathrooms across the property. Interior finishes include hardwood floors, and the home is heated with gas heat. The property includes a fenced yard and a paved driveway providing parking for up to 8 vehicles.
Additional mechanical updates include two newer boilers installed approximately 2 years ago, and water tanks that were replaced in May 2026. The property also has leased solar panels with an approximate monthly payment of $190 (about $189 noted), described as assumable. The listing indicates the home is back on the market due to the buyer’s financing.
The units are configured as separate 2-bedroom, 1-bath layouts within a single two-family structure, supported by the recent boiler and water tank improvements and a driveway and yard suitable for day-to-day use.
Additional mechanical updates include two newer boilers installed approximately 2 years ago, and water tanks that were replaced in May 2026. The property also has leased solar panels with an approximate monthly payment of $190 (about $189 noted), described as assumable. The listing indicates the home is back on the market due to the buyer’s financing.
The units are configured as separate 2-bedroom, 1-bath layouts within a single two-family structure, supported by the recent boiler and water tank improvements and a driveway and yard suitable for day-to-day use.
Key Highlights
- Two‑family property with 4 bedrooms and 3 full bathrooms total, split into two units with 2 beds and 1 full bath each
- Hardwood flooring and gas heating with natural gas, forced air, and baseboard systems
- Two newer boilers installed approximately 2 years ago
Local 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 | $60.7k | $25.80 |
| − Vacancy | −$3.9k | −$1.68 |
| EGI | $56.7k | $24.12 |
| − OpEx | −$17.0k | −$7.24 |
| NOI | $39.7k | $16.89 |
2,352 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with hardwood floors, gas heat, fenced yard, and driveway parking for up to eight vehicles.
Where is this duplex located?
The property is located at 194 Pavilion Avenue 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: Two‑family property with 4 bedrooms and 3 full bathrooms total, split into two units with 2 beds and 1 full bath each; Hardwood flooring and gas heating with natural gas, forced air, and baseboard systems; Two newer boilers installed approximately 2 years ago
