Two-Unit Duplex with
For Sale
$639,900
20 Farm St, Providence, RI 02908
Updated kitchens, private laundry, and finished lower-level space serve both units.
Property Size2,283 SF
Price / SF$280.29
Days on Market47
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Property Features for 20 Farm St
General Information
Standard status
Active
Size
2,283 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
private patio
in-unit laundry
Building Details
Year Built
1938
Buildings
1
Listing Agency:
J. Christopher Real Estate Grp
Listed By:
Lisa Harrison · License #3325
Source:
Alpernandmesenbourg
Added: Aug 30
Changed: Oct 10
Last Checked: Oct 7 at 4:11PM
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 J. Christopher Real Estate Grp
Investment Insights
Based on property information with market context.
This 2,283-square-foot duplex, built in 1938, contains two residential units with two bedrooms per unit. Each side includes an updated kitchen and bathroom, hardwood and tile flooring, and dedicated laundry. A finished lower level adds flexible space for a home office, recreation, guests, or extended household needs.
The property occupies a corner lot at 20 Farm Street in Providence’s Mount Pleasant neighborhood. Exterior features include a private patio, two-car garage, and additional off-street parking for approximately four vehicles. The location provides access to downtown Providence, local bus routes, major roadways, and Providence Station, with MBTA commuter rail and Amtrak service to Boston and other destinations. Several Providence colleges and universities are also nearby.
The property occupies a corner lot at 20 Farm Street in Providence’s Mount Pleasant neighborhood. Exterior features include a private patio, two-car garage, and additional off-street parking for approximately four vehicles. The location provides access to downtown Providence, local bus routes, major roadways, and Providence Station, with MBTA commuter rail and Amtrak service to Boston and other destinations. Several Providence colleges and universities are also nearby.
Key Highlights
- 2,283‑square‑foot duplex with two units
- Two bedrooms in each unit
- Updated kitchens and bathrooms with hardwood and tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,551
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,020
$771.0K
Cap Rate 7%
$550,729
$550.7K
Cap Rate 9%
$428,344
$428.3K
Market Conditions
NOI Build-Up for 2,283 SF
Gross rent
$58.9K $25.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$55.1K $24.12/SF
− OpEx
−$16.5K −$7.24/SF
NOI
$38.6K $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%
$771,020
Cap Rate 7%
$550,729
Cap Rate 9%
$428,344
Alternative Uses
Best Use
Multifamily LT 5
$550.7K
$481.9K – $642.5K
NOI $38,551 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$494.7K
$432.8K – $577.1K
NOI $34,627 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$763.8K
$668.3K – $891.1K
NOI $53,465 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated kitchens, private laundry, and finished lower-level space serve both units.
Where is this duplex located?
The property is located at 20 Farm St Providence, RI.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 2,283‑square‑foot duplex with two units; Two bedrooms in each unit; Updated kitchens and bathrooms with hardwood and tile flooring
