Two-Unit Residential Income
217 Pontiac Avenue Cranston, RI 02910
For Sale
$479,900
Pending
Two-family home features two 2-bedroom, 1-bath units, plus a porch, driveway parking, and detached two-car garage.
Property Size1,743 SF
Days on Market22
Property Features for 217 Pontiac Avenue
General Information
Standard status
Pending
Size
1,743 SF
Property subtype
Multifamily
Building Details
Year Built
1928
Listing Agency:
Century 21 Signature Prop.
(508) 999-4541
Listed By:
Eddie Veiga
Source:
Lockandkeyre
Added: Jul 9
Changed: Jul 27
Last Checked: Jul 30 at 6:08AM
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 Century 21 Signature Prop.
Investment Insights
Based on property information with market context.
This two-family residential income property includes two separate units, each offering two bedrooms and one full bathroom. The home features a welcoming front porch and driveway parking, and it is complemented by a detached two-car garage.
The property is located in Cranston’s Auburn neighborhood near Rolfe Square, Park Ave, and Reservoir Ave, with access to local shops, restaurants, public transportation, and everyday amenities.
Being sold as-is, the property presents an opportunity for an owner-occupant or investor seeking a multi-family with the ability to add value with some TLC.
The property is located in Cranston’s Auburn neighborhood near Rolfe Square, Park Ave, and Reservoir Ave, with access to local shops, restaurants, public transportation, and everyday amenities.
Being sold as-is, the property presents an opportunity for an owner-occupant or investor seeking a multi-family with the ability to add value with some TLC.
Key Highlights
- 2‑family home built in 1928 in Cranston’s Auburn neighborhood
- Two units total: each offers 2 bedrooms and 1 full bathroom
- Front porch plus driveway parking
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 | $44.3k | $25.44 |
| − Vacancy | −$2.9k | −$1.65 |
| EGI | $41.5k | $23.79 |
| − OpEx | −$12.4k | −$7.14 |
| NOI | $29.0k | $16.65 |
1,743 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$414.6K
$362.8K – $483.7K
NOI $29,022 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$329.0K
$287.9K – $383.9K
NOI $23,033 @ 7.0% cap · market cap 4.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home features two 2-bedroom, 1-bath units, plus a porch, driveway parking, and detached two-car garage.
Where is this duplex located?
The property is located at 217 Pontiac Avenue Cranston, RI.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 2‑family home built in 1928 in Cranston’s Auburn neighborhood; Two units total: each offers 2 bedrooms and 1 full bathroom; Front porch plus driveway parking
