Two-Unit Duplex with Hardwood
For Sale
$487,000
Pending
218 Lynch Street, Providence, RI 02908
Separate units offer individual yard areas, parking, and hardwood flooring throughout.
Property Size2,656 SF
Days on Market51
Property Features for 218 Lynch Street
General Information
Standard status
Pending
Size
2,656 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Amenities
yard area
Building Details
Year Built
1940
Listing Agency:
Fab Living
(401) 648-2999
Listed By:
Shirley Charles · License #RES.0043414
(401) 536-1620
Source:
Lockandkeyre
Added: Aug 29
Changed: Oct 16
Last Checked: Oct 16 at 8:40AM
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 Fab Living
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Investment Insights
Based on property information with market context.
This 2,656-square-foot duplex, built in 1940, provides a two-unit residential layout with hardwood flooring throughout. Each unit includes its own yard area, while the property also offers ample parking for occupants and guests.
Located at 218 Lynch Street in Providence, the property is being offered as-is. The configuration supports both separate unit occupancy and ownership of a two-family residential asset.
Located at 218 Lynch Street in Providence, the property is being offered as-is. The configuration supports both separate unit occupancy and ownership of a two-family residential asset.
Key Highlights
- 2,656‑square‑foot duplex with two residential units
- Built in 1940
- Each unit has its own yard area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,285
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,700
$805.7K
Cap Rate 7%
$575,500
$575.5K
Cap Rate 9%
$447,611
$447.6K
Market Conditions
NOI Build-Up for 2,656 SF
Gross rent
$78.1K $29.40/SF
− Vacancy
−$4.8K −$1.82/SF
EGI
$73.2K $27.58/SF
− OpEx
−$33.0K −$12.41/SF
NOI
$40.3K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,700
Cap Rate 7%
$575,500
Cap Rate 9%
$447,611
Alternative Uses
Best Use
Multifamily LT 5
$640.7K
$560.6K – $747.5K
NOI $44,849 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$575.5K
$503.6K – $671.4K
NOI $40,285 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$888.6K
$777.5K – $1.04M
NOI $62,200 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
650
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate units offer individual yard areas, parking, and hardwood flooring throughout.
Where is this duplex located?
The property is located at 218 Lynch Street Providence, RI.
What is the asking price?
The asking price for this property is $487,000.
What are key features of this property?
This property features: 2,656‑square‑foot duplex with two residential units; Built in 1940; Each unit has its own yard area
