Two-Unit Duplex with Hardwood
New
For Sale
$487,000
218 Lynch Street, Providence, RI 02908
Separate units offer individual yard areas, parking, and hardwood flooring throughout.
Property Size2,656 SF
Price / SF$183.36
Days on Market3
Property Features for 218 Lynch Street
General Information
Standard status
Active
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) 536-1620
Listed By:
Shirley Charles · License #RES.0043414
(401) 536-1620
Source:
Lockandkeyre
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 2:27PM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,285
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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
