New Construction Multifamily
New
For Sale
$759,000
219 Indiana Ave, Providence, RI 02905
Four-bedroom units with two full bathrooms offer a contemporary open-plan layout.
Property Size2,400 SF
Price / SF$316.25
Days on Market6
Property Features for 219 Indiana Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
Bani Properties
Listed By:
Basty Ortiz · License #REB.0017187
(401) 781-8600
Source:
Rhodeislandhomesforsale
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 5 at 7:05PM
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 Bani Properties
Investment Insights
Based on property information with market context.
Newly constructed multifamily property with units configured for four bedrooms and two full bathrooms. Each residence has an open-plan interior layout.
The property is located in Washington Park at 219 Indiana Avenue, Providence, Rhode Island. Construction is listed for 2026.
The property is located in Washington Park at 219 Indiana Avenue, Providence, Rhode Island. Construction is listed for 2026.
Key Highlights
- New construction with a 2026 year built
- Each unit includes 4 bedrooms and 2 full baths
- Open‑plan layout in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,402
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$728,040
$728.0K
Cap Rate 7%
$520,029
$520.0K
Cap Rate 9%
$404,467
$404.5K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$70.6K $29.40/SF
− Vacancy
−$4.4K −$1.82/SF
EGI
$66.2K $27.58/SF
− OpEx
−$29.8K −$12.41/SF
NOI
$36.4K $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%
$728,040
Cap Rate 7%
$520,029
Cap Rate 9%
$404,467
Alternative Uses
Best Use
Apartment 5plus
$520.0K
$455.0K – $606.7K
NOI $36,402 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$802.9K
$702.6K – $936.8K
NOI $56,205 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
818
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four-bedroom units with two full bathrooms offer a contemporary open-plan layout.
Where is this multifamily property located?
The property is located at 219 Indiana Ave Providence, RI.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: New construction with a 2026 year built; Each unit includes 4 bedrooms and 2 full baths; Open‑plan layout in each unit
