Corner-Lot Duplex With
For Sale
$699,900
221 Warren Ave, East Providence, RI 02914
Two residential units feature updated kitchens, walk-in pantries, and dedicated living and dining areas.
Property Size3,466 SF
Price / SF$201.93
Days on Market53
Property Features for 221 Warren Ave
General Information
Standard status
Active
Size
3,466 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
The Network
Listed By:
Bill Duquette · License #RES.0031461
(401) 258-6826
Source:
Alpernandmesenbourg
Added: Aug 20
Changed: Oct 6
Last Checked: Oct 7 at 12:59PM
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 The Network
Investment Insights
Based on property information with market context.
Built in 1900, this duplex at 221 Warren Avenue includes two residential units, a finished lower level, and a detached 2-car garage on a corner lot. The property has commercial/residential zoning and abundant natural light throughout.
The first unit offers a living room, dining area, dedicated laundry room, updated fully applianced kitchen, and walk-in pantry. The second includes a double parlor, 2 bedrooms, full bath, updated fully applianced kitchen, walk-in pantry, and two points of egress. Finished lower-level space adds a kitchen, bedroom, bathroom, and living room. The lower level may be considered for an in-law arrangement or conversion to a legal 3rd unit, subject to municipal approvals and zoning.
The first unit offers a living room, dining area, dedicated laundry room, updated fully applianced kitchen, and walk-in pantry. The second includes a double parlor, 2 bedrooms, full bath, updated fully applianced kitchen, walk-in pantry, and two points of egress. Finished lower-level space adds a kitchen, bedroom, bathroom, and living room. The lower level may be considered for an in-law arrangement or conversion to a legal 3rd unit, subject to municipal approvals and zoning.
Key Highlights
- Duplex on a corner lot with commercial/residential zoning
- Detached 2‑car garage
- Unit 1 includes dedicated laundry room and walk‑in pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,711
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,220
$1.2M
Cap Rate 7%
$824,443
$824.4K
Cap Rate 9%
$641,233
$641.2K
Market Conditions
NOI Build-Up for 3,466 SF
Gross rent
$88.2K $25.44/SF
− Vacancy
−$5.7K −$1.65/SF
EGI
$82.4K $23.79/SF
− OpEx
−$24.7K −$7.14/SF
NOI
$57.7K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,154,220
Cap Rate 7%
$824,443
Cap Rate 9%
$641,233
Alternative Uses
Best Use
Multifamily LT 5
$824.4K
$721.4K – $961.9K
NOI $57,711 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$654.3K
$572.5K – $763.4K
NOI $45,802 @ 7.0% cap · market cap 6.54%
Theoretical Best
—
—
same as Best Use
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
1,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
Median Home Value
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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?
Duplex - Two residential units feature updated kitchens, walk-in pantries, and dedicated living and dining areas.
Where is this duplex located?
The property is located at 221 Warren Ave East Providence, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Duplex on a corner lot with commercial/residential zoning; Detached 2‑car garage; Unit 1 includes dedicated laundry room and walk‑in pantry
