Two-Family Residential Income
227 Roosevelt Street Providence, RI 02909
227 Roosevelt Street, Providence, RI, 02909
$660,000
For Sale
$660,000
Built in 1910, this two-family home offers 6 bedrooms, 2 bathrooms, a full basement, and a detached two-car garage.
Property Size2,768 SF
Price / SF$238.44
Days on Market48
Property Features for 227 Roosevelt Street
General Information
- Standard status
- Active
- Size
- 2,768 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
The Network
(401) 467-3303
Listed by
Braulio Diaz
Source
Milburyre
Added: Jun 6 Updated: Jul 22 at 11:49PM Checked: Jul 22 at 11:49PM
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 1910, this spacious two-family property at 227 Roosevelt Street offers approximately 2,768 square feet of living space with 6 bedrooms and 2 bathrooms. The home includes a full basement for additional storage, gas heating, and a detached two-car garage.
Located in Providence’s Silver Lake neighborhood, the property is described as being near schools, shopping, restaurants, parks, major highways, and downtown Providence. The layout is suited to tenants or owner-occupants looking for flexibility between units within a classic multi-family structure.
Located in Providence’s Silver Lake neighborhood, the property is described as being near schools, shopping, restaurants, parks, major highways, and downtown Providence. The layout is suited to tenants or owner-occupants looking for flexibility between units within a classic multi-family structure.
Key Highlights
- Built in 1910, this two‑family home offers approx. 2,768 SF of living space.
- Features 6 bedrooms and 2 bathrooms total across the two‑family layout.
- Includes a full basement for additional storage.
Local 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 | $71.4k | $25.80 |
| − Vacancy | −$4.6k | −$1.68 |
| EGI | $66.8k | $24.12 |
| − OpEx | −$20.0k | −$7.24 |
| NOI | $46.7k | $16.89 |
2,768 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$667.7K
$584.3K – $779.0K
NOI $46,741 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$599.8K
$524.8K – $699.7K
NOI $41,984 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$926.0K
$810.3K – $1.08M
NOI $64,823 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Built in 1910, this two-family home offers 6 bedrooms, 2 bathrooms, a full basement, and a detached two-car garage.
Where is this duplex located?
The property is located at 227 Roosevelt Street Providence, RI.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Built in 1910, this two‑family home offers approx. 2,768 SF of living space.; Features 6 bedrooms and 2 bathrooms total across the two‑family layout.; Includes a full basement for additional storage.
