Two-Unit Duplex with
New
For Sale
$708,000
230 Unit Street, Providence, RI 02909
The upper residence spans two floors, while the property also offers a yard and substantial off-street parking.
Property Size1,876 SF
Price / SF$377.40
Days on Market6
Property Features for 230 Unit Street
General Information
Standard status
Active
Size
1,876 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Amenities
city views
spacious yard
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Century 21 Envoy
(401) 681-8738
Listed By:
Sherri Maestas · License #RES.0047659
(401) 226-8304
Source:
Lockandkeyre
Added: Oct 17
Changed: Oct 21
Last Checked: Oct 20 at 9:51PM
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 Century 21 Envoy
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Investment Insights
Based on property information with market context.
This 1,876-square-foot duplex, built in 1900, contains two residences. The upper home occupies the second and third floors in a townhouse-style layout. Interiors include an open floor plan, hardwood flooring, and updated finishes. The property also has new Navien heating systems and lead certificates.
Outdoor and parking features include a yard, an oversized two-car garage, and off-street parking for up to eight vehicles. City views are part of the setting.
The property is in Providence’s Mount Pleasant neighborhood, near Rhode Island College and Elmhurst.
Outdoor and parking features include a yard, an oversized two-car garage, and off-street parking for up to eight vehicles. City views are part of the setting.
The property is in Providence’s Mount Pleasant neighborhood, near Rhode Island College and Elmhurst.
Key Highlights
- Two‑family property with 1,876 square feet
- Built in 1900
- Townhouse‑style second residence spans the second and third floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,678
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,560
$633.6K
Cap Rate 7%
$452,543
$452.5K
Cap Rate 9%
$351,978
$352.0K
Market Conditions
NOI Build-Up for 1,876 SF
Gross rent
$48.4K $25.80/SF
− Vacancy
−$3.1K −$1.68/SF
EGI
$45.3K $24.12/SF
− OpEx
−$13.6K −$7.24/SF
NOI
$31.7K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,560
Cap Rate 7%
$452,543
Cap Rate 9%
$351,978
Alternative Uses
Best Use
Multifamily LT 5
$452.5K
$396.0K – $528.0K
NOI $31,678 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$406.5K
$355.7K – $474.2K
NOI $28,454 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$627.6K
$549.2K – $732.2K
NOI $43,934 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
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Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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 - The upper residence spans two floors, while the property also offers a yard and substantial off-street parking.
Where is this duplex located?
The property is located at 230 Unit Street Providence, RI.
What is the asking price?
The asking price for this property is $708,000.
What are key features of this property?
This property features: Two‑family property with 1,876 square feet; Built in 1900; Townhouse‑style second residence spans the second and third floors
