Two-Family Townhouse-Style
241 Pleasant Street Providence, RI 02906
241 Pleasant Street, Providence, RI, 02906
$895,000
For Sale
$895,000
Updated two-family featuring a maintained first-floor apartment and a two-level townhouse-style second unit with in-unit laundry.
Property Size4,662 SF
Price / SF$191.98
Days on Market9
Property Features for 241 Pleasant Street
General Information
- Standard status
- Active
- Size
- 4,662 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing agency
Compass
(401) 274-1644
Listed by
Jonathan Kaufman
Source
Lockandkeyre
Added: Jul 14 Updated: Jul 21 at 4:59AM Checked: Jul 21 at 4:59AM
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 Compass
Investment Insights
Based on property information with market context.
241 Pleasant Street in Providence, RI 02906 offers a well-updated two-family configuration with an extensively improved interior and building systems. The first floor is a maintained apartment, while the expansive second unit is townhouse style and spans two levels. The overall layout includes six bedrooms and two full bathrooms, and both units include in-unit laundry.
Updates called out include new plumbing, electrical, siding, and full lead compliance, supporting a turnkey ownership experience. The property is described as being just moments from Hope Village and the Hope Street Farmers Market, with neighborhood cafés, restaurants, and local shops nearby.
The owner remarks also note a projected cap rate in excess of 7%, positioning this duplex as an option for buyers seeking both residence flexibility and income potential.
Updates called out include new plumbing, electrical, siding, and full lead compliance, supporting a turnkey ownership experience. The property is described as being just moments from Hope Village and the Hope Street Farmers Market, with neighborhood cafés, restaurants, and local shops nearby.
The owner remarks also note a projected cap rate in excess of 7%, positioning this duplex as an option for buyers seeking both residence flexibility and income potential.
Key Highlights
- Two‑family built in 1930 with an updated first‑floor apartment and a two‑level townhouse‑style second unit
- Six bedrooms and two full bathrooms total, with the second unit spanning two levels
- In‑unit laundry included
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 | $120.3k | $25.80 |
| − Vacancy | −$7.8k | −$1.68 |
| EGI | $112.5k | $24.12 |
| − OpEx | −$33.7k | −$7.24 |
| NOI | $78.7k | $16.89 |
4,662 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$984.0K – $1.31M
NOI $78,723 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$1.01M
$883.9K – $1.18M
NOI $70,711 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,179 @ 7.0% cap · market cap 12.20%
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 - Updated two-family featuring a maintained first-floor apartment and a two-level townhouse-style second unit with in-unit laundry.
Where is this duplex located?
The property is located at 241 Pleasant Street Providence, RI.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two‑family built in 1930 with an updated first‑floor apartment and a two‑level townhouse‑style second unit; Six bedrooms and two full bathrooms total, with the second unit spanning two levels; In‑unit laundry included
