5-Unit Apartment
New
For Sale
$2,200,000
25 S Court Street, Providence, RI 02906
Five three-bedroom apartments with tenant-paid utilities in Providence’s Brown University and RISD area.
Property Size6,080 SF
Price / SF$361.84
Days on Market4
Property Features for 25 S Court Street
General Information
Standard status
Active
Size
6,080 SF
Property subtype
Commercial
Units
Unit Mix
5 x 3BR
Multifamily Units
5
Building Details
Year Built
1910
Listing Agency:
CENTURY 21 Stachurski Agency
Listed By:
Kathleen Coutu · License #7576
Source:
Onshorerealtors
Added: Sep 7
Last Checked: Sep 10 at 5:18AM
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 Stachurski Agency
Investment Insights
Based on property information with market context.
This Providence multifamily property contains five apartments, with each unit offering three bedrooms and an average size of approximately 1,200 square feet. The building dates to 1910, and residents are responsible for their own utilities, providing a clearly defined utility arrangement across the property.
Located at 25 S Court Street on Providence’s East Side, the property is situated in the Brown University and RISD area. The existing five-unit configuration is complemented by the possibility of creating a sixth apartment, subject to all necessary approvals. Current rents are identified as below market in the property information.
Located at 25 S Court Street on Providence’s East Side, the property is situated in the Brown University and RISD area. The existing five-unit configuration is complemented by the possibility of creating a sixth apartment, subject to all necessary approvals. Current rents are identified as below market in the property information.
Key Highlights
- Five‑unit apartment property at 25 S Court Street, Providence, RI 02906
- Each apartment includes three bedrooms
- Apartments average approximately 1,200 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,218
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,844,360
$1.8M
Cap Rate 7%
$1,317,400
$1.3M
Cap Rate 9%
$1,024,644
$1.0M
Market Conditions
NOI Build-Up for 6,080 SF
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.
Gross rent
$178.8K $29.40/SF
− Vacancy
−$11.1K −$1.82/SF
EGI
$167.7K $27.58/SF
− OpEx
−$75.5K −$12.41/SF
NOI
$92.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,844,360
Cap Rate 7%
$1,317,400
Cap Rate 9%
$1,024,644
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,218 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,386 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
5,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
Median Home Value
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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?
Apartment building - Five three-bedroom apartments with tenant-paid utilities in Providence’s Brown University and RISD area.
Where is this apartment building located?
The property is located at 25 S Court Street Providence, RI.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Five‑unit apartment property at 25 S Court Street, Providence, RI 02906; Each apartment includes three bedrooms; Apartments average approximately 1,200 square feet
