Duplex with Private
New
For Sale
$575,000
255 Farmington Avenue, Cranston, RI 02920
Residential Income, Cranston, RI
Property Size2,129 SF
Lot Size0.17 Acres
Price / SF$270.08
Days on Market2
Property Features for 255 Farmington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Basement, Bathroom 2
Parking
9
Window features
Insulated Windows
Patio and Porch features
Porch, Patio
Interior features
Plumbing (Mixed), Insulation (Unknown)
Exterior features
Balcony, Patio, Porch
Basement
Storage Space, Full, Unfinished
Appliances
Dishwasher, Dryer, Range Hood, Microwave, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Laurel Hill
Lot features
Extra Lot, Out Building, Paved Driveway, Sidewalks
Standard status
Active
Size
2,129 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5049
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Steam, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Number of units
2
Flooring type
Laminate, Tile - Ceramic, Hardwood
Building materials
Vinyl Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Michael Russo · License #REB.0018125
(401) 465-0417
Added: Oct 15
Last Checked: Oct 16 at 5:06PM
MLS# 1426151
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,129-square-foot duplex, built in 1920, includes two residential units and a three-car garage on a 0.1653-acre property with an additional lot. The first-floor unit has hardwood flooring, stainless appliances, and access to the full basement, which includes laundry and storage. The upper unit features hardwood floors, a kitchen and bath, and a private balcony. Separate utilities serve the units.
The property is located at 255 Farmington Avenue in Cranston. Exterior features include vinyl siding, a patio, and a porch. Public water and public sewer serve the property.
The property is located at 255 Farmington Avenue in Cranston. Exterior features include vinyl siding, a patio, and a porch. Public water and public sewer serve the property.
Key Highlights
- Two‑unit property with 2,129 square feet of building area
- 0.1653‑acre property includes an additional lot
- Three‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,449
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,980
$709.0K
Cap Rate 7%
$506,414
$506.4K
Cap Rate 9%
$393,878
$393.9K
Market Conditions
NOI Build-Up for 2,129 SF
Gross rent
$54.2K $25.44/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$50.6K $23.79/SF
− OpEx
−$15.2K −$7.14/SF
NOI
$35.4K $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%
$708,980
Cap Rate 7%
$506,414
Cap Rate 9%
$393,878
Alternative Uses
Best Use
Multifamily LT 5
$506.4K
$443.1K – $590.8K
NOI $35,449 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$401.9K
$351.7K – $468.9K
NOI $28,134 @ 7.0% cap · market cap 4.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Explore this area
Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
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
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities serve the two residential units, with a basement assigned to the lower-level unit.
Where is this duplex located?
The property is located at 255 Farmington Avenue Cranston, RI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit property with 2,129 square feet of building area; 0.1653‑acre property includes an additional lot; Three‑car garage
