Two-Unit Residential Income
268 Alabama Avenue Providence, RI 02905
268 Alabama Avenue, Providence, RI, 02905
$450,000
Pending
For Sale
$450,000
Pending
MULTI_FAMILY - Providence, RI
Property Size2,365 SF
Lot Size0.10 Acres
Days on Market51
Property Features for 268 Alabama Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 02
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Basement, Bedroom 4, Bedroom 1, Bedroom 2
- Parking
- 6
- Interior features
- Plumbing (Mixed), Insulation (Cap)
- Basement
- Full, Finished
- Appliances
- Gas Water Heater, Dryer, Oven/Range, Refrigerator, Washer
- Standard status
- Pending
- Size
- 2,365 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3457
Utilities
- Heating system
- Natural Gas, Central, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1935
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Hardwood, Vinyl, Tile - Ceramic
- Building materials
- Vinyl Siding
Listing Agency
Re/Max One
(401) 943-6111
980 Reservoir Avenue, cranstone, RI
Listed by
Marco Harrington
(860) 235-1642
Added: May 27 Checked: Jul 16 at 5:06 pm
MLS# 1412989
Listing URL
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.
Investment Insights
Based on property information with market context.
Two-family residential income property featuring a 3-bedroom unit and a 2-bedroom unit. The home also includes a fully finished basement with three additional bedrooms and two additional bathrooms, providing extra living space beyond the main units. Central air conditioning is included, and the property has a detached two-car garage for parking and storage.
The address is 268 Alabama Avenue in Providence, Rhode Island (02905). Public remarks note proximity to local colleges, major highways, shopping, dining, and other city conveniences.
Recent upgrades include a brand-new roof and newly installed water heaters, adding value through deferred maintenance. The property is offered for sale as a duplex/multifamily investment or owner-occupant residence.
The address is 268 Alabama Avenue in Providence, Rhode Island (02905). Public remarks note proximity to local colleges, major highways, shopping, dining, and other city conveniences.
Recent upgrades include a brand-new roof and newly installed water heaters, adding value through deferred maintenance. The property is offered for sale as a duplex/multifamily investment or owner-occupant residence.
Key Highlights
- 2‑family home built in 1935 with two separate unit layouts: a 3‑bedroom unit and a 2‑bedroom unit
- Fully finished basement with 3 additional bedrooms and 2 additional bathrooms for flexible living or extra space
- Central air conditioning and forced‑air natural gas heating for year‑round comfort
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 | $61.0k | $25.80 |
| − Vacancy | −$4.0k | −$1.68 |
| EGI | $57.1k | $24.12 |
| − OpEx | −$17.1k | −$7.24 |
| NOI | $39.9k | $16.89 |
2,365 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$570.5K
$499.2K – $665.6K
NOI $39,936 @ 7.0% cap · market cap 8.87%
Second Best
Apartment 5plus
$512.4K
$448.4K – $597.9K
NOI $35,871 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$791.2K
$692.3K – $923.1K
NOI $55,385 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with central air, a finished basement, and a detached two-car garage.
Where is this duplex located?
The property is located at 268 Alabama Avenue Providence, RI.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2‑family home built in 1935 with two separate unit layouts: a 3‑bedroom unit and a 2‑bedroom unit; Fully finished basement with 3 additional bedrooms and 2 additional bathrooms for flexible living or extra space; Central air conditioning and forced‑air natural gas heating for year‑round comfort
