Updated
For Sale
$550,000
275 Carpenter Street, Providence, RI 02909
Two residential units provide private laundry, full bathrooms, functional kitchens, and off-street parking.
Property Size1,968 SF
Price / SF$279.47
Days on Market66
Property Features for 275 Carpenter Street
General Information
Standard status
Active
Size
1,968 SF
Property subtype
MultiFamily
Building Details
Year Built
1900
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
Melissa Riley · License #RES.0033799
Source:
Lockandkeyre
Added: Aug 10
Changed: Oct 13
Last Checked: Oct 12 at 8:05PM
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 Westcott Properties
Investment Insights
Based on property information with market context.
This duplex contains 1,968 square feet across two residential units, with each unit offering a kitchen, living area, full bathroom, and in-unit washer and dryer. Recent renovation work has refreshed the interiors, while the property dates to 1900 and includes off-street parking.
Located on Carpenter Street in Providence’s West Side, the property is near restaurants, cafés, nightlife, shopping, and local attractions. Downtown Providence and major highways are also conveniently accessible, supporting both residential occupancy and access to the broader city.
Located on Carpenter Street in Providence’s West Side, the property is near restaurants, cafés, nightlife, shopping, and local attractions. Downtown Providence and major highways are also conveniently accessible, supporting both residential occupancy and access to the broader city.
Key Highlights
- Duplex with 1,968 SF across two residential units
- Recent renovations refresh both units
- Each unit includes a kitchen, living area, and full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,232
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,640
$664.6K
Cap Rate 7%
$474,743
$474.7K
Cap Rate 9%
$369,244
$369.2K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$50.8K $25.80/SF
− Vacancy
−$3.3K −$1.68/SF
EGI
$47.5K $24.12/SF
− OpEx
−$14.2K −$7.24/SF
NOI
$33.2K $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%
$664,640
Cap Rate 7%
$474,743
Cap Rate 9%
$369,244
Alternative Uses
Best Use
Multifamily LT 5
$474.7K
$415.4K – $553.9K
NOI $33,232 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$426.4K
$373.1K – $497.5K
NOI $29,850 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$658.4K
$576.1K – $768.1K
NOI $46,088 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
2,297
Businesses Nearby
Explore this area
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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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?
Duplex - Two residential units provide private laundry, full bathrooms, functional kitchens, and off-street parking.
Where is this duplex located?
The property is located at 275 Carpenter Street Providence, RI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex with 1,968 SF across two residential units; Recent renovations refresh both units; Each unit includes a kitchen, living area, and full bathroom
