Updated Two-Family
275 Carpenter Street, Providence, RI 02909
For Sale
$550,000
Residential Income, Providence, RI
Property Size1,968 SF
Lot Size0.10 Acres
Price / SF$279.47
Days on Market97
Property Features for 275 Carpenter Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Interior features
Basement
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Amenities
in-unit washer and dryer
off-street parking
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Listing Agency:
Westcott Properties
Listed By:
Melissa Riley · License RI RES.0033799
(401) 421-5300
Added: Aug 10
Changed: Oct 28
Last Checked: Nov 14 at 12:06AM
MLS# 1420269
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 duplex contains 1,968 square feet on a 0.1029-acre lot, with two residential units offering 1–2 bedrooms each. Both units include a kitchen, living area, full bathroom, and in-unit washer and dryer. Recent renovations, hardwood flooring, vinyl siding, and natural-gas baseboard heat are among the property’s documented features. The building dates to 1900 and includes a basement.
Off-street parking serves the property. The West Side setting places the duplex near restaurants, cafés, nightlife, shopping, and local attractions, with access to downtown Providence and major highways. Its two-unit configuration and separate in-unit laundry support residential occupancy and flexible ownership use.
Off-street parking serves the property. The West Side setting places the duplex near restaurants, cafés, nightlife, shopping, and local attractions, with access to downtown Providence and major highways. Its two-unit configuration and separate in-unit laundry support residential occupancy and flexible ownership use.
Key Highlights
- Two‑family duplex with 1,968 square feet
- Lot size of 0.1029 acres
- Each unit includes 1–2 bedrooms, 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
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
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
$283,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Providence, RI
Properties on Market for Duplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer kitchens, living areas, full baths, and private laundry.
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: Two‑family duplex with 1,968 square feet; Lot size of 0.1029 acres; Each unit includes 1–2 bedrooms, a kitchen, living area, and full bathroom
