Duplex with Private Fenced
298 Grosvenor Avenue, East Providence, RI 02914
For Sale
$599,000
Pending
The left residence has a renovated kitchen, while the other includes two additional basement rooms.
Property Size3,674 SF
Days on Market32
Property Features for 298 Grosvenor Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Sunstone Real Estate Group
Listed By:
Jazz Napolitano · License RI REB.0018413
(401) 225-7070
Source:
Lockandkeyre
Added: Oct 14
Changed: Nov 12
Last Checked: Nov 12 at 8:38AM
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 Sunstone Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1989, this duplex contains two residences and 3,674 square feet. Improvements include a newer roof, replacement windows and hardwood flooring throughout. The left unit has undergone renovation, with an updated kitchen and stainless-steel appliances. Both residences have gas heating and gas cooking, along with oversized bedrooms and ample closet space. The right unit also includes two bonus rooms in the basement.
A fence divides the backyard to provide separate outdoor areas for each residence, adding private exterior space to the two-unit layout.
A fence divides the backyard to provide separate outdoor areas for each residence, adding private exterior space to the two-unit layout.
Key Highlights
- 3,674‑square‑foot duplex built in 1989
- Renovated left unit with updated kitchen and stainless‑steel appliances
- Newer roof, newer windows and hardwood flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,550
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,000
$971.0K
Cap Rate 7%
$693,571
$693.6K
Cap Rate 9%
$539,444
$539.4K
Market Conditions
NOI Build-Up for 3,674 SF
Gross rent
$93.9K $25.56/SF
− Vacancy
−$5.6K −$1.53/SF
EGI
$88.3K $24.03/SF
− OpEx
−$39.7K −$10.81/SF
NOI
$48.6K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,000
Cap Rate 7%
$693,571
Cap Rate 9%
$539,444
Alternative Uses
Best Use
Multifamily LT 5
$873.9K
$764.7K – $1.02M
NOI $61,174 @ 7.0% cap · market cap 10.21%
Second Best
Apartment 5plus
$693.6K
$606.9K – $809.2K
NOI $48,550 @ 7.0% cap · market cap 8.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,183
Businesses Nearby
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Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in East Providence, RI
Properties on Market for Duplexes in East Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The left residence has a renovated kitchen, while the other includes two additional basement rooms.
Where is this duplex located?
The property is located at 298 Grosvenor Avenue East Providence, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 3,674‑square‑foot duplex built in 1989; Renovated left unit with updated kitchen and stainless‑steel appliances; Newer roof, newer windows and hardwood flooring throughout
