Two-Unit Residential Income
31 Sibley Street Providence, RI 02907
New
For Sale
$549,900
MULTI_FAMILY - Providence, RI
Property Size2,654 SF
Lot Size0.07 Acres
Price / SF$207.20
Days on Market4
Property Features for 31 Sibley Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 7, Bedroom 5, Bedroom 8, Bathroom 3, Bedroom 10, Bedroom 6, Basement, Bedroom 4, Bedroom 2, Bedroom 9
- Parking
- 2
- Parking features
- None
- Interior features
- Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Copper), Plumbing (Mixed), Insulation (Walls)
- Basement
- Full, Unfinished, Storage Space
- Standard status
- Active
- Size
- 2,654 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3936
Utilities
- Heating system
- Forced Air, Natural Gas
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Tile - Ceramic, Hardwood
- Building materials
- Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Steve Eccleston
(401) 487-2100
Added: Jul 24
Changed: Jul 26
Last Checked: Jul 27 at 7:06AM
MLS# 1418802
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.
This two-family duplex offers a value-add layout with two separate residential units and separate utilities. The first unit features 3 bedrooms and 1 bathroom. The second unit is arranged over two floors and includes up to 7 bedrooms and 2 bathrooms.
Interior finishes referenced in the remarks include granite countertops in the kitchens, tile baths, hardwood flooring, and other types of wood flooring.
The property is offered for sale as a residential income opportunity, positioned for an investor or owner-occupant to refresh and update the home. It is described as conveniently located near downtown Providence, highways, shopping, and restaurants.
Interior finishes referenced in the remarks include granite countertops in the kitchens, tile baths, hardwood flooring, and other types of wood flooring.
The property is offered for sale as a residential income opportunity, positioned for an investor or owner-occupant to refresh and update the home. It is described as conveniently located near downtown Providence, highways, shopping, and restaurants.
Key Highlights
- 1920‑built 2‑family home with separate utilities and two distinct living layouts
- Unit 1 features 3 bedrooms and 1 bathroom
- Unit 2 spans 2 floors with up to 7 bedrooms and 2 bathrooms
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 | $68.5k | $25.80 |
| − Vacancy | −$4.5k | −$1.68 |
| EGI | $64.0k | $24.12 |
| − OpEx | −$19.2k | −$7.24 |
| NOI | $44.8k | $16.89 |
2,654 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$640.2K
$560.2K – $746.9K
NOI $44,816 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$575.1K
$503.2K – $670.9K
NOI $40,254 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$887.9K
$776.9K – $1.04M
NOI $62,154 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-family home with separate utilities and multiple bedroom/bath configurations across two units.
Where is this duplex located?
The property is located at 31 Sibley Street Providence, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1920‑built 2‑family home with separate utilities and two distinct living layouts; Unit 1 features 3 bedrooms and 1 bathroom; Unit 2 spans 2 floors with up to 7 bedrooms and 2 bathrooms
