Updated Duplex with Two-Car
For Sale
$529,900
3113 Pawtucket Avenue, East Providence, RI 02915
Townhouse-style residences offer private basement laundry areas, refreshed interiors, and a shared backyard.
Property Size2,148 SF
Price / SF$246.69
Days on Market8
Property Features for 3113 Pawtucket Avenue
General Information
Standard status
Active
Size
2,148 SF
Total Parking Spaces
2
Property subtype
Multifamily
Amenities
hardwood floors
replacement windows
updated kitchens and baths
separate laundry for each unit in each basement
nice back yard
Building Details
Year Built
1923
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(401) 351-2017
Listed By:
Debbie Gold
Source:
Lockandkeyre
Added: Jul 31
Changed: Aug 3
Last Checked: Aug 7 at 1:21AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1923-built duplex contains two townhouse-style residences with 2,148 square feet of property size. Interior features include hardwood flooring, replacement windows, and updated kitchen and bathroom areas. Each unit has its own laundry setup located in the basement, providing functional separation between households.
The property also includes a backyard and a two-car garage. A roof replacement completed 5 years ago adds a recent major building improvement. Located at 3113 Pawtucket Avenue in East Providence, RI 02915, the property combines a residential duplex layout with several updated components.
The property also includes a backyard and a two-car garage. A roof replacement completed 5 years ago adds a recent major building improvement. Located at 3113 Pawtucket Avenue in East Providence, RI 02915, the property combines a residential duplex layout with several updated components.
Key Highlights
- Townhouse‑style duplex configuration
- 2,148 square feet of property size
- Hardwood floors and replacement windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,765
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$715,300
$715.3K
Cap Rate 7%
$510,929
$510.9K
Cap Rate 9%
$397,389
$397.4K
Market Conditions
NOI Build-Up for 2,148 SF
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.
Gross rent
$54.6K $25.44/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$51.1K $23.79/SF
− OpEx
−$15.3K −$7.14/SF
NOI
$35.8K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$715,300
Cap Rate 7%
$510,929
Cap Rate 9%
$397,389
Alternative Uses
Best Use
Multifamily LT 5
$510.9K
$447.1K – $596.1K
NOI $35,765 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$405.5K
$354.8K – $473.1K
NOI $28,385 @ 7.0% cap · market cap 5.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 02915, RI
16,603
Population
7,746
Households
2.1
Avg Household Size
47
Median Age
36%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
3,019
Density / Sq Mi
$90,558
Median Household Income
$61,062
Median Earnings
$1,482
Median Rent
$317,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Townhouse-style residences offer private basement laundry areas, refreshed interiors, and a shared backyard.
Where is this duplex located?
The property is located at 3113 Pawtucket Avenue East Providence, RI.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: Townhouse‑style duplex configuration; 2,148 square feet of property size; Hardwood floors and replacement windows
