Under-Construction Duplex with Attic
For Sale
Under Contract
$729,900
32 Pumgansett Street, Providence, RI 02908
Residential Income, Providence, RI
Property Size2,400 SF
Lot Size0.09 Acres
Price / SF$304.13
Days on Market57
Property Features for 32 Pumgansett Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R3
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 7, Bathroom 4, Bathroom 3, Basement, Bedroom 1, Bedroom 8
Parking features
None
Window features
Storm Window(s)
Interior features
Wall (Dry Wall), Wall (Plaster), Attic Storage, Cathedral Ceilings, Stairs, Plumbing (Copper), Plumbing (Mixed), Plumbing (PEX), Plumbing (PVC), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Basement
Unfinished, Full
Appliances
Dishwasher, Exhaust Fan, Electric Water Heater
Subdivision
Providence College
Standard status
Active Under Contract
Size
2,400 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1866
Utilities
Utilities
Water Available
Heating system
Natural Gas, Central, Forced Air
Cooling system
Ductless, Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Plaster, Shingles, Vinyl Siding
Additional Structures
Storage
Listing Agency:
Real Broker, Llc
(855) 450-0442
Listed By:
Joel Sanchez · License #RES.0034695
(401) 654-3573
Added: Aug 19
Changed: Sep 26
Last Checked: Oct 14 at 3:06PM
MLS# 1421035
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 under-construction duplex contains 2,400 square feet across two residential units. Each unit is planned with 4 bedrooms and 2 full bathrooms, along with modern kitchens, contemporary bathrooms, hardwood and ceramic tile flooring, and forced-air natural-gas heating. Cooling includes ductless systems and central air. The second-floor residence has cathedral ceilings and attic expansion potential, while the open basement is roughed for a potential ADU.
The property occupies 0.09 acres in Providence, near Providence College and the city’s broader amenities. It is zoned R3, served by public water, and includes water availability. Parking features are listed as none. Construction materials include vinyl siding and shingles, with drywall and plaster interior finishes.
The property occupies 0.09 acres in Providence, near Providence College and the city’s broader amenities. It is zoned R3, served by public water, and includes water availability. Parking features are listed as none. Construction materials include vinyl siding and shingles, with drywall and plaster interior finishes.
Key Highlights
- Two‑unit duplex with 2,400 square feet of total property size
- Each unit includes 4 bedrooms and 2 full bathrooms
- Second‑floor unit features cathedral ceilings and attic expansion potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,527
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,540
$810.5K
Cap Rate 7%
$578,957
$579.0K
Cap Rate 9%
$450,300
$450.3K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$61.9K $25.80/SF
− Vacancy
−$4.0K −$1.68/SF
EGI
$57.9K $24.12/SF
− OpEx
−$17.4K −$7.24/SF
NOI
$40.5K $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%
$810,540
Cap Rate 7%
$578,957
Cap Rate 9%
$450,300
Alternative Uses
Best Use
Multifamily LT 5
$579.0K
$506.6K – $675.5K
NOI $40,527 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$520.0K
$455.0K – $606.7K
NOI $36,402 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$802.9K
$702.6K – $936.8K
NOI $56,205 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,919
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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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 spacious units feature modern kitchens, updated baths, and additional expansion possibilities.
Where is this duplex located?
The property is located at 32 Pumgansett Street Providence, RI.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,400 square feet of total property size; Each unit includes 4 bedrooms and 2 full bathrooms; Second‑floor unit features cathedral ceilings and attic expansion potential
