Two-Unit Residential
For Sale
$425,000
Pending
32 Ruggles Street, Providence, RI 02908
Residential Income, Providence, RI
Property Size1,954 SF
Lot Size0.07 Acres
Days on Market49
Property Features for 32 Ruggles Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 5, Basement, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 4, Bedroom 1
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed), Insulation (Unknown)
Basement
Unfinished, Full
Appliances
Oven, Range, Refrigerator, Gas Water Heater
Subdivision
Smith Hill
Standard status
Pending
Size
1,954 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5816
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Laminate
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Here Realty
(401) 862-1251
Listed By:
Dave Schneider
(401) 440-8659
Added: Sep 9
Changed: Oct 22
Last Checked: Oct 27 at 5:06AM
MLS# 1422918
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.
Built in 1930, this 1,954-square-foot duplex contains two side-by-side apartments, each with three bedrooms and one bathroom. The 0.0735-acre property has natural gas baseboard heat, tile and laminate flooring, and vinyl siding. Both apartments are occupied by long-term tenants on month-to-month arrangements.
The property is in Providence’s Smith Hill neighborhood, near grocery stores, restaurants, cafés, and the State House. I-95 and Route 10 are nearby, as are several bus lines.
The property is in Providence’s Smith Hill neighborhood, near grocery stores, restaurants, cafés, and the State House. I-95 and Route 10 are nearby, as are several bus lines.
Key Highlights
- Two side‑by‑side apartments, each with 3 bedrooms and 1 bathroom
- 1,954 square feet on a 0.0735‑acre lot
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,995
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,900
$659.9K
Cap Rate 7%
$471,357
$471.4K
Cap Rate 9%
$366,611
$366.6K
Market Conditions
NOI Build-Up for 1,954 SF
Gross rent
$50.4K $25.80/SF
− Vacancy
−$3.3K −$1.68/SF
EGI
$47.1K $24.12/SF
− OpEx
−$14.1K −$7.24/SF
NOI
$33.0K $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%
$659,900
Cap Rate 7%
$471,357
Cap Rate 9%
$366,611
Alternative Uses
Best Use
Multifamily LT 5
$471.4K
$412.4K – $549.9K
NOI $32,995 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$423.4K
$370.5K – $494.0K
NOI $29,637 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$653.7K
$572.0K – $762.7K
NOI $45,760 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,927
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have three bedrooms and one bathroom, and are occupied under month-to-month tenancies.
Where is this duplex located?
The property is located at 32 Ruggles Street Providence, RI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two side‑by‑side apartments, each with 3 bedrooms and 1 bathroom; 1,954 square feet on a 0.0735‑acre lot; Built in 1930
