Two-Unit Duplex with
For Sale
$559,500
324 Fort Street, East Providence, RI 02914
Each residence has two bedrooms, and the property includes an unfinished basement.
Property Size2,578 SF
Price / SF$217.03
Days on Market8
Property Features for 324 Fort Street
General Information
Standard status
Active
Size
2,578 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R-6
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,579
Amenities
Golf, Restaurant
Natural Gas
Full, Unfinished, Walk-Out Access
Dryer, Gas Water Heater, Oven, Range, Refrigerator, Washer
Cathedral Ceiling(s), High Ceilings, Vaulted Ceiling(s)
Paved, No Garage
Stacked
Building Details
Building Size
2,578 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
RE/MAX River's Edge
Listed By:
Sharon McCarthy · License #45070
(401) 480-7100
Source:
Evrealestate
Added: Oct 7
Changed: Oct 14
Last Checked: Oct 12 at 7:41PM
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 RE/MAX River's Edge
Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two residences, each with two bedrooms. An unfinished basement provides additional space in its current condition.
The property is near Pierce Field, Veterans Memorial Parkway, and the East Bay Bike Path in East Providence.
The property is near Pierce Field, Veterans Memorial Parkway, and the East Bay Bike Path in East Providence.
Key Highlights
- Two residential units, each with 2 bedrooms
- Unfinished basement
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,925
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,500
$858.5K
Cap Rate 7%
$613,214
$613.2K
Cap Rate 9%
$476,944
$476.9K
Market Conditions
NOI Build-Up for 2,578 SF
Gross rent
$65.6K $25.44/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$61.3K $23.79/SF
− OpEx
−$18.4K −$7.14/SF
NOI
$42.9K $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 Rate 5%
$858,500
Cap Rate 7%
$613,214
Cap Rate 9%
$476,944
Alternative Uses
Best Use
Multifamily LT 5
$613.2K
$536.6K – $715.4K
NOI $42,925 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$486.7K
$425.8K – $567.8K
NOI $34,067 @ 7.0% cap · market cap 6.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Each residence has two bedrooms, and the property includes an unfinished basement.
Where is this duplex located?
The property is located at 324 Fort Street East Providence, RI.
What is the asking price?
The asking price for this property is $559,500.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms; Unfinished basement; Built in 1900
