Two-Unit
New
For Sale
$559,500
324 Fort Street, East Providence, RI 02914
Residential Income, East Providence, RI
Property Size2,578 SF
Lot Size0.16 Acres
Price / SF$217.03
Days on Market5
Property Features for 324 Fort Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-6
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Basement, Bathroom 2, Bedroom 2, Bedroom 1
Parking
6
Parking features
None
Interior features
Wall (Dry Wall), Attic Stairs, Cathedral Ceilings
Basement
Storage Space, Unfinished, Full
Appliances
Dryer, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Pierce Field Vets Parkway
Lot features
Paved Driveway
Standard status
Active
Size
2,578 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6579
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Laminate
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Re/Max River's Edge · RE/MAX International
(401) 245-2000
Listed By:
Sharon McCarthy · License #45070
(401) 480-7100
Added: Oct 7
Last Checked: Oct 11 at 11:06AM
MLS# 1425311
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 duplex contains two residences, each with two bedrooms. The building measures 2,578 square feet and includes an unfinished basement. Interior details include cathedral ceilings, laminate flooring, and attic stairs; the exterior is vinyl siding. Natural gas provides heat, and the property is served by public sewer. The lot spans 0.16 acres, and the building dates to 1900. Zoning is R-6.
Pierce Field, Veterans Memorial Parkway, and the East Bay Bike Path are nearby. The property is currently configured as two units, although tax records identify it as a three-family property.
Pierce Field, Veterans Memorial Parkway, and the East Bay Bike Path are nearby. The property is currently configured as two units, although tax records identify it as a three-family property.
Key Highlights
- Two units, each with 2 bedrooms
- 2,578‑square‑foot building on a 0.16‑acre lot
- Unfinished basement; tax records identify the property as a 3‑family
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.
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 units, each with 2 bedrooms; 2,578‑square‑foot building on a 0.16‑acre lot; Unfinished basement; tax records identify the property as a 3‑family
