Two-Family Home with Off-Street
For Sale
$525,000
329 Plainfield Street, Providence, RI 02909
Separate residential units support owner occupancy, extended living arrangements, or rental use with convenient parking.
Property Size2,955 SF
Price / SF$177.66
Days on Market56
Property Features for 329 Plainfield Street
General Information
Standard status
Active
Size
2,955 SF
Total Parking Spaces
4
Property subtype
MultiFamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3BR/1BA, 4BR/2BA
Multifamily Units
2
Building Details
Year Built
1940
Buildings
1
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Kyle Seyboth · License #REB.0019335
(508) 726-3492
Source:
Lockandkeyre
Added: Aug 19
Changed: Oct 13
Last Checked: Oct 12 at 7:05PM
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 Century 21 Limitless
Investment Insights
Based on property information with market context.
This 1940 two-family property contains two separate residences with distinct layouts. The first-floor apartment has 3 bedrooms and 1 full bathroom. Above, a townhouse-style unit provides 4 bedrooms, 2 full bathrooms, and generous living areas. Off-street parking accommodates up to 4 vehicles.
The property is located on Plainfield Street in Providence, near Silver Lake and Olneyville. Restaurants, grocery stores, markets, shopping, neighborhood businesses, healthcare facilities, colleges, parks, and RIPTA transportation are nearby. Route 6, Route 10, I-95, and I-195 provide regional connectivity, while Downtown Providence, Federal Hill, and the West End are minutes away. T.F. Green Airport is approximately 15 minutes from the property.
The property is located on Plainfield Street in Providence, near Silver Lake and Olneyville. Restaurants, grocery stores, markets, shopping, neighborhood businesses, healthcare facilities, colleges, parks, and RIPTA transportation are nearby. Route 6, Route 10, I-95, and I-195 provide regional connectivity, while Downtown Providence, Federal Hill, and the West End are minutes away. T.F. Green Airport is approximately 15 minutes from the property.
Key Highlights
- Two‑family property built in 1940
- First‑floor unit with 3 bedrooms and 1 full bathroom
- Second‑floor townhouse‑style unit with 4 bedrooms and 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,820
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,400
$896.4K
Cap Rate 7%
$640,286
$640.3K
Cap Rate 9%
$498,000
$498.0K
Market Conditions
NOI Build-Up for 2,955 SF
Gross rent
$86.9K $29.40/SF
− Vacancy
−$5.4K −$1.82/SF
EGI
$81.5K $27.58/SF
− OpEx
−$36.7K −$12.41/SF
NOI
$44.8K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$896,400
Cap Rate 7%
$640,286
Cap Rate 9%
$498,000
Alternative Uses
Best Use
Multifamily LT 5
$712.8K
$623.7K – $831.6K
NOI $49,898 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$640.3K
$560.3K – $747.0K
NOI $44,820 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$988.6K
$865.0K – $1.15M
NOI $69,203 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
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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 - Separate residential units support owner occupancy, extended living arrangements, or rental use with convenient parking.
Where is this duplex located?
The property is located at 329 Plainfield Street Providence, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑family property built in 1940; First‑floor unit with 3 bedrooms and 1 full bathroom; Second‑floor townhouse‑style unit with 4 bedrooms and 2 full bathrooms
