Two-Family Residential
For Sale
$595,000
33 wood Street, Providence, RI 02907
MULTI_FAMILY - Providence, RI
Property Size2,274 SF
Lot Size0.10 Acres
Price / SF$261.65
Days on Market53
Property Features for 33 wood Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
7
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 7, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 3, Basement
Parking
4
Parking features
None
Basement
Full, Partially Finished
Appliances
Gas Water Heater, Oven/Range, Refrigerator
Standard status
Active
Size
2,274 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4405
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1860
Number of units
2
Flooring type
Hardwood, Laminate
Building materials
Vinyl Siding
Listing Agency:
Century 21 Visionary Group · Century 21 Real Estate
(401) 380-6020
Listed By:
Jean Feliciano
(401) 380-0183
Added: Jun 23
Changed: Aug 9
Last Checked: Aug 14 at 4:06PM
MLS# 1416100
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 two-family residential duplex offers owner-occupant and investor versatility with two separate living areas. The first-floor unit includes 2 bedrooms and 1 full bath. The second and third floors feature a townhouse-style layout with 5 rooms, 1 full bath, and 1 half bath. Interior finishes include hardwood and laminate flooring, supported by heating from natural gas baseboard systems.
The home is situated on a 0.1-acre lot and totals 2,274 square feet. Constructed in 1860, the property features vinyl siding and uses public water service. Appliances on site include a gas water heater, oven/range, and refrigerator.
Zoned R-3, the property is positioned for tenants seeking a straightforward, duplex-style configuration, with additional value-add opportunities described as subject to the seller finding suitable housing.
The home is situated on a 0.1-acre lot and totals 2,274 square feet. Constructed in 1860, the property features vinyl siding and uses public water service. Appliances on site include a gas water heater, oven/range, and refrigerator.
Zoned R-3, the property is positioned for tenants seeking a straightforward, duplex-style configuration, with additional value-add opportunities described as subject to the seller finding suitable housing.
Key Highlights
- R‑3 zoning
- 2,274 SF two‑family duplex on a 0.1‑acre lot
- Year built 1860
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,399
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$767,980
$768.0K
Cap Rate 7%
$548,557
$548.6K
Cap Rate 9%
$426,656
$426.7K
Market Conditions
NOI Build-Up for 2,274 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.7K $25.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$54.9K $24.12/SF
− OpEx
−$16.5K −$7.24/SF
NOI
$38.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$767,980
Cap Rate 7%
$548,557
Cap Rate 9%
$426,656
Alternative Uses
Best Use
Multifamily LT 5
$548.6K
$480.0K – $640.0K
NOI $38,399 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$492.7K
$431.1K – $574.9K
NOI $34,491 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$760.8K
$665.7K – $887.6K
NOI $53,254 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex on R-3 zoning with public water and natural gas baseboard heating built in 1860.
Where is this duplex located?
The property is located at 33 wood Street Providence, RI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: R‑3 zoning; 2,274 SF two‑family duplex on a 0.1‑acre lot; Year built 1860
