2-Unit
34 Fairmount Ave, Providence, RI 02919
For Sale
$376,000
Pending
Each residence has two bedrooms, with on-site parking for two cars.
Property Size1,256 SF
Days on Market16
Property Features for 34 Fairmount Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Listing Agency:
Hemekedeal Realty, LLC
Listed By:
Heber Recinos
(401) 868-8421
Source:
Exprealty
Added: Oct 29
Changed: Nov 7
Last Checked: Nov 12 at 8:34AM
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 Hemekedeal Realty, LLC
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Investment Insights
Based on property information with market context.
This duplex contains two apartments, each configured with two bedrooms. The property totals 1,256 square feet and includes parking for two cars.
Key Highlights
- Two apartments, each with 2 bedrooms
- 1,256 square feet of property area
- Parking for 2 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,209
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,180
$424.2K
Cap Rate 7%
$302,986
$303.0K
Cap Rate 9%
$235,656
$235.7K
Market Conditions
NOI Build-Up for 1,256 SF
Gross rent
$32.4K $25.80/SF
− Vacancy
−$2.1K −$1.68/SF
EGI
$30.3K $24.12/SF
− OpEx
−$9.1K −$7.24/SF
NOI
$21.2K $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%
$424,180
Cap Rate 7%
$302,986
Cap Rate 9%
$235,656
Alternative Uses
Best Use
Multifamily LT 5
$303.0K
$265.1K – $353.5K
NOI $21,209 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$272.1K
$238.1K – $317.5K
NOI $19,050 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$420.2K
$367.7K – $490.2K
NOI $29,414 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,163
Businesses Nearby
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Business Placement
Demographics for 02919, RI
29,473
Population
11,993
Households
2.5
Avg Household Size
45
Median Age
29%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,254
Density / Sq Mi
$87,811
Median Household Income
$56,068
Median Earnings
$1,259
Median Rent
$326,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Providence, RI
Properties on Market for Duplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, with on-site parking for two cars.
Where is this duplex located?
The property is located at 34 Fairmount Ave Providence, RI.
What is the asking price?
The asking price for this property is $376,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms; 1,256 square feet of property area; Parking for 2 cars
