Three-Unit Triplex Near Dexter
For Sale
Under Contract
$499,900
34 Hudson Street, Providence, RI 02909
Residential Income, Providence, RI
Property Size2,347 SF
Lot Size0.10 Acres
Price / SF$212
Days on Market111
Property Features for 34 Hudson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking
4
Parking features
None
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active Under Contract
Size
2,347 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4294
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
1876
Number of units
3
Flooring type
Tile - Ceramic
Building materials
Wood
Listing Agency:
Exp Realty
(888) 315-3445
Listed By:
Jonathan Bolano
(401) 612-3755
Added: May 11
Changed: Aug 20
Last Checked: Aug 29 at 12:06PM
MLS# 1412235
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 three-unit residential income property at 34 Hudson Street contains 2,347 square feet, with 8 bedrooms and 3 full bathrooms. Built in 1876, the wood-frame property includes ceramic tile flooring, natural gas baseboard heating, and a gas water heater. The layout provides separate residential units within a compact Providence multifamily asset.
The property is near Dexter Field, where amenities include volleyball courts, basketball courts, trails, and open recreational space. Federal Hill, Providence Place Mall, restaurants, and shopping are also nearby. Route 6, Route 10, and I-95 provide access to surrounding Providence destinations and broader Rhode Island travel routes.
The property is near Dexter Field, where amenities include volleyball courts, basketball courts, trails, and open recreational space. Federal Hill, Providence Place Mall, restaurants, and shopping are also nearby. Route 6, Route 10, and I-95 provide access to surrounding Providence destinations and broader Rhode Island travel routes.
Key Highlights
- Three residential units with 8 bedrooms and 3 full bathrooms
- 2,347 square feet on a 0.1‑acre lot
- Built in 1876 with wood construction
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
$39,632
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
7.93%
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%
$792,640
$792.6K
Cap Rate 7%
$566,171
$566.2K
Cap Rate 9%
$440,356
$440.4K
Market Conditions
NOI Build-Up for 2,347 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
$60.6K $25.80/SF
− Vacancy
−$3.9K −$1.68/SF
EGI
$56.6K $24.12/SF
− OpEx
−$17.0K −$7.24/SF
NOI
$39.6K $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%
$792,640
Cap Rate 7%
$566,171
Cap Rate 9%
$440,356
Alternative Uses
Best Use
Multifamily LT 5
$566.2K
$495.4K – $660.5K
NOI $39,632 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$508.5K
$445.0K – $593.3K
NOI $35,598 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$785.2K
$687.1K – $916.1K
NOI $54,964 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,070
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
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?
Triplex - Three-unit property with natural gas baseboard heating and access to nearby recreation, shopping, dining, and major routes.
Where is this triplex located?
The property is located at 34 Hudson Street Providence, RI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three residential units with 8 bedrooms and 3 full bathrooms; 2,347 square feet on a 0.1‑acre lot; Built in 1876 with wood construction
