Duplex with Separate Upper
For Sale
$939,900
341 Lloyd Ave, Providence, RI 02906
Three-story property with wood floors, exposed brick, porches, and an outdoor dog run.
Property Size3,400 SF
Price / SF$276.44
Days on Market45
Property Features for 341 Lloyd Ave
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi-Family
Amenities
front porch
back yard area
dog run
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Patriot Realty, Inc.
(401) 578-7898
Listed By:
Ed Kazarian
Source:
Alpernandmesenbourg
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 28 at 11:56AM
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 Patriot Realty, Inc.
Investment Insights
Based on property information with market context.
This 3,400-square-foot duplex, built in 1900, includes a first-floor residence with two full bathrooms and a separate entrance serving the upper unit. The second- and third-floor townhouse measures 2,000 square feet and is currently arranged as two living areas with three full bathrooms. Wood flooring and exposed brick extend throughout all three levels. The top floor features a loft-style open plan with cathedral ceilings, while a custom sliding door connects the living room to a spacious front porch.
Outdoor features include front porches, a rear yard area, and a dog run. The property is located on Lloyd Avenue in Providence’s East Side, near Brown University and Moses Brown School.
Outdoor features include front porches, a rear yard area, and a dog run. The property is located on Lloyd Avenue in Providence’s East Side, near Brown University and Moses Brown School.
Key Highlights
- Duplex with separate entrance to the upper residence
- 3,400‑square‑foot building constructed in 1900
- 2,000sf townhouse spans the 2nd and 3rd floors
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
$57,413
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
6.11%
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%
$1,148,260
$1.1M
Cap Rate 7%
$820,186
$820.2K
Cap Rate 9%
$637,922
$637.9K
Market Conditions
NOI Build-Up for 3,400 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
$87.7K $25.80/SF
− Vacancy
−$5.7K −$1.68/SF
EGI
$82.0K $24.12/SF
− OpEx
−$24.6K −$7.24/SF
NOI
$57.4K $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%
$1,148,260
Cap Rate 7%
$820,186
Cap Rate 9%
$637,922
Alternative Uses
Best Use
Multifamily LT 5
$820.2K
$717.7K – $956.9K
NOI $57,413 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$736.7K
$644.6K – $859.5K
NOI $51,569 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.14M
$995.3K – $1.33M
NOI $79,624 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
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 - Three-story property with wood floors, exposed brick, porches, and an outdoor dog run.
Where is this duplex located?
The property is located at 341 Lloyd Ave Providence, RI.
What is the asking price?
The asking price for this property is $939,900.
What are key features of this property?
This property features: Duplex with separate entrance to the upper residence; 3,400‑square‑foot building constructed in 1900; 2,000sf townhouse spans the 2nd and 3rd floors
