Duplex with Separate
For Sale
Under Contract
$899,900
341 LLoyd Avenue, Providence, RI 02906
Residential Income, Providence, RI
Property Size3,400 SF
Lot Size0.09 Acres
Price / SF$264.68
Days on Market93
Property Features for 341 LLoyd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RI
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Basement, Bedroom 5, Bathroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 2
Parking
3
Parking features
None
Window features
Insulated Windows
Interior features
Wall (Dry Wall), Wall (Plaster), Cathedral Ceilings, Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown)
Fireplace
1
Basement
Full, Unfinished, Storage Space
Appliances
Gas Water Heater
Subdivision
Moses Brown
Lot features
Fenced, Paved Driveway
Standard status
Active Under Contract
Size
3,400 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8832
Utilities
Heating system
Central, Steam, Natural Gas
Water source
Public
Amenities
front porch
backyard
dog run
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Pine, Tile - Ceramic
Building materials
Dry Wall, Plaster, Clapboard, Wood
Listing Agency:
Patriot Realty, Inc.
Listed By:
Ed Kazarian
(401) 578-7898
Added: Jun 2
Changed: Sep 2
Last Checked: Sep 2 at 6:06PM
MLS# 1414046
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 3,400-square-foot duplex, built in 1900, contains a first-floor residence and a separate second-floor unit with its own entrance. The upper residence extends across the second and third floors and includes an open loft-style area with cathedral ceilings. Across the building, the interiors feature hardwood, pine, and ceramic tile flooring, exposed brick walls, and multiple full bathrooms. A gas water heater, natural gas heating, public water, and a fireplace are also included.
The 0.0918-acre property includes front porches, a rear yard, and a dog run. It is located on Lloyd Avenue in Providence’s East Side, near Brown University and Moses Brown School. The property is identified with RI zoning and has no on-site parking.
The 0.0918-acre property includes front porches, a rear yard, and a dog run. It is located on Lloyd Avenue in Providence’s East Side, near Brown University and Moses Brown School. The property is identified with RI zoning and has no on-site parking.
Key Highlights
- 3,400 square feet across a two‑unit residential building
- 0.0918‑acre lot on Lloyd Avenue in Providence
- Separate entrance serves the second‑floor residence
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
6.38%
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 6.38%
Second Best
Apartment 5plus
$736.7K
$644.6K – $859.5K
NOI $51,569 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$1.14M
$995.3K – $1.33M
NOI $79,624 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with hardwood floors, multiple full bathrooms, porches, and additional outdoor space.
Where is this duplex located?
The property is located at 341 LLoyd Avenue Providence, RI.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 3,400 square feet across a two‑unit residential building; 0.0918‑acre lot on Lloyd Avenue in Providence; Separate entrance serves the second‑floor residence
