Updated Two-Unit
For Sale
$549,900
346 Douglas Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size1,704 SF
Lot Size0.05 Acres
Price / SF$322.71
Days on Market54
Property Features for 346 Douglas Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Basement
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed)
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active
Size
1,704 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4921
Utilities
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Laminate, Tile - Ceramic, Vinyl
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
David Zuller
(401) 447-8988
Added: Jul 7
Changed: Aug 20
Last Checked: Aug 29 at 12:06PM
MLS# 1417142
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-unit duplex at 346 Douglas Avenue contains 1,704 square feet and was built in 1900. Both residences include two bedrooms and one full bathroom, along with updated kitchens and refreshed baths. The building also features vinyl siding, a six-year-old roof, laminate, ceramic tile, and vinyl flooring, plus natural-gas baseboard heat and window-unit cooling. A basement and gas water heater add functional support space and equipment.
Set on 0.05 acres in Providence’s Wanskuck neighborhood, the property is near shopping, restaurants, schools, public transportation, and major highways. The seller may provide one vacant unit at closing, allowing an owner to occupy one residence while the other remains available for rental use.
Set on 0.05 acres in Providence’s Wanskuck neighborhood, the property is near shopping, restaurants, schools, public transportation, and major highways. The seller may provide one vacant unit at closing, allowing an owner to occupy one residence while the other remains available for rental use.
Key Highlights
- Two‑unit duplex with 1,704 square feet on 0.05 acres
- Each unit includes 2 bedrooms and 1 full bathroom
- Updated kitchens and refreshed bathrooms in both units
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
$28,774
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
5.23%
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%
$575,480
$575.5K
Cap Rate 7%
$411,057
$411.1K
Cap Rate 9%
$319,711
$319.7K
Market Conditions
NOI Build-Up for 1,704 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
$44.0K $25.80/SF
− Vacancy
−$2.9K −$1.68/SF
EGI
$41.1K $24.12/SF
− OpEx
−$12.3K −$7.24/SF
NOI
$28.8K $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%
$575,480
Cap Rate 7%
$411,057
Cap Rate 9%
$319,711
Alternative Uses
Best Use
Multifamily LT 5
$411.1K
$359.7K – $479.6K
NOI $28,774 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$369.2K
$323.1K – $430.8K
NOI $25,845 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$570.1K
$498.8K – $665.1K
NOI $39,906 @ 7.0% cap · market cap 7.26%
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
1,919
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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?
Duplex - Two-bedroom units with refreshed kitchens, updated bathrooms, and flexible owner-occupancy potential.
Where is this duplex located?
The property is located at 346 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,704 square feet on 0.05 acres; Each unit includes 2 bedrooms and 1 full bathroom; Updated kitchens and refreshed bathrooms in both units
