2-Unit
New
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 Market1
Property Features for 346 Douglas Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Basement, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed)
Basement
Unfinished, Full
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
Baseboard, Natural Gas
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
Buildings
1
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
David Zuller
(401) 447-8988
Added: Oct 26
Last Checked: Oct 26 at 3:06PM
MLS# 1426948
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.
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Investment Insights
Based on property information with market context.
This 1,704-square-foot duplex contains two residences, each with two bedrooms and one full bathroom. Kitchens have been updated, and bathrooms refreshed. The building has vinyl siding and a roof installed six years ago. Interior finishes include laminate, ceramic tile, and vinyl flooring; heating is natural gas baseboard, with window-unit cooling. A gas water heater serves the property. The parcel measures 0.05 acres, and the building dates to 1900.
The property is on Douglas Avenue in Providence, with shopping, restaurants, schools, public transportation, and major highways noted nearby. One residence may be delivered vacant at closing, as offered by the seller.
The property is on Douglas Avenue in Providence, with shopping, restaurants, schools, public transportation, and major highways noted nearby. One residence may be delivered vacant at closing, as offered by the seller.
Key Highlights
- Two residences, each with 2 bedrooms and 1 full bathroom
- 1,704 square feet on a 0.05‑acre parcel
- One residence may be delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,774
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,919
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, an updated kitchen, and a refreshed full bathroom.
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 residences, each with 2 bedrooms and 1 full bathroom; 1,704 square feet on a 0.05‑acre parcel; One residence may be delivered vacant at closing
