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 Market91
Property Features for 346 Douglas Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 2
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
Vinyl, Laminate, Tile - Ceramic
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
David Zuller · License #REB.0200492
(401) 447-8988
Added: Jul 7
Changed: Sep 22
Last Checked: Oct 5 at 6:06PM
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 / 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.
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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
