Rehabilitated Duplex with Fenced
New
For Sale
$545,000
37 Trenton Street, Pawtucket, RI 02860
Two-unit property with updated interiors, private entry, screened porch, and a fenced yard.
Property Size2,000 SF
Price / SF$272.50
Days on Market6
Property Features for 37 Trenton Street
General Information
Standard status
Active
Size
2,000 SF
Property subtype
MultiFamily
Building Details
Year Built
1910
Listing Agency:
Spitz-Weiss, REALTORS
(401) 480-0852
Listed By:
Sam Glicksman · License #REB.0016154
(401) 480-0852
Source:
Lockandkeyre
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 10:05PM
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 Spitz-Weiss, REALTORS
Investment Insights
Based on property information with market context.
This 2,000-square-foot duplex, built in 1910, includes two residential units with distinct layouts and entrances. The second-floor residence has undergone a full rehabilitation with a new kitchen, bathroom, flooring, and windows. The first-floor unit includes two bedrooms, a screened porch, a private entrance with mudroom, updated appliances, insulated windows, and a new bathroom.
The property also provides a large fenced yard and four-car parking. Located at 37 Trenton Street in Pawtucket, the duplex is near East Side destinations, the Farmers Market, restaurants, shopping, bus service, highway access, and train transportation.
The property also provides a large fenced yard and four-car parking. Located at 37 Trenton Street in Pawtucket, the duplex is near East Side destinations, the Farmers Market, restaurants, shopping, bus service, highway access, and train transportation.
Key Highlights
- 2,000‑square‑foot duplex on a lot‑sized residential property
- Second‑floor unit fully rehabilitated with new kitchen, bathroom, flooring, and windows
- First‑floor unit includes 2 bedrooms, screened porch, private entrance, and mudroom
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
$33,301
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%
$666,020
$666.0K
Cap Rate 7%
$475,729
$475.7K
Cap Rate 9%
$370,011
$370.0K
Market Conditions
NOI Build-Up for 2,000 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
$50.9K $25.44/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$47.6K $23.79/SF
− OpEx
−$14.3K −$7.14/SF
NOI
$33.3K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$666,020
Cap Rate 7%
$475,729
Cap Rate 9%
$370,011
Alternative Uses
Best Use
Multifamily LT 5
$475.7K
$416.3K – $555.0K
NOI $33,301 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$377.6K
$330.4K – $440.5K
NOI $26,429 @ 7.0% cap · market cap 4.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,608
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
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 property with updated interiors, private entry, screened porch, and a fenced yard.
Where is this duplex located?
The property is located at 37 Trenton Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 2,000‑square‑foot duplex on a lot‑sized residential property; Second‑floor unit fully rehabilitated with new kitchen, bathroom, flooring, and windows; First‑floor unit includes 2 bedrooms, screened porch, private entrance, and mudroom
