Updated 3-Unit
For Sale
$782,000
Pending
38 Mitchell Street, Providence, RI 02907
Residential Income, Providence, RI
Property Size3,474 SF
Lot Size0.06 Acres
Days on Market100
Property Features for 38 Mitchell Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bedroom 7, Basement, Bathroom 1, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 9, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 8
Parking
8
Parking features
None
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Attic, Attic Storage, Stairs, Insulation (Unknown)
Exterior features
Balcony, Porch
Basement
Storage Space, Full, Partially Finished
Appliances
Microwave, Oven, Range, Refrigerator, Gas Water Heater
Lot features
Sidewalks
Standard status
Pending
Size
3,474 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4331
Utilities
Heating system
Central, Natural Gas, Forced Air, Baseboard
Cooling system
Window Unit(s), Central Air
Amenities
bonus rooms
central air
security system
basement
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Flooring type
Laminate, Vinyl
Building materials
Dry Wall, Vinyl Siding
Additional Structures
Storage
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
Listed By:
Jose Duce Rocher
(617) 749-7178
Added: Jul 20
Changed: Oct 22
Last Checked: Oct 26 at 11:06PM
MLS# 1418161
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 three-family property contains 3,474 square feet and was built in 1910. The units have been updated and include a total of 9 bedrooms and 3.5 bathrooms, along with bonus rooms. A large basement provides additional storage. Heating and cooling vary by unit: the upper residence has central air, while the lower residences use baseboard heat. Exterior features include a balcony and porch, and the property has a security system.
Set on a 0.0643-acre corner lot in Providence, the property combines three separate residences with a range of room configurations.
Set on a 0.0643-acre corner lot in Providence, the property combines three separate residences with a range of room configurations.
Key Highlights
- Three‑family property with 9 bedrooms and 3.5 bathrooms
- 3,474 square feet on a 0.0643‑acre corner lot
- Units have been updated and include bonus rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,662
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,173,240
$1.2M
Cap Rate 7%
$838,029
$838.0K
Cap Rate 9%
$651,800
$651.8K
Market Conditions
NOI Build-Up for 3,474 SF
Gross rent
$89.6K $25.80/SF
− Vacancy
−$5.8K −$1.68/SF
EGI
$83.8K $24.12/SF
− OpEx
−$25.1K −$7.24/SF
NOI
$58.7K $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%
$1,173,240
Cap Rate 7%
$838,029
Cap Rate 9%
$651,800
Alternative Uses
Best Use
Multifamily LT 5
$838.0K
$733.3K – $977.7K
NOI $58,662 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$752.7K
$658.7K – $878.2K
NOI $52,692 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,357 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,598
Businesses Nearby
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Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three residences offer nine bedrooms, bonus rooms, and a large basement for storage.
Where is this triplex located?
The property is located at 38 Mitchell Street Providence, RI.
What is the asking price?
The asking price for this property is $782,000.
What are key features of this property?
This property features: Three‑family property with 9 bedrooms and 3.5 bathrooms; 3,474 square feet on a 0.0643‑acre corner lot; Units have been updated and include bonus rooms
