Triplex with Owner’s
For Sale
$699,900
Pending
39 Allendale Avenue, North Providence, RI 02911
Residential Income, North Providence, RI
Property Size3,250 SF
Lot Size0.18 Acres
Days on Market75
Property Features for 39 Allendale Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 5, Bathroom 4, Bedroom 4, Bedroom 5, Basement, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking
6
Parking features
None
Interior features
Wall (Plaster), Plumbing (Mixed), Insulation (Cap), Insulation (Ceiling), Insulation (Walls)
Basement
Finished, Full
Appliances
Tankless Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
Lymansville
Lot features
Paved Driveway
Standard status
Pending
Size
3,250 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6100
Utilities
Heating system
Natural Gas
Cooling system
Ductless
Amenities
laundry in the building
Building Details
Year built
1985
Floors in Building
3
Number of units
3
Flooring type
Laminate, Tile - Ceramic
Building materials
Plaster, Brick, Vinyl Siding
Listing Agency:
Alltown Real Estate Group
(401) 949-5400
Listed By:
Ed Duffy
(401) 949-5400
Added: Jun 13
Changed: Aug 20
Last Checked: Aug 26 at 12:06PM
MLS# 1415316
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.
Built in 1985, this 3,250-square-foot triplex includes a nearly 1,400-square-foot owner’s residence with three bedrooms, two-and-a-half baths, air conditioning, and a large kitchen and dining area. Two additional one-bedroom apartments each include walkout access. The property also offers shared laundry, a spacious backyard, and three gas-fired Navien boilers.
Located at 39 Allendale Avenue in North Providence, the property sits on a 0.18-acre lot near Rhode Island College. Interior finishes include plaster walls, laminate and ceramic tile flooring, and mixed plumbing. Appliances include a dishwasher, washer, dryer, microwave, oven/range, refrigerator, and tankless water heater.
Located at 39 Allendale Avenue in North Providence, the property sits on a 0.18-acre lot near Rhode Island College. Interior finishes include plaster walls, laminate and ceramic tile flooring, and mixed plumbing. Appliances include a dishwasher, washer, dryer, microwave, oven/range, refrigerator, and tankless water heater.
Key Highlights
- Three‑unit multifamily property at 39 Allendale Avenue, North Providence, RI 02911
- 3,250‑square‑foot building on a 0.18‑acre lot
- Owner’s unit measures nearly 1,400 square feet with 3 bedrooms and 2.5 baths
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
$54,114
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
7.73%
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%
$1,082,280
$1.1M
Cap Rate 7%
$773,057
$773.1K
Cap Rate 9%
$601,267
$601.3K
Market Conditions
NOI Build-Up for 3,250 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
$82.7K $25.44/SF
− Vacancy
−$5.4K −$1.65/SF
EGI
$77.3K $23.79/SF
− OpEx
−$23.2K −$7.14/SF
NOI
$54.1K $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%
$1,082,280
Cap Rate 7%
$773,057
Cap Rate 9%
$601,267
Alternative Uses
Best Use
Multifamily LT 5
$773.1K
$676.4K – $901.9K
NOI $54,114 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$613.5K
$536.8K – $715.8K
NOI $42,947 @ 7.0% cap · market cap 6.14%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
376
Businesses Nearby
Explore this area
Business Placement
Demographics for 02911, RI
16,384
Population
6,894
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
2.5 sq mi
ZIP Area
6,554
Density / Sq Mi
$85,803
Median Household Income
$53,209
Median Earnings
$1,480
Median Rent
$319,300
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?
Triplex - The building combines a three-bedroom owner’s unit with two one-bedroom apartments and shared laundry.
Where is this triplex located?
The property is located at 39 Allendale Avenue North Providence, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑unit multifamily property at 39 Allendale Avenue, North Providence, RI 02911; 3,250‑square‑foot building on a 0.18‑acre lot; Owner’s unit measures nearly 1,400 square feet with 3 bedrooms and 2.5 baths
