New Construction Duplex with ADU
For Sale
$689,900
39 Douglas Avenue, Providence, RI 02908
Each residence offers open-concept living areas, kitchen islands, and two full baths.
Property Size3,600 SF
Days on Market61
Property Features for 39 Douglas Avenue
General Information
Standard status
Active
Size
3,600 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Additional Details
Highway Access
Yes
Building Details
Building Size
3,600 SF
Year Built
2025
Buildings
1
Stories
2
Units
2
Listing Agency:
HERE Realty
(401) 632-7490
Listed By:
Steven London
(401) 632-7490
Source:
Liongatere
Added: Jun 26
Changed: Aug 23
Last Checked: Aug 24 at 1:39PM
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 HERE Realty
Investment Insights
Based on property information with market context.
Built in 2025, this two-family duplex at 39 Douglas Avenue includes two residences, each with three bedrooms and two bathrooms. Both units feature open-concept common areas, broad stairways, kitchen islands, upgraded fixtures, and decorative bathroom tilework. Abundant natural light reaches the interior, while the overall layout provides generously proportioned living spaces.
The basement includes high ceilings and egress windows, creating potential for an accessory dwelling unit or additional living area. Off-street parking is provided, and the property offers convenient highway access with proximity to the State House. The configuration supports owner occupancy, multigenerational living, or separate residential use across both units.
The basement includes high ceilings and egress windows, creating potential for an accessory dwelling unit or additional living area. Off-street parking is provided, and the property offers convenient highway access with proximity to the State House. The configuration supports owner occupancy, multigenerational living, or separate residential use across both units.
Key Highlights
- Two‑family duplex with two 3‑bedroom, 2‑bath residences
- 2025 construction
- Basement with high ceilings and egress windows
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
$60,790
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
8.81%
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%
$1,215,800
$1.2M
Cap Rate 7%
$868,429
$868.4K
Cap Rate 9%
$675,444
$675.4K
Market Conditions
NOI Build-Up for 3,600 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
$92.9K $25.80/SF
− Vacancy
−$6.0K −$1.68/SF
EGI
$86.8K $24.12/SF
− OpEx
−$26.1K −$7.24/SF
NOI
$60.8K $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 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%
$1,215,800
Cap Rate 7%
$868,429
Cap Rate 9%
$675,444
Alternative Uses
Best Use
Multifamily LT 5
$868.4K
$759.9K – $1.01M
NOI $60,790 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$780.0K
$682.5K – $910.1K
NOI $54,603 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,308 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,557
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers open-concept living areas, kitchen islands, and two full baths.
Where is this duplex located?
The property is located at 39 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Two‑family duplex with two 3‑bedroom, 2‑bath residences; 2025 construction; Basement with high ceilings and egress windows
