New Duplex with ADU
For Sale
$689,900
Pending
39 Douglas Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size3,600 SF
Lot Size0.07 Acres
Days on Market59
Property Features for 39 Douglas Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Basement
Parking
3
Parking features
None
Patio and Porch features
Porch
Exterior features
Porch
Basement
Unfinished, Full
Appliances
Gas Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
Lot features
Sidewalks
Standard status
Pending
Size
3,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
off-street parking
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Flooring type
Laminate, Tile - Ceramic
Building materials
Vinyl Siding
Listing Agency:
Here Realty
(401) 862-1251
Listed By:
Steven London
(401) 632-7490
Added: Jun 26
Changed: Aug 20
Last Checked: Aug 23 at 7:06PM
MLS# 1416403
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 2025, this two-family property contains 3,600 square feet on a 0.07-acre lot. Each residence provides three bedrooms and two baths, with open-concept common areas, broad stairways, kitchen islands, and ceramic tile bathroom accents. Laminate and ceramic tile flooring, central air, forced-air heating, and a gas water heater are included. Both kitchens are equipped with a dishwasher, microwave, oven/range, and refrigerator.
The basement offers high ceilings and egress windows, creating potential for an ADU or additional living area. A porch adds outdoor space, while the property provides access to nearby highways and proximity to the State House. Vinyl siding completes the exterior.
The basement offers high ceilings and egress windows, creating potential for an ADU or additional living area. A porch adds outdoor space, while the property provides access to nearby highways and proximity to the State House. Vinyl siding completes the exterior.
Key Highlights
- Two‑family property with three bedrooms and two baths in each residence
- 3,600 square feet on a 0.07‑acre lot
- Built in 2025
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
2
Residential units
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms, two baths, open living areas, and a kitchen centered around an island.
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 property with three bedrooms and two baths in each residence; 3,600 square feet on a 0.07‑acre lot; Built in 2025
