New Side-by-Side
For Sale
$749,900
4 Donelson St, Providence, RI 02908
Three-level living features hardwood floors, quartz countertops, central AC, and a lower-level family room.
Property Size3,150 SF
Price / SF$238.06
Days on Market57
Property Features for 4 Donelson St
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,880
Building Details
Buildings
1
Stories
3
Listing Agency:
Innovations Realty
(401) 241-9439
Listed By:
Samuel Albert · License #RES.0042367
(401) 241-9439
Source:
Exprealty
Added: Jun 17
Changed: Aug 6
Last Checked: Aug 11 at 11:24AM
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 Innovations Realty
Investment Insights
Based on property information with market context.
This brand-new duplex at 4 Donelson St in Providence, RI is configured as two side-by-side residences with 3,150 square feet of total property size. The two-family layout provides six bedrooms and four bathrooms across three levels of living, giving each unit a home-style configuration. A lower-level family room adds flexible interior space.
Interior finishes include hardwood flooring, quartz countertops, central air conditioning, black premium windows from Stergis, and white board-and-batten detailing. The property is positioned near Providence College and its campus, with nearby rental properties and restaurants. The stated use potential includes student rentals or an owner-occupant arrangement with one unit available for rental.
Interior finishes include hardwood flooring, quartz countertops, central air conditioning, black premium windows from Stergis, and white board-and-batten detailing. The property is positioned near Providence College and its campus, with nearby rental properties and restaurants. The stated use potential includes student rentals or an owner-occupant arrangement with one unit available for rental.
Key Highlights
- Brand‑new two‑family duplex with side‑by‑side units
- 3,150 square feet with 6 bedrooms and 4 bathrooms total
- Three levels of living in each unit
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
$53,191
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
7.09%
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%
$1,063,820
$1.1M
Cap Rate 7%
$759,871
$759.9K
Cap Rate 9%
$591,011
$591.0K
Market Conditions
NOI Build-Up for 3,150 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
$81.3K $25.80/SF
− Vacancy
−$5.3K −$1.68/SF
EGI
$76.0K $24.12/SF
− OpEx
−$22.8K −$7.24/SF
NOI
$53.2K $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%
$1,063,820
Cap Rate 7%
$759,871
Cap Rate 9%
$591,011
Alternative Uses
Best Use
Multifamily LT 5
$759.9K
$664.9K – $886.5K
NOI $53,191 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$682.5K
$597.2K – $796.3K
NOI $47,777 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.05M
$922.1K – $1.23M
NOI $73,769 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,631
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 - Three-level living features hardwood floors, quartz countertops, central AC, and a lower-level family room.
Where is this duplex located?
The property is located at 4 Donelson St Providence, RI.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Brand‑new two‑family duplex with side‑by‑side units; 3,150 square feet with 6 bedrooms and 4 bathrooms total; Three levels of living in each unit
