Well-Maintained Three-Family
For Sale
$669,000
Pending
42 Calder St, Providence, RI 02907
Three residential units each offer two bedrooms and one full bathroom in a well-maintained, updated property.
Property Size3,390 SF
Days on Market92
Property Features for 42 Calder St
General Information
Standard status
Pending
Size
3,390 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1895
Listing Agency:
Coldwell Banker Realty
Listed By:
Mariela De La Rosa · License #50367
Source:
Rhodeislandhomesforsale
Added: Jun 12
Changed: Sep 9
Last Checked: Sep 11 at 10:57AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This well-maintained three-family property offers three residential units, each with two bedrooms and one full bathroom. The third-floor unit has been completely renovated and is move-in ready. Recent exterior updates include newly paved driveway and backyard improvements, supporting clean, functional outdoor space.
The property is located in Providence and is described as being just minutes from schools, shopping, restaurants, hospitals, public transportation, and major highways, supporting convenient everyday access.
With two-bedroom, one-bath layouts across all units and exterior improvements already completed, the building presents a straightforward income or owner-occupant option within a maintained multifamily setting.
The property is located in Providence and is described as being just minutes from schools, shopping, restaurants, hospitals, public transportation, and major highways, supporting convenient everyday access.
With two-bedroom, one-bath layouts across all units and exterior improvements already completed, the building presents a straightforward income or owner-occupant option within a maintained multifamily setting.
Key Highlights
- Three‑family property built in 1895 with 3 residential units
- Each unit offers 2 bedrooms and 1 full bathroom
- Third‑floor unit is completely renovated and move‑in ready
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
$57,244
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
8.56%
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%
$1,144,880
$1.1M
Cap Rate 7%
$817,771
$817.8K
Cap Rate 9%
$636,044
$636.0K
Market Conditions
NOI Build-Up for 3,390 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
$87.5K $25.80/SF
− Vacancy
−$5.7K −$1.68/SF
EGI
$81.8K $24.12/SF
− OpEx
−$24.5K −$7.24/SF
NOI
$57.2K $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%
$1,144,880
Cap Rate 7%
$817,771
Cap Rate 9%
$636,044
Alternative Uses
Best Use
Multifamily LT 5
$817.8K
$715.6K – $954.1K
NOI $57,244 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$734.5K
$642.7K – $857.0K
NOI $51,418 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.13M
$992.4K – $1.32M
NOI $79,390 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,111
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units each offer two bedrooms and one full bathroom in a well-maintained, updated property.
Where is this triplex located?
The property is located at 42 Calder St Providence, RI.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Three‑family property built in 1895 with 3 residential units; Each unit offers 2 bedrooms and 1 full bathroom; Third‑floor unit is completely renovated and move‑in ready
