Multifamily
42 Garfield Street, North Providence, RI 02904
For Sale
$490,000
A 1920-built property in North Providence offers a practical interior layout.
Property Size2,586 SF
Price / SF$189.48
Days on Market19
Property Features for 42 Garfield Street
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Building Details
Year Built
Listing Agency:
J. Christopher Real Estate Grp
(401) 830-6906
Listed By:
Peggy Perez · License #RES.0044163
(401) 405-6206
Source:
Lockandkeyre
Added: Oct 19
Changed: Nov 6
Last Checked: Nov 6 at 2:15PM
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 J. Christopher Real Estate Grp
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Investment Insights
Based on property information with market context.
Located at 42 Garfield Street in North Providence, this 2,586-square-foot multifamily property was built in 1920. Its practical layout and inviting interior spaces provide the existing physical character of the home.
Shopping, restaurants, local amenities, and major highways are identified as nearby features of the area.
Shopping, restaurants, local amenities, and major highways are identified as nearby features of the area.
Key Highlights
- 2,586 square feet of building area
- Constructed in 1920
- Located at 42 Garfield Street in North Providence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,173
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,460
$683.5K
Cap Rate 7%
$488,186
$488.2K
Cap Rate 9%
$379,700
$379.7K
Market Conditions
NOI Build-Up for 2,586 SF
Gross rent
$66.1K $25.56/SF
− Vacancy
−$4.0K −$1.53/SF
EGI
$62.1K $24.03/SF
− OpEx
−$28.0K −$10.81/SF
NOI
$34.2K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,460
Cap Rate 7%
$488,186
Cap Rate 9%
$379,700
Alternative Uses
Best Use
Apartment 5plus
$488.2K
$427.2K – $569.6K
NOI $34,173 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$615.1K
$538.2K – $717.6K
NOI $43,058 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in North Providence, RI
Properties on Market for Multifamily properties in North Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A 1920-built property in North Providence offers a practical interior layout.
Where is this multifamily property located?
The property is located at 42 Garfield Street North Providence, RI.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 2,586 square feet of building area; Constructed in 1920; Located at 42 Garfield Street in North Providence
