12-Bedroom
For Sale
$850,000
Pending
420 Orms Street, Providence, RI 02908
Residential Income, Providence, RI
Property Size3,342 SF
Lot Size0.09 Acres
Days on Market161
Property Features for 420 Orms Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Triplex
Bedrooms
12
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 10, Bedroom 9, Bedroom 5, Bedroom 8, Bathroom 1, Bathroom 4, Bedroom 7, Basement, Bedroom 2, Bedroom 6, Bedroom 12, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 11, Bathroom 3, Bathroom 2
Parking
7
Parking features
None
Interior features
Wall (Dry Wall), Plumbing (Mixed)
Fireplace
1
Basement
Finished, Full
Appliances
Electric Water Heater
Subdivision
Smith Hill
Standard status
Pending
Size
3,342 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4649
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
4
Number of units
3
Flooring type
Hardwood
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Realpro By The Water
(401) 600-4100
Listed By:
The Realpro Group · License #24586
(401) 400-2019
Added: May 6
Changed: Oct 8
Last Checked: Oct 13 at 5:06PM
MLS# 1411856
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.
Located at 420 Orms Street in Providence, this triplex property contains 3,342 square feet with 12 bedrooms and four bathrooms. The interior includes hardwood flooring, drywall, mixed plumbing, a basement, and a fireplace. Construction features vinyl siding, while heating is provided by electric baseboard systems and cooling by window units. An electric water heater serves the building, and the water source is public.
Built in 1900, the property sits on a 0.0879-acre parcel. No parking is identified among the property features. The sale excludes the lot, a material consideration for evaluating the offering and its included real estate. The property is designated Triplex under zoning information provided for the listing.
Built in 1900, the property sits on a 0.0879-acre parcel. No parking is identified among the property features. The sale excludes the lot, a material consideration for evaluating the offering and its included real estate. The property is designated Triplex under zoning information provided for the listing.
Key Highlights
- 3,342‑square‑foot triplex property with 12 bedrooms
- Four bathrooms and a basement
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,433
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,128,660
$1.1M
Cap Rate 7%
$806,186
$806.2K
Cap Rate 9%
$627,033
$627.0K
Market Conditions
NOI Build-Up for 3,342 SF
Gross rent
$86.2K $25.80/SF
− Vacancy
−$5.6K −$1.68/SF
EGI
$80.6K $24.12/SF
− OpEx
−$24.2K −$7.24/SF
NOI
$56.4K $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 Rate 5%
$1,128,660
Cap Rate 7%
$806,186
Cap Rate 9%
$627,033
Alternative Uses
Best Use
Multifamily LT 5
$806.2K
$705.4K – $940.6K
NOI $56,433 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$724.1K
$633.6K – $844.8K
NOI $50,690 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.12M
$978.3K – $1.30M
NOI $78,266 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,538
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
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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 - The building offers four bathrooms, a basement, hardwood flooring, and electric baseboard heat.
Where is this triplex located?
The property is located at 420 Orms Street Providence, RI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,342‑square‑foot triplex property with 12 bedrooms; Four bathrooms and a basement; Built in 1900
