Updated
For Sale
$650,000
43 Jenkins Street, Providence, RI 02906
Residential Income, Providence, RI
Property Size2,700 SF
Lot Size0.12 Acres
Price / SF$240.74
Days on Market95
Property Features for 43 Jenkins Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Basement
Parking
6
Parking features
None
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active
Size
2,700 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4363
Utilities
Heating system
Natural Gas, Baseboard
Amenities
off-street parking
Building Details
Year built
1900
Number of units
3
Flooring type
Laminate
Building materials
Vinyl Siding
Listing Agency:
Century 21 Limitless · Century 21 Real Estate
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
(508) 726-3492
Added: May 24
Changed: Aug 20
Last Checked: Aug 26 at 7:06AM
MLS# 1413443
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.
This Providence triplex contains three one-bedroom, one-bathroom units within approximately 2,700 square feet. Recent work includes updated kitchens, new flooring, electrical improvements, fresh paint, new vinyl siding, a new roof, and a newly paved driveway. The property also includes a basement, laminate flooring, natural gas baseboard heat, and a gas water heater.
Set on a 0.12-acre lot in Providence, the property is positioned near major highways, public transportation, shopping, and local amenities. The 1900-built residence combines a three-unit configuration with a broad set of recent interior and exterior improvements.
Set on a 0.12-acre lot in Providence, the property is positioned near major highways, public transportation, shopping, and local amenities. The 1900-built residence combines a three-unit configuration with a broad set of recent interior and exterior improvements.
Key Highlights
- Three units, each with 1 bedroom and 1 full bathroom
- Approximately 2,700 square feet on a 0.12‑acre lot
- Updated kitchens, new flooring, electrical work, and fresh paint
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
$45,592
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
7.01%
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%
$911,840
$911.8K
Cap Rate 7%
$651,314
$651.3K
Cap Rate 9%
$506,578
$506.6K
Market Conditions
NOI Build-Up for 2,700 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
$69.7K $25.80/SF
− Vacancy
−$4.5K −$1.68/SF
EGI
$65.1K $24.12/SF
− OpEx
−$19.5K −$7.24/SF
NOI
$45.6K $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%
$911,840
Cap Rate 7%
$651,314
Cap Rate 9%
$506,578
Alternative Uses
Best Use
Multifamily LT 5
$651.3K
$569.9K – $759.9K
NOI $45,592 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$585.0K
$511.9K – $682.5K
NOI $40,952 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$903.3K
$790.4K – $1.05M
NOI $63,231 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,688
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
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?
Triplex - Renovated kitchens, refreshed interiors, and major exterior improvements support residential income use.
Where is this triplex located?
The property is located at 43 Jenkins Street Providence, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three units, each with 1 bedroom and 1 full bathroom; Approximately 2,700 square feet on a 0.12‑acre lot; Updated kitchens, new flooring, electrical work, and fresh paint
