Updated Two-Family
For Sale
$517,000
435 Broadway East, Providence, RI 02914
Two-unit residential property with separate utilities, refreshed appliances, a fenced yard, and off-street parking.
Property Size2,007 SF
Price / SF$257.60
Days on Market144
Property Features for 435 Broadway East
General Information
Standard status
Active
Size
2,007 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
fenced-in backyard
Fireplace
Baseboard
Hot Water
Oil
Steam
Oil Water Heater
Water Heater
Sewer Connected
Building Details
Year Built
1930
Buildings
1
Stories
2
Listing Agency:
The Q Group Realty
Listed By:
Christy Querceto
(401) 742-1858
Source:
Kw
Added: Apr 21
Changed: Sep 10
Last Checked: Sep 9 at 8:31PM
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 The Q Group Realty
Investment Insights
Based on property information with market context.
This 2,007-square-foot duplex, built in 1930, contains two residential units, each with 2 bedrooms and 1 full bathroom. Both units have updated appliances, separate utilities, natural-light-filled interiors, and heating that includes baseboard and steam systems. A newer roof adds to the property's recent improvements, while the connected sewer service supports the existing residential use.
The property includes a large fenced backyard and off-street parking for up to 4 vehicles. Its location near the Rumford line provides access to the Henderson Bridge, the East Side of Providence, shopping, cafes, and restaurants, with highway access suited to commuting. The home also includes a fireplace and oil-fired water heating equipment.
The property includes a large fenced backyard and off-street parking for up to 4 vehicles. Its location near the Rumford line provides access to the Henderson Bridge, the East Side of Providence, shopping, cafes, and restaurants, with highway access suited to commuting. The home also includes a fireplace and oil-fired water heating equipment.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 full bathroom
- 2,007 square feet of living space
- Separate utilities for 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
$33,890
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
6.56%
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%
$677,800
$677.8K
Cap Rate 7%
$484,143
$484.1K
Cap Rate 9%
$376,556
$376.6K
Market Conditions
NOI Build-Up for 2,007 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
$51.8K $25.80/SF
− Vacancy
−$3.4K −$1.68/SF
EGI
$48.4K $24.12/SF
− OpEx
−$14.5K −$7.24/SF
NOI
$33.9K $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%
$677,800
Cap Rate 7%
$484,143
Cap Rate 9%
$376,556
Alternative Uses
Best Use
Multifamily LT 5
$484.1K
$423.6K – $564.8K
NOI $33,890 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$434.9K
$380.5K – $507.4K
NOI $30,441 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$671.5K
$587.5K – $783.4K
NOI $47,002 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
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 - Two-unit residential property with separate utilities, refreshed appliances, a fenced yard, and off-street parking.
Where is this duplex located?
The property is located at 435 Broadway East Providence, RI.
What is the asking price?
The asking price for this property is $517,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 full bathroom; 2,007 square feet of living space; Separate utilities for each unit
