Two-Unit Duplex with
For Sale
$525,000
45 Alto Street, Cranston, RI 02920
Separate entrances and utility meters serve each residence.
Property Size2,739 SF
Price / SF$191.68
Days on Market11
Property Features for 45 Alto Street
General Information
Standard status
Active
Size
2,739 SF
Property subtype
MultiFamily
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
stamped concrete patio
retractable awning
fire pit
electric and water hookups
washer/dryer hookups
basement laundry
Building Details
Year Built
1920
Listing Agency:
RE/MAX ONE
(401) 943-6111
Listed By:
Heather Miller · License #RES.0048474
(860) 334-6919
Source:
Lockandkeyre
Added: Oct 3
Changed: Oct 13
Last Checked: Oct 12 at 7:19PM
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 RE/MAX ONE
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains 4 bedrooms and 2 bathrooms across 1,594 square feet. Each residence has a private entrance and separate utility meters. Improvements include vinyl siding, a roof, windows, updated electrical service, and two replacement water heaters. The first-floor residence has new tile, an updated kitchen with a gas stove, and washer and dryer hookups; the second-floor residence shares basement laundry. An unfinished basement provides storage space, and current lead certificates are in place.
The property is served by city water, sewer, and gas. Outside, the backyard includes a stamped concrete patio, retractable awning, and a designated area for a small fire pit, along with electric and water hookups. A paved driveway provides off-street parking.
The property is served by city water, sewer, and gas. Outside, the backyard includes a stamped concrete patio, retractable awning, and a designated area for a small fire pit, along with electric and water hookups. A paved driveway provides off-street parking.
Key Highlights
- 4 bedrooms and 2 bathrooms in 1,594 square feet
- Two residences, each with a separate entrance and utility meters
- Stamped concrete patio, retractable awning, and fire pit area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,606
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$912,120
$912.1K
Cap Rate 7%
$651,514
$651.5K
Cap Rate 9%
$506,733
$506.7K
Market Conditions
NOI Build-Up for 2,739 SF
Gross rent
$69.7K $25.44/SF
− Vacancy
−$4.5K −$1.65/SF
EGI
$65.2K $23.79/SF
− OpEx
−$19.5K −$7.14/SF
NOI
$45.6K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$912,120
Cap Rate 7%
$651,514
Cap Rate 9%
$506,733
Alternative Uses
Best Use
Multifamily LT 5
$651.5K
$570.1K – $760.1K
NOI $45,606 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$517.1K
$452.4K – $603.3K
NOI $36,195 @ 7.0% cap · market cap 6.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 02920, RI
37,791
Population
15,052
Households
2.5
Avg Household Size
43
Median Age
32%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
4,246
Density / Sq Mi
$79,246
Median Household Income
$51,811
Median Earnings
$1,271
Median Rent
$336,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances and utility meters serve each residence.
Where is this duplex located?
The property is located at 45 Alto Street Cranston, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 4 bedrooms and 2 bathrooms in 1,594 square feet; Two residences, each with a separate entrance and utility meters; Stamped concrete patio, retractable awning, and fire pit area
