46 Ponagansett Avenue Providence, RI 02909
MULTI_FAMILY - Providence, RI
Property Features for 46 Ponagansett Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Basement, Bedroom 1, Bedroom 4
- Parking
- 4
- Parking features
- None
- Interior features
- Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Unknown)
- Basement
- Storage Space, Full, Unfinished
- Appliances
- Gas Water Heater, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 2,152 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5901
Utilities
- Heating system
- Forced Air, Oil, Natural Gas
Building Details
- Year built
- 1926
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood, Vinyl
- Building materials
- Dry Wall, Vinyl Siding
Listing agent Melanie Ruiz (401) 333-4900
Listing office Keller Williams Leading Edge 28 Thurber Boulevard, Lincoln, RI (401) 333-4900
Listing date Jul 15, 2026
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 in Providence, the property is described as just minutes from Providence Place, Federal Hill, and Roger Williams Park, with nearby dining and shopping options. I-95 access is also noted as nearby.
With both units delivered vacant, the buyer has flexibility to move in, select tenants, or lease both units from the start.
Key Highlights
- Two‑family home built in 1926 with 4 bedrooms total, plus a basement and two bathrooms
- Each unit features 2 bedrooms, 1 full bath, and a double parlor for flexible living space
- Brand‑new kitchens and brand‑new bathrooms, with fresh paint throughout and refinished hardwood floors
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.5k | $25.80 |
| − Vacancy | −$3.6k | −$1.68 |
| EGI | $51.9k | $24.12 |
| − OpEx | −$15.6k | −$7.24 |
| NOI | $36.3k | $16.89 |
