Duplex with Fenced
47 Luna Street, Providence, RI 02904
For Sale
$545,000
One residence is occupied, while the second is vacant and available for occupancy or a new tenant.
Property Size2,214 SF
Price / SF$246.16
Days on Market23
Property Features for 47 Luna Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
upgraded kitchens and baths
hardwood floors
newer appliances
fully fenced yard
Building Details
Year Built
Listing Agency:
The Q Group Realty
(401) 742-1858
Listed By:
Annmarie Sawyer · License RI RES.0044047
(508) 837-0540
Source:
Lockandkeyre
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 6:06AM
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
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Investment Insights
Based on property information with market context.
Built in 1880, this two-unit property has 2 bedrooms and 1 full bathroom in each residence. Both units feature updated kitchens and bathrooms, newer appliances, hardwood flooring, and natural light. One unit is occupied; the other is vacant. Recent property work includes a newer roof, windows, and hot water heaters, along with fresh exterior paint.
The grounds include a fully enclosed yard.
The grounds include a fully enclosed yard.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- One unit occupied and one vacant
- Updated kitchens and bathrooms, newer appliances, and hardwood floors in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,386
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,720
$747.7K
Cap Rate 7%
$534,086
$534.1K
Cap Rate 9%
$415,400
$415.4K
Market Conditions
NOI Build-Up for 2,214 SF
Gross rent
$57.1K $25.80/SF
− Vacancy
−$3.7K −$1.68/SF
EGI
$53.4K $24.12/SF
− OpEx
−$16.0K −$7.24/SF
NOI
$37.4K $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%
$747,720
Cap Rate 7%
$534,086
Cap Rate 9%
$415,400
Alternative Uses
Best Use
Multifamily LT 5
$534.1K
$467.3K – $623.1K
NOI $37,386 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$479.7K
$419.8K – $559.7K
NOI $33,581 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$740.7K
$648.1K – $864.2K
NOI $51,849 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
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Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Providence, RI
Properties on Market for Duplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied, while the second is vacant and available for occupancy or a new tenant.
Where is this duplex located?
The property is located at 47 Luna Street Providence, RI.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; One unit occupied and one vacant; Updated kitchens and bathrooms, newer appliances, and hardwood floors in both units
