Two-Unit Duplex with Rear
New
For Sale
$530,000
47 Sibyl Street, Providence, RI 02909
Separate entrances, hardwood floors, and off-street parking serve the two residences.
Property Size1,375 SF
Price / SF$385.45
Days on Market5
Property Features for 47 Sibyl Street
General Information
Standard status
Active
Size
1,375 SF
Property subtype
MultiFamily
Building Details
Year Built
1920
Listing Agency:
Keller Williams Leading Edge
(401) 333-4900
Listed By:
Jose Diaz · License #RES.0035354
(401) 261-8747
Source:
Lockandkeyre
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 3:10PM
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 Keller Williams Leading Edge
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two residences with separate entrances. Both units have hardwood floors in living areas and bedrooms, oak-cabinet kitchens, and full bathrooms with period tilework. The upper kitchen also has a tile backsplash, and baseboard heat serves the upper level. A rear deck, fenced yard, mature trees, and off-street parking are among the property’s exterior features. An ADT security system is installed.
The corner-lot property is in Providence’s Silver Lake neighborhood, with access to public transit, major highways, schools, and local shopping. Its two-unit layout and separate access points define the property’s practical configuration.
The corner-lot property is in Providence’s Silver Lake neighborhood, with access to public transit, major highways, schools, and local shopping. Its two-unit layout and separate access points define the property’s practical configuration.
Key Highlights
- Two‑unit property built in 1920
- Separate entrances for the two residences
- Hardwood flooring in both units’ living areas and bedrooms
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
$23,218
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
4.38%
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%
$464,360
$464.4K
Cap Rate 7%
$331,686
$331.7K
Cap Rate 9%
$257,978
$258.0K
Market Conditions
NOI Build-Up for 1,375 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
$35.5K $25.80/SF
− Vacancy
−$2.3K −$1.68/SF
EGI
$33.2K $24.12/SF
− OpEx
−$10.0K −$7.24/SF
NOI
$23.2K $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%
$464,360
Cap Rate 7%
$331,686
Cap Rate 9%
$257,978
Alternative Uses
Best Use
Multifamily LT 5
$331.7K
$290.2K – $387.0K
NOI $23,218 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$297.9K
$260.7K – $347.6K
NOI $20,855 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$460.0K
$402.5K – $536.7K
NOI $32,201 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances, hardwood floors, and off-street parking serve the two residences.
Where is this duplex located?
The property is located at 47 Sibyl Street Providence, RI.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit property built in 1920; Separate entrances for the two residences; Hardwood flooring in both units’ living areas and bedrooms
