48 Calais Street Providence, RI 02908
MULTI_FAMILY - Providence, RI
Property Features for 48 Calais Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-3
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bathroom 2, Basement, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 1
- Parking features
- None
- Interior features
- Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Cap), Insulation (Walls)
- Basement
- Full, Unfinished, Storage Space
- Appliances
- Electric Water Heater, Dryer, Oven/Range, Refrigerator, Washer
- Standard status
- Active Under Contract
- Size
- 2,188 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6378
Utilities
- Heating system
- Electric (Heating)
- Cooling system
- Ductless
- Water source
- Public
Building Details
- Year built
- 1870
- Floors in Building
- 4
- Number of units
- 3
- Flooring type
- Laminate, Hardwood
- Building materials
- Dry Wall, Plaster, Vinyl Siding
Listing agent Ramiro Encizo License #RES.0042346 (401) 439-7705
Listing office Residential Properties Ltd. 140 Wickenden Street, RI (401) 274-6740
Listing date May 13, 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 on a quiet street in Providence’s Smith Hill neighborhood, the property is positioned for everyday convenience. The listing notes proximity to the Rhode Island Statehouse and walkability to Downtown Providence, along with easy highway access for residents and visitors.
The configuration of three 2-bedroom units can support a range of owner-occupant or investor strategies, particularly for tenants seeking established living space and operational continuity supported by documented updates. With a maintained exterior and mechanical improvements already in place, the property is presented ready for its next owner in a residential R-3 zoning setting.
Key Highlights
- 1870‑built 3‑family property with three 2‑bedroom units and multiple bedrooms and bathrooms across the home
- Newer ductless HVAC systems installed in 2022
- Roof updated in 2018 and exterior includes vinyl siding
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 | $56.5k | $25.80 |
| − Vacancy | −$3.7k | −$1.68 |
| EGI | $52.8k | $24.12 |
| − OpEx | −$15.8k | −$7.24 |
| NOI | $36.9k | $16.89 |
