Three-Unit Multifamily
48 Calais Street Providence, RI 02908
48 Calais Street, Providence, RI, 02908
$525,000
For Sale
Under Contract
$525,000
MULTI_FAMILY - Providence, RI
Property Size2,188 SF
Lot Size0.07 Acres
Price / SF$239.95
Days on Market66
Property Features for 48 Calais Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-3
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Basement, Bedroom 2
- 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
- Hardwood, Laminate
- Building materials
- Dry Wall, Plaster, Vinyl Siding
Listing Agency
Residential Properties Ltd.
(401) 274-6740
140 Wickenden Street, RI
Listed by
Ramiro Encizo · License #RES.0042346
(401) 439-7705
Added: May 13 Checked: Jul 17 at 9:06 am
MLS# 1412474
Listing URL
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.
This well-maintained three-family property features three separate 2-bedroom units, each designed with comfortable interiors. The exterior presents with vinyl siding and curb appeal, complemented by a spacious, welcoming backyard. Recent capital improvements include newer ductless HVAC systems installed in 2022, new electric meters, a younger roof from 2018, and ongoing maintenance by the current owner.
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.
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 |
2,188 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$527.8K
$461.8K – $615.8K
NOI $36,947 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$474.1K
$414.8K – $553.1K
NOI $33,186 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$732.0K
$640.5K – $854.0K
NOI $51,240 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-family with three 2-bedroom units and recent exterior and mechanical upgrades.
Where is this triplex located?
The property is located at 48 Calais Street Providence, 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: 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
