Building Details

Year Built 1930

Listing Agency: REMAX Revolution Show Phone

Listed By: Adam Cardinal · License #RES.0035208 Show Phone

Source: Lockandkeyre

Added: Oct 5 Changed: Oct 13 Last Checked: Oct 12 at 7:34PM

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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 REMAX Revolution

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,854

Cap Rate

8.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$917,080 $917.1K

Cap Rate 7%

$655,057 $655.1K

Cap Rate 9%

$509,489 $509.5K

Market Conditions

NOI Build-Up for 3,470 SF

Gross rent

$88.7K $25.56/SF

− Vacancy

−$5.3K −$1.53/SF

EGI

$83.4K $24.03/SF

− OpEx

−$37.5K −$10.81/SF

NOI

$45.9K $13.21/SF

Area

Providence County, RI

Vacancy

6.00%

Lease Rate

$25.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$917,080

Cap Rate 7%

$655,057

Cap Rate 9%

$509,489

Alternative Uses

Best Use

Multifamily LT 5

$825.4K

$722.2K – $963.0K (±1% cap)

NOI $57,777 @ 7.0% cap · market cap 10.66%

Second Best

Apartment 5plus

$655.1K

$573.2K – $764.2K (±1% cap)

NOI $45,854 @ 7.0% cap · market cap 8.46%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage HVAC Service Skin Care Clinic Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

490

Businesses Nearby

Explore this area Business Placement

Demographics for 02861, RI

27,833

Population

11,928

Households

2.3

Avg Household Size

40

Median Age

20%

College-Educated

87%

High-School Grad

3.6 sq mi

ZIP Area

7,731

Density / Sq Mi

$83,044

Median Household Income

$47,384

Median Earnings

$1,278

Median Rent

$285,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

Where is this duplex located?

The property is located at 487 Grand Avenue Pawtucket, RI.

What is the asking price?

The asking price for this property is $542,000.