New Construction Two-Family
New
For Sale
$719,900
50 Armington Avenue, Providence, RI 02908
Completed two-unit property with spacious layouts, energy-efficient construction, and convenient access to Providence amenities.
Property Size4,320 SF
Price / SF$166.64
Days on Market4
Property Features for 50 Armington Avenue
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2025
Listing Agency:
REMAX Revolution
Listed By:
Jessica Rebello · License #24441
(401) 327-2611
Source:
Onshorerealtors
Added: Sep 2
Last Checked: Sep 4 at 2:41AM
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
Investment Insights
Based on property information with market context.
Completed in 2025, this two-family property contains 4,320 square feet and is ready for occupancy. Each residence offers three bedrooms, two full bathrooms, an open floor plan, and generous living areas. Energy-efficient construction and contemporary finishes support comfortable use for both residents and tenants.
The property is located at 50 Armington Avenue in Providence, with convenient highway access and proximity to shops, restaurants, entertainment, and cultural attractions. The design also allows for possible future development of an ADU, subject to applicable approvals.
The property is located at 50 Armington Avenue in Providence, with convenient highway access and proximity to shops, restaurants, entertainment, and cultural attractions. The design also allows for possible future development of an ADU, subject to applicable approvals.
Key Highlights
- 4,320‑square‑foot duplex completed in 2025
- Two units, each with 3 bedrooms and 2 full bathrooms
- Open floor plans with generous living areas
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
$65,523
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
9.10%
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%
$1,310,460
$1.3M
Cap Rate 7%
$936,043
$936.0K
Cap Rate 9%
$728,033
$728.0K
Market Conditions
NOI Build-Up for 4,320 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
$127.0K $29.40/SF
− Vacancy
−$7.9K −$1.82/SF
EGI
$119.1K $27.58/SF
− OpEx
−$53.6K −$12.41/SF
NOI
$65.5K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,310,460
Cap Rate 7%
$936,043
Cap Rate 9%
$728,033
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$911.9K – $1.22M
NOI $72,948 @ 7.0% cap · market cap 10.13%
Second Best
Apartment 5plus
$936.0K
$819.0K – $1.09M
NOI $65,523 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$1.45M
$1.26M – $1.69M
NOI $101,169 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Completed two-unit property with spacious layouts, energy-efficient construction, and convenient access to Providence amenities.
Where is this duplex located?
The property is located at 50 Armington Avenue Providence, RI.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: 4,320‑square‑foot duplex completed in 2025; Two units, each with 3 bedrooms and 2 full bathrooms; Open floor plans with generous living areas
