New Construction Two-Family
For Sale
$719,900
Pending
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
Days on Market55
Property Features for 50 Armington Avenue
General Information
Standard status
Pending
Size
4,320 SF
Property subtype
MultiFamily
Site & Location
Neighborhood
Mount Pleasant
Highway Access
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2025
Listing Agency:
REMAX Revolution
(401) 921-5011
Listed By:
Jessica Rebello · License #RES.0035399
(401) 327-2611
Source:
Lockandkeyre
Added: Sep 1
Changed: Oct 25
Last Checked: Oct 24 at 5:44PM
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
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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 / Yr
$65,523
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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
