Updated Two-Unit
51 Grace Street, Pawtucket, RI 02860
For Sale
New
$518,000
Separate electrical systems, driveways, and entrances provide independent setup for both residences.
Property Size2,067 SF
Price / SF$250.60
Days on Market4
Property Features for 51 Grace Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
Restaurant, Sidewalks
Window Unit(s)
Baseboard, Electric
Exterior Entry, Full, Interior Entry, Unfinished
Exhaust Fan, Electric Water Heater, Oven, Range, Refrigerator, Range Hood
Paved, No Garage
Stacked
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Homes By Connect
Listed By:
The Donovan Group
(401) 323-3546
Source:
Evrealestate
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 8:34AM
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 Homes By Connect
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Investment Insights
Based on property information with market context.
This updated duplex contains two distinct residences. The first-floor unit has three bedrooms, a renovated kitchen, and a full bathroom. The townhouse-style second unit includes an eat-in kitchen and full bathroom on its first level, with two more bedrooms upstairs. The property was built in 1860 and has received structural and interior improvements, including work to the foundation, electrical systems, insulation, and flooring. Basement features include washer and dryer hookups, storage, and access from both inside and outside the building.
Each unit has its own electrical system, driveway parking, and entrance. Highway access is available, and the MBTA commuter rail station is a 15-minute walk or a 3-minute drive away. Downtown shops are also within reach, with Blackstone Boulevard and Providence’s East Side a short drive from the property.
Each unit has its own electrical system, driveway parking, and entrance. Highway access is available, and the MBTA commuter rail station is a 15-minute walk or a 3-minute drive away. Downtown shops are also within reach, with Blackstone Boulevard and Providence’s East Side a short drive from the property.
Key Highlights
- Two residences: a three‑bedroom first‑floor unit and a townhouse‑style unit with three bedrooms
- Updated kitchens and full bathrooms in both units
- Separate electrical systems, driveway parking, and entrances for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,417
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,340
$688.3K
Cap Rate 7%
$491,671
$491.7K
Cap Rate 9%
$382,411
$382.4K
Market Conditions
NOI Build-Up for 2,067 SF
Gross rent
$52.6K $25.44/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$49.2K $23.79/SF
− OpEx
−$14.7K −$7.14/SF
NOI
$34.4K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$688,340
Cap Rate 7%
$491,671
Cap Rate 9%
$382,411
Alternative Uses
Best Use
Multifamily LT 5
$491.7K
$430.2K – $573.6K
NOI $34,417 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$390.2K
$341.4K – $455.2K
NOI $27,314 @ 7.0% cap · market cap 5.27%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,518
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Pawtucket, RI
Properties on Market for Duplexes in Pawtucket
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate electrical systems, driveways, and entrances provide independent setup for both residences.
Where is this duplex located?
The property is located at 51 Grace Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $518,000.
What are key features of this property?
This property features: Two residences: a three‑bedroom first‑floor unit and a townhouse‑style unit with three bedrooms; Updated kitchens and full bathrooms in both units; Separate electrical systems, driveway parking, and entrances for each residence
