Side-by-Side Triplex with
New
For Sale
$670,000
520 Providence Street, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size2,478 SF
Lot Size0.34 Acres
Price / SF$270.38
Days on Market2
Property Features for 520 Providence Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R75
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Basement, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Parking
8
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Attic, Stairs
Exterior features
Porch
Basement
Storage Space, Full, Unfinished
Appliances
Gas Water Heater, Dryer, Microwave, Washer
Subdivision
Westcott
Standard status
Active
Size
2,478 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7231
Utilities
Heating system
Natural Gas, Forced Air
Amenities
in-unit laundry
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Hardwood, Tile - Ceramic, Laminate, Vinyl
Building materials
Masonry, Other Siding
Listing Agency:
Re/Max New Horizons · RE/MAX International
(401) 331-8855
Listed By:
Cristina Zapata
(401) 692-5686
Added: Aug 20
Last Checked: Aug 21 at 6:06PM
MLS# 1421157
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 2,478-square-foot triplex contains three residential units in a side-by-side, townhouse-style configuration. Two units have been renovated: one includes two bedrooms, one and a half baths, and a finished basement room; the other has two bedrooms and one bath. The third two-bedroom, one-bath unit is occupied and described as being in good condition. Separate gas and electric utilities serve each unit, and all units include in-unit laundry. The property was built in 1900, has masonry construction with a stucco finish, and includes a porch. It sits on 0.3427 acres and is zoned R75. Shopping, restaurants, schools, and major highways are located nearby.
Key Highlights
- Three‑unit side‑by‑side townhouse‑style configuration
- 2,478 square feet on 0.3427 acres
- Two renovated units, including 2‑bedroom, 1.5‑bath and 2‑bedroom, 1‑bath layouts
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
$36,005
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
5.37%
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%
$720,100
$720.1K
Cap Rate 7%
$514,357
$514.4K
Cap Rate 9%
$400,056
$400.1K
Market Conditions
NOI Build-Up for 2,478 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
$55.0K $22.20/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$51.4K $20.76/SF
− OpEx
−$15.4K −$6.23/SF
NOI
$36.0K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$720,100
Cap Rate 7%
$514,357
Cap Rate 9%
$400,056
Alternative Uses
Best Use
Multifamily LT 5
$514.4K
$450.1K – $600.1K
NOI $36,005 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$472.5K
$413.5K – $551.3K
NOI $33,077 @ 7.0% cap · market cap 4.94%
Theoretical Best
Specialty Retail
$620.6K
$543.1K – $724.1K
NOI $43,444 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer separate utilities, in-unit laundry, and a townhouse-style arrangement.
Where is this triplex located?
The property is located at 520 Providence Street West Warwick, RI.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Three‑unit side‑by‑side townhouse‑style configuration; 2,478 square feet on 0.3427 acres; Two renovated units, including 2‑bedroom, 1.5‑bath and 2‑bedroom, 1‑bath layouts
