Two-Unit Property with
For Sale
$525,000
Pending
53 Sylvia Avenue, North Providence, RI 02911
Vacant duplex with distinct layouts, shared heating, outdoor amenities, and flexible occupancy options.
Property Size1,961 SF
Days on Market48
Property Features for 53 Sylvia Avenue
General Information
Standard status
Pending
Size
1,961 SF
Total Parking Spaces
2
Property subtype
MultiFamily
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Amenities
enclosed porch
in-unit laundry
walk out lower level
outdoor shed
pergola
brick patios
Building Details
Year Built
1929
Listing Agency:
BHHS Pinnacle Realty
(401) 331-3948
Listed By:
Joseph Mullen · License #RES.0040363
(401) 486-3484
Source:
Lockandkeyre
Added: Aug 31
Changed: Oct 16
Last Checked: Oct 16 at 8:44AM
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 BHHS Pinnacle Realty
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Investment Insights
Based on property information with market context.
Built in 1929, this vacant duplex contains two separate units with different configurations. The first-floor residence offers one bedroom, living and dining areas, hardwood flooring, an enclosed porch, and in-unit laundry. Upstairs, the second unit includes three bedrooms, a spacious living area, and an eat-in kitchen. Original woodwork and architectural features remain throughout, while a recently installed shared heating system adds a notable building improvement.
Additional amenities include a walk-out lower level, detached two-car garage, outdoor shed, pergola, and brick patios. The property is positioned near shopping, dining, highways, and daily amenities in the Fruit Hill neighborhood. With both residences unoccupied, the next owner can select a unit for personal use or establish a new occupancy plan for the duplex.
Additional amenities include a walk-out lower level, detached two-car garage, outdoor shed, pergola, and brick patios. The property is positioned near shopping, dining, highways, and daily amenities in the Fruit Hill neighborhood. With both residences unoccupied, the next owner can select a unit for personal use or establish a new occupancy plan for the duplex.
Key Highlights
- Two vacant residential units with one‑bedroom and three‑bedroom layouts
- Detached two‑car garage plus walk‑out lower level
- Recently installed shared heating system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,652
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,040
$653.0K
Cap Rate 7%
$466,457
$466.5K
Cap Rate 9%
$362,800
$362.8K
Market Conditions
NOI Build-Up for 1,961 SF
Gross rent
$49.9K $25.44/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$46.6K $23.79/SF
− OpEx
−$14.0K −$7.14/SF
NOI
$32.7K $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%
$653,040
Cap Rate 7%
$466,457
Cap Rate 9%
$362,800
Alternative Uses
Best Use
Multifamily LT 5
$466.5K
$408.2K – $544.2K
NOI $32,652 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$370.2K
$323.9K – $431.9K
NOI $25,914 @ 7.0% cap · market cap 4.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 02911, RI
16,384
Population
6,894
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
2.5 sq mi
ZIP Area
6,554
Density / Sq Mi
$85,803
Median Household Income
$53,209
Median Earnings
$1,480
Median Rent
$319,300
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 - Vacant duplex with distinct layouts, shared heating, outdoor amenities, and flexible occupancy options.
Where is this duplex located?
The property is located at 53 Sylvia Avenue North Providence, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two vacant residential units with one‑bedroom and three‑bedroom layouts; Detached two‑car garage plus walk‑out lower level; Recently installed shared heating system
