Three-Unit Triplex with Central
New
For Sale
$875,000
549 Douglas Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size3,600 SF
Lot Size0.07 Acres
Price / SF$243.06
Days on Market4
Property Features for 549 Douglas Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 5, Bathroom 6, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 9, Bathroom 4
Parking
4
Parking features
None
Interior features
Plumbing (Mixed), Plumbing (PVC)
Basement
Unfinished, Full
Appliances
Gas Water Heater
Subdivision
Pc
Standard status
Active
Size
3,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Building Details
Year built
2026
Number of units
3
Flooring type
Laminate
Building materials
Vinyl Siding
Listing Agency:
Re/Max Properties · RE/MAX International
(401) 232-3900
Listed By:
Kenneth Scotti · License #REB.0016785
(401) 354-4971
Added: Oct 2
Last Checked: Oct 5 at 6:06PM
MLS# 1424912
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.
Under construction at 549 Douglas Avenue, this triplex is planned with three residences, each offering approximately 1,200 square feet, three bedrooms, and two full bathrooms. The 3,600-square-foot building is designed with central air, natural gas heat, separate utilities, and a dedicated house meter. Vinyl siding and an unfinished basement with walkout access are also part of the property. Estimated completion is late 2026 or January 2027.
The property is within walking distance of Providence College. The site measures 0.0735 acres, and parking is not provided.
The property is within walking distance of Providence College. The site measures 0.0735 acres, and parking is not provided.
Key Highlights
- Three units, each with approximately 1,200 square feet, 3 bedrooms, and 2 full bathrooms
- 3,600‑square‑foot building on a 0.0735‑acre lot
- Central air and natural gas heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,790
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,215,800
$1.2M
Cap Rate 7%
$868,429
$868.4K
Cap Rate 9%
$675,444
$675.4K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$92.9K $25.80/SF
− Vacancy
−$6.0K −$1.68/SF
EGI
$86.8K $24.12/SF
− OpEx
−$26.1K −$7.24/SF
NOI
$60.8K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,215,800
Cap Rate 7%
$868,429
Cap Rate 9%
$675,444
Alternative Uses
Best Use
Multifamily LT 5
$868.4K
$759.9K – $1.01M
NOI $60,790 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$780.0K
$682.5K – $910.1K
NOI $54,603 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,308 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
870
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
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Frequently Asked Questions
What type of property is this?
Triplex - Under-construction property offers separate utilities and a walkout basement for storage.
Where is this triplex located?
The property is located at 549 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three units, each with approximately 1,200 square feet, 3 bedrooms, and 2 full bathrooms; 3,600‑square‑foot building on a 0.0735‑acre lot; Central air and natural gas heat
