Two-Unit Cape with Remodeled Second
For Sale
$600,000
55 Jastram Street, Providence, RI 02908
The legal two-family property combines a primary residence with a remodeled secondary unit and off-street parking.
Property Size3,100 SF
Price / SF$193.55
Days on Market11
Property Features for 55 Jastram Street
General Information
Standard status
Active
Size
3,100 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Amenities
hardwood floors
crown molding
updated kitchen
first-floor primary suite
mudroom
family room/office
finished basement with laundry area
cedar closet
large lot
perennial gardens
wraparound stone patio
off-street parking
RING camera system
Building Details
Year Built
1942
Year Renovated
2023
Buildings
1
Construction
Cape-style
Listing Agency:
Keller Williams Leading Edge
(401) 333-4900
Listed By:
Jose Pachon · License #RES.0207124
(401) 365-7996
Source:
Lockandkeyre
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 6:29PM
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 Keller Williams Leading Edge
Investment Insights
Based on property information with market context.
This 3,100-square-foot Cape-style duplex at 55 Jastram Street contains two legal dwelling units. The main residence has hardwood flooring, a living and dining area, an updated kitchen with stainless steel appliances and a center island, and a first-floor primary suite with a private bath. A mudroom, flexible family room or office, and finished basement with laundry, cedar closet, and storage add to the interior layout. The smaller unit was remodeled in 2023.
The property includes off-street parking and a wraparound stone patio, with lawn and perennial gardens on the lot. Providence College, Rhode Island College, and Roger Williams Medical Center are nearby. Electrical panels in both units were upgraded in 2023; listed 2026 improvements include a hot water system, basement flooring, dishwasher, and stove hood.
The property includes off-street parking and a wraparound stone patio, with lawn and perennial gardens on the lot. Providence College, Rhode Island College, and Roger Williams Medical Center are nearby. Electrical panels in both units were upgraded in 2023; listed 2026 improvements include a hot water system, basement flooring, dishwasher, and stove hood.
Key Highlights
- Legal two‑family property with 3,100 square feet of building area
- Smaller unit remodeled in 2023
- Electrical panels upgraded in both units in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,347
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,046,940
$1.0M
Cap Rate 7%
$747,814
$747.8K
Cap Rate 9%
$581,633
$581.6K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$80.0K $25.80/SF
− Vacancy
−$5.2K −$1.68/SF
EGI
$74.8K $24.12/SF
− OpEx
−$22.4K −$7.24/SF
NOI
$52.3K $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%
$1,046,940
Cap Rate 7%
$747,814
Cap Rate 9%
$581,633
Alternative Uses
Best Use
Multifamily LT 5
$747.8K
$654.3K – $872.5K
NOI $52,347 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$671.7K
$587.7K – $783.7K
NOI $47,019 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$1.04M
$907.5K – $1.21M
NOI $72,598 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,371
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The legal two-family property combines a primary residence with a remodeled secondary unit and off-street parking.
Where is this duplex located?
The property is located at 55 Jastram Street Providence, RI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Legal two‑family property with 3,100 square feet of building area; Smaller unit remodeled in 2023; Electrical panels upgraded in both units in 2023
