Updated Two-Family
For Sale
$600,000
55 Jastram Street, Providence, RI 02908
Residential Income, Providence, RI
Property Size3,100 SF
Lot Size0.23 Acres
Price / SF$193.55
Days on Market11
Property Features for 55 Jastram Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 4, Basement
Parking
4
Parking features
None
Interior features
Wall (Dry Wall), Stairs, Plumbing (Copper), Insulation (Unknown)
Fireplace
1
Basement
Full, Finished
Appliances
Gas Water Heater
Subdivision
Elmhurst
Lot features
Paved Driveway, Sidewalks
Standard status
Active
Size
3,100 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8072
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Natural Gas
Amenities
laundry area
patio
RING camera system
Building Details
Year built
1942
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Tile - Ceramic, Laminate
Building materials
Dry Wall, Shingles
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Jose Pachon · License #RES.0207124
(401) 365-7996
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 6:06PM
MLS# 1424342
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 1942 Cape-style duplex contains 3,100 square feet on a 0.23-acre lot and is zoned R-1. The primary residence includes hardwood flooring, a living and dining area, an updated kitchen with stainless steel appliances and a center island, and a first-floor bedroom suite with a private bath. A mudroom, family room or office, and finished basement with laundry and storage round out the interior. The smaller unit was remodeled in 2023, and electrical panels in both units were upgraded that year. The property also has a fireplace, gas water heater, and wraparound stone patio.
The home is in Providence’s Elmhurst neighborhood, near Providence College, Rhode Island College, and Roger Williams Medical Center. Public sewer serves the property. Recent improvements listed for 2026 include a hot water system, basement flooring, dishwasher, and stove hood.
The home is in Providence’s Elmhurst neighborhood, near Providence College, Rhode Island College, and Roger Williams Medical Center. Public sewer serves the property. Recent improvements listed for 2026 include a hot water system, basement flooring, dishwasher, and stove hood.
Key Highlights
- Legal two‑family property with a remodeled smaller unit
- 3,100 square feet on a 0.23‑acre lot
- Electrical panels in both units upgraded 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 - A remodeled secondary unit and finished basement add flexibility to this residential income property.
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 a remodeled smaller unit; 3,100 square feet on a 0.23‑acre lot; Electrical panels in both units upgraded in 2023
