2-Unit Duplex with Covered
New
For Sale
$459,999
55 Lexington Avenue, North Providence, RI 02904
Residential Income, North Providence, RI
Property Size2,501 SF
Lot Size0.21 Acres
Price / SF$183.93
Days on Market3
Property Features for 55 Lexington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL10
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 1, Basement, Bedroom 2
Parking
7
Parking features
None
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Insulation (None)
Exterior features
Porch
Basement
Full, Unfinished, Storage Space
Appliances
Dishwasher, Dryer, Disposal, Oven, Range, Refrigerator, Gas Water Heater
Lot features
Out Building, Paved Driveway
Standard status
Active
Size
2,501 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5402
Utilities
Heating system
Natural Gas, Baseboard
Cooling system
Wall Unit(s)
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Carpet, Hardwood, Tile - Ceramic, Vinyl
Building materials
Dry Wall, Plaster, Vinyl Siding
Additional Structures
None
Listing Agency:
Re/Max Town & Country · RE/MAX International
(401) 333-0020
Listed By:
Blanchet Group
(401) 335-3344
Added: Oct 11
Changed: Oct 12
Last Checked: Oct 13 at 2:06PM
MLS# 1425700
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 2,501-square-foot duplex, built in 1900, contains two apartments on a 0.2066-acre lot. The first-floor unit has an eat-in kitchen, living room, bedroom, and full bath; hardwood flooring and two built-in air-conditioning units are among its features. Upstairs, the layout includes an eat-in kitchen, full bath, bedroom, and a dining room or living room that could serve as a second bedroom. New carpet is installed in the living areas, and the second-floor unit also has a deck and exterior stairs.
A front porch, storage shed, mature plantings, and yard are part of the property. The roof is approximately 6 years old, and gutters with guards were installed 2 years ago. The property is connected to town water and sewer and is zoned RL10. Both units are expected to be vacant at closing.
A front porch, storage shed, mature plantings, and yard are part of the property. The roof is approximately 6 years old, and gutters with guards were installed 2 years ago. The property is connected to town water and sewer and is zoned RL10. Both units are expected to be vacant at closing.
Key Highlights
- Two‑unit residential property with 2,501 square feet of building area
- 0.2066‑acre lot with yard, mature plantings, porch, and storage shed
- Both units are scheduled to be vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,643
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$832,860
$832.9K
Cap Rate 7%
$594,900
$594.9K
Cap Rate 9%
$462,700
$462.7K
Market Conditions
NOI Build-Up for 2,501 SF
Gross rent
$63.6K $25.44/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$59.5K $23.79/SF
− OpEx
−$17.8K −$7.14/SF
NOI
$41.6K $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%
$832,860
Cap Rate 7%
$594,900
Cap Rate 9%
$462,700
Alternative Uses
Best Use
Multifamily LT 5
$594.9K
$520.5K – $694.1K
NOI $41,643 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$472.1K
$413.1K – $550.8K
NOI $33,050 @ 7.0% cap · market cap 7.18%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
762
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Both apartments are scheduled to be vacant at closing, allowing a new owner to determine how to occupy or lease them.
Where is this duplex located?
The property is located at 55 Lexington Avenue North Providence, RI.
What is the asking price?
The asking price for this property is $459,999.
What are key features of this property?
This property features: Two‑unit residential property with 2,501 square feet of building area; 0.2066‑acre lot with yard, mature plantings, porch, and storage shed; Both units are scheduled to be vacant at closing
