Two-Unit Duplex with Front
New
For Sale
$459,999
55 Lexington Ave, North Providence, RI 02904
Residential Income, North Providence, RI
Property Size1,436 SF
Lot Size0.21 Acres
Price / SF$320.33
Days on Market3
Property Features for 55 Lexington Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL10
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking
7
Directions
see GPS
Standard status
Active
APN
M:5 L:411,632416
Size
1,436 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5402
Amenities
front porch
storage shed
yard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Town & Country · RE/MAX International
(401) 333-0020
Listed By:
A. Ranger Curran · License #011491NH
(603) 357-4100
Added: Oct 11
Changed: Oct 12
Last Checked: Oct 13 at 2:06PM
MLS# 73589442
Copyright © 2026 MLS Property Information Network 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 1,436-square-foot duplex contains two apartments, each with an eat-in kitchen and full bathroom. The first-floor unit also has a living room and bedroom; the upper apartment includes a bedroom and a dining/living room that could serve as a second bedroom. Built-in air conditioning is present in both units, and the first-floor living room has hardwood flooring. The property was built in 1900 and has a front porch, yard, storage shed, and driveway parking.
The 0.2066-acre parcel is zoned RL10 and connected to town water and sewer. Both apartments are expected to be vacant at closing. Recent work includes a roof approximately 6 years old and gutters with guards installed 2 years ago.
The 0.2066-acre parcel is zoned RL10 and connected to town water and sewer. Both apartments are expected to be vacant at closing. Recent work includes a roof approximately 6 years old and gutters with guards installed 2 years ago.
Key Highlights
- Two‑unit duplex with 1,436 square feet of building area
- 0.2066‑acre lot zoned RL10
- Both apartments expected to be vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,910
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,200
$478.2K
Cap Rate 7%
$341,571
$341.6K
Cap Rate 9%
$265,667
$265.7K
Market Conditions
NOI Build-Up for 1,436 SF
Gross rent
$36.5K $25.44/SF
− Vacancy
−$2.4K −$1.65/SF
EGI
$34.2K $23.79/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.9K $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%
$478,200
Cap Rate 7%
$341,571
Cap Rate 9%
$265,667
Alternative Uses
Best Use
Multifamily LT 5
$341.6K
$298.9K – $398.5K
NOI $23,910 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$271.1K
$237.2K – $316.3K
NOI $18,976 @ 7.0% cap · market cap 4.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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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
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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?
Duplex - Both apartments are expected to be vacant at closing, leaving occupancy decisions to the next owner.
Where is this duplex located?
The property is located at 55 Lexington Ave 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 duplex with 1,436 square feet of building area; 0.2066‑acre lot zoned RL10; Both apartments expected to be vacant at closing
