Duplex with Front
For Sale
$469,999
55 Lexington Avenue, North Providence, RI 02904
Residential Income, North Providence, RI
Property Size2,501 SF
Lot Size0.21 Acres
Price / SF$187.92
Days on Market113
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
Bedroom 1, Bathroom 2, Basement, Bedroom 2, Bathroom 1
Parking
7
Parking features
None
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), 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)
Amenities
front porch
storage shed
deck
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Carpet, Vinyl, Hardwood
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: Jun 15
Changed: Oct 4
Last Checked: Oct 5 at 8:06PM
MLS# 1415306
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 separate residences and sits on a 0.2066-acre lot. The first-floor unit has an eat-in kitchen, living room, full bath, and bedroom. Upstairs, the layout includes an eat-in kitchen, full bath, bedroom, and a dining or living room that could also serve as a second bedroom. Wall-mounted air-conditioning units are present in both residences, and the property includes a front porch and storage shed.
Both units will be vacant at closing. Residents pay their own utilities. The property is connected to town water and sewer, and its zoning is RL10. The roof is approximately 6 years old; gutters with guards were installed 2 years ago.
Both units will be vacant at closing. Residents pay their own utilities. The property is connected to town water and sewer, and its zoning is RL10. The roof is approximately 6 years old; gutters with guards were installed 2 years ago.
Key Highlights
- Two‑unit duplex with 2,501 square feet of living area
- 0.2066‑acre lot
- Both units will be vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,643
Cap Rate
8.86%
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 8.86%
Second Best
Apartment 5plus
$472.1K
$413.1K – $550.8K
NOI $33,050 @ 7.0% cap · market cap 7.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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
Check the figures for this property
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 residences will be vacant at closing, giving the next owner flexibility to occupy one or both units.
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 $469,999.
What are key features of this property?
This property features: Two‑unit duplex with 2,501 square feet of living area; 0.2066‑acre lot; Both units will be vacant at closing
