Two-Family Townhouse
55 Methyl Street Providence, RI 02906
New
For Sale
$939,000
Two-unit duplex with a 2-bedroom first-floor unit and a 5-bedroom townhouse-style unit over the upper floors.
Property Size3,377 SF
Price / SF$278.06
Days on Market7
Property Features for 55 Methyl Street
General Information
- Standard status
- Active
- Size
- 3,377 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing Agency:
Coastline Realty LLC
(401) 400-1077
Listed By:
Anna Hsiao
Source:
Lockandkeyre
Added: Jul 21
Changed: Jul 25
Last Checked: Jul 26 at 3:02PM
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 Coastline Realty LLC
Investment Insights
Based on property information with market context.
This two-family duplex includes a first-floor unit with 2 bedrooms and 1 full bathroom, plus an expansive double parlor. The kitchen features classic cherry cabinetry, granite countertops, and stainless steel appliances, and there is private laundry in the basement.
The upper unit is townhouse-style, spanning the second through third floors with 5 bedrooms and 2 full bathrooms. It offers spacious living areas on both levels, a private second-floor porch, and in-unit laundry on the third floor.
Located at 55 Methyl Street in Providence’s East Side, the property is described as being between Blackstone Boulevard, Lippitt Park, and Hope Village, with nearby neighborhood amenities and walking access to Hope Village and Blackstone Boulevard’s paths.
The upper unit is townhouse-style, spanning the second through third floors with 5 bedrooms and 2 full bathrooms. It offers spacious living areas on both levels, a private second-floor porch, and in-unit laundry on the third floor.
Located at 55 Methyl Street in Providence’s East Side, the property is described as being between Blackstone Boulevard, Lippitt Park, and Hope Village, with nearby neighborhood amenities and walking access to Hope Village and Blackstone Boulevard’s paths.
Key Highlights
- Built in 1930: two‑family duplex in Providence’s East Side
- First‑floor unit offers 2 bedrooms and 1 full bathroom
- First‑floor kitchen features cherry cabinetry, granite countertops, and stainless steel appliances
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.1k | $25.80 |
| − Vacancy | −$5.7k | −$1.68 |
| EGI | $81.5k | $24.12 |
| − OpEx | −$24.4k | −$7.24 |
| NOI | $57.0k | $16.89 |
3,377 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$814.6K
$712.8K – $950.4K
NOI $57,024 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$731.7K
$640.3K – $853.7K
NOI $51,221 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.13M
$988.6K – $1.32M
NOI $79,085 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex with a 2-bedroom first-floor unit and a 5-bedroom townhouse-style unit over the upper floors.
Where is this duplex located?
The property is located at 55 Methyl Street Providence, RI.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: Built in 1930: two‑family duplex in Providence’s East Side; First‑floor unit offers 2 bedrooms and 1 full bathroom; First‑floor kitchen features cherry cabinetry, granite countertops, and stainless steel appliances
