Two-Family Residential Income
57-59 Forest Street Providence, RI 02906
57-59 Forest Street, Providence, RI, 02906
$1,149,000
For Sale
$1,149,000
Well-maintained two-family with updated first-floor features and a fully renovated second-floor unit, plus deck and backyard access.
Property Size2,681 SF
Price / SF$428.57
Days on Market53
Property Features for 57-59 Forest Street
General Information
- Standard status
- Active
- Size
- 2,681 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Premier Realty Group - Lexington
(617) 795-6096
Listed by
Nayeong Cho
Source
Eganrealtygroup
Added: Jun 1 Updated: Jul 21 at 4:40AM Checked: Jul 22 at 7:29AM
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 Premier Realty Group - Lexington
Investment Insights
Based on property information with market context.
This well-maintained two-family property offers two separate residential units at 57-59 Forest Street. The first-floor unit includes 2 bedrooms and 1 full bathroom, with an updated kitchen, bright living and dining areas, and direct access to a spacious deck and landscaped backyard.
The second-floor unit has been fully renovated and provides 4 bedrooms and 2 full bathrooms with modern finishes throughout.
Positioned in a convenient Providence setting, the property is about one mile from Brown University and is close to hospitals, shopping, dining, parks, and public transportation.
The second-floor unit has been fully renovated and provides 4 bedrooms and 2 full bathrooms with modern finishes throughout.
Positioned in a convenient Providence setting, the property is about one mile from Brown University and is close to hospitals, shopping, dining, parks, and public transportation.
Key Highlights
- Well‑maintained two‑family home built in 1900
- First‑floor unit: 2 bedrooms, 1 full bathroom, updated kitchen, bright living and dining areas
- First‑floor offers direct access to a spacious deck and landscaped backyard
Local 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 | $69.2k | $25.80 |
| − Vacancy | −$4.5k | −$1.68 |
| EGI | $64.7k | $24.12 |
| − OpEx | −$19.4k | −$7.24 |
| NOI | $45.3k | $16.89 |
2,681 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$646.7K
$565.9K – $754.5K
NOI $45,272 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.7K
NOI $40,664 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$896.9K
$784.8K – $1.05M
NOI $62,786 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family with updated first-floor features and a fully renovated second-floor unit, plus deck and backyard access.
Where is this duplex located?
The property is located at 57-59 Forest Street Providence, RI.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1900; First‑floor unit: 2 bedrooms, 1 full bathroom, updated kitchen, bright living and dining areas; First‑floor offers direct access to a spacious deck and landscaped backyard
