Updated Two-Family
For Sale
$564,900
57 Everett Street, Pawtucket, RI 02861
Four-bedroom property with flexible living space, outdoor entertaining areas, and a private backyard setting.
Property Size3,128 SF
Days on Market9
Property Features for 57 Everett Street
General Information
Standard status
Active
Size
3,128 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,466
Amenities
deck
pergola
garden area
fruit trees
storage shed
Building Details
Building Size
3,128 SF
Year Built
1920
Buildings
1
Stories
2
Units
2
Listing Agency:
REMAX Revolution
(401) 219-6664
Listed By:
Lina Miranda
(401) 219-6664
Source:
Liongatere
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 11 at 2:55PM
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 REMAX Revolution
Investment Insights
Based on property information with market context.
Built in 1920, this updated duplex contains two residential units with a combined layout of four bedrooms and two full bathrooms. Both units include comfortable living areas, bedrooms, and functional everyday spaces. An additional flexible room can serve as an office, guest bedroom, formal dining area, or sunroom, with direct access to the outdoor deck.
The property includes a private backyard with a large deck, pergola, garden area, fruit trees, and storage shed. Located at 57 Everett Street in Pawtucket’s Darlington neighborhood, the home is near Slater Park and the Ten-Mile River Greenway. The two-unit configuration supports owner occupancy, multigenerational living, or separate rental use, as described for the property.
The property includes a private backyard with a large deck, pergola, garden area, fruit trees, and storage shed. Located at 57 Everett Street in Pawtucket’s Darlington neighborhood, the home is near Slater Park and the Ten-Mile River Greenway. The two-unit configuration supports owner occupancy, multigenerational living, or separate rental use, as described for the property.
Key Highlights
- Two‑family duplex with 4 bedrooms and 2 full bathrooms
- Updated property built in 1920
- Flexible additional room with direct access to the outdoor deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,335
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$826,700
$826.7K
Cap Rate 7%
$590,500
$590.5K
Cap Rate 9%
$459,278
$459.3K
Market Conditions
NOI Build-Up for 3,128 SF
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.
Gross rent
$80.0K $25.56/SF
− Vacancy
−$4.8K −$1.53/SF
EGI
$75.2K $24.03/SF
− OpEx
−$33.8K −$10.81/SF
NOI
$41.3K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$826,700
Cap Rate 7%
$590,500
Cap Rate 9%
$459,278
Alternative Uses
Best Use
Multifamily LT 5
$744.0K
$651.0K – $868.1K
NOI $52,083 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$590.5K
$516.7K – $688.9K
NOI $41,335 @ 7.0% cap · market cap 7.32%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Four-bedroom property with flexible living space, outdoor entertaining areas, and a private backyard setting.
Where is this duplex located?
The property is located at 57 Everett Street Pawtucket, RI.
What is the asking price?
The asking price for this property is $564,900.
What are key features of this property?
This property features: Two‑family duplex with 4 bedrooms and 2 full bathrooms; Updated property built in 1920; Flexible additional room with direct access to the outdoor deck
