Two-Unit Duplex with New
For Sale
$639,900
Pending
57 What Cheer Avenue, Providence, RI 02909
Providence duplex with two residential units and an expanded upper-level layout.
Property Size2,800 SF
Days on Market55
Property Features for 57 What Cheer Avenue
General Information
Standard status
Pending
Size
2,800 SF
Property subtype
MultiFamily
Site & Location
Neighborhood
Silver Lake
Additional Details
Multifamily Units
2
Building Details
Year Built
1922
Listing Agency:
RE/MAX ADVANTAGE GROUP
(401) 823-1500
Listed By:
Guillermo Hurtado · License #RES.0048708
(508) 493-9344
Source:
Lockandkeyre
Added: Sep 3
Changed: Oct 26
Last Checked: Oct 26 at 3:58PM
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 RE/MAX ADVANTAGE GROUP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1922, this 2,800-square-foot duplex is arranged as two residential units. The lower unit includes two bedrooms and one bathroom, while the upper unit provides four bedrooms and two bathrooms across a townhouse-style configuration. The property has been freshly painted and includes a brand-new roof.
Located at 57 What Cheer Avenue in Providence, the property offers a residential income configuration suited to an owner-occupant or investor. Its two-unit layout provides distinct living areas within a single multifamily building.
Located at 57 What Cheer Avenue in Providence, the property offers a residential income configuration suited to an owner-occupant or investor. Its two-unit layout provides distinct living areas within a single multifamily building.
Key Highlights
- Two‑unit duplex with 2,800 square feet
- Lower unit has 2 bedrooms and 1 bathroom
- Upper unit includes 4 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,281
Cap Rate
7.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$945,620
$945.6K
Cap Rate 7%
$675,443
$675.4K
Cap Rate 9%
$525,344
$525.3K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$72.2K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.5K $24.12/SF
− OpEx
−$20.3K −$7.24/SF
NOI
$47.3K $16.89/SF
Area
Providence, RI
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$945,620
Cap Rate 7%
$675,443
Cap Rate 9%
$525,344
Alternative Uses
Best Use
Multifamily LT 5
$675.4K
$591.0K – $788.0K
NOI $47,281 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.8K
NOI $42,469 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$936.8K
$819.7K – $1.09M
NOI $65,573 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Providence duplex with two residential units and an expanded upper-level layout.
Where is this duplex located?
The property is located at 57 What Cheer Avenue Providence, RI.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,800 square feet; Lower unit has 2 bedrooms and 1 bathroom; Upper unit includes 4 bedrooms and 2 bathrooms
