Townhouse-Style
For Sale
$639,900
Pending
57 What Cheer Avenue, Providence, RI 02909
Residential Income, Providence, RI
Property Size2,800 SF
Lot Size0.06 Acres
Days on Market55
Property Features for 57 What Cheer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Basement, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 1
Parking
5
Parking features
None
Interior features
Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Basement
Partially Finished, Full
Appliances
Dryer, Oven, Range, Refrigerator, Washer, Gas Water Heater
Standard status
Pending
Size
2,800 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4116
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1922
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Laminate
Building materials
Plaster, Wood
Listing Agency:
Re/Max Advantage Group · RE/MAX International
(401) 823-1500
Listed By:
Guillermo Hurtado
(508) 493-9344
Added: Sep 3
Changed: Oct 24
Last Checked: Oct 27 at 4:06AM
MLS# 1422314
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.
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Investment Insights
Based on property information with market context.
This two-family property contains 2,800 square feet on a 0.0597-acre lot. Each floor has two bedrooms and one bathroom; the upper-level space continues in a townhouse-style layout with two additional bedrooms and another bathroom. The property has a new roof and fresh interior paint, with ceramic tile and laminate flooring. It was built in 1922 and is zoned R3.
Public water and sewer serve the property. Appliances include a washer, dryer, oven, range, refrigerator, and gas water heater.
Public water and sewer serve the property. Appliances include a washer, dryer, oven, range, refrigerator, and gas water heater.
Key Highlights
- Two‑family property with two bedrooms and one bathroom on each floor, plus two additional bedrooms and a bathroom in the upper‑level layout
- 2,800 square feet on a 0.0597‑acre lot
- New roof and fresh interior paint
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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The upper-level layout includes two additional bedrooms and a bathroom beyond the two-bedroom, one-bath configuration on each floor.
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‑family property with two bedrooms and one bathroom on each floor, plus two additional bedrooms and a bathroom in the upper‑level layout; 2,800 square feet on a 0.0597‑acre lot; New roof and fresh interior paint
