Duplex with Detached
590 River Avenue, Providence, RI 02908
For Sale
New
$799,000
Two separate units feature updated kitchens, hardwood floors, and on-site laundry.
Property Size2,798 SF
Price / SF$285.56
Days on Market3
Property Features for 590 River Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
on-site laundry
rear deck
private backyard
Building Details
Year Built
Listing Agency:
JMG RHODE ISLAND
Listed By:
Hollie Curtis · License RI #37166
Source:
Lavonnelopes
Added: Nov 8
Last Checked: Nov 8 at 1:57AM
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 JMG RHODE ISLAND
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Investment Insights
Based on property information with market context.
This 2,798-square-foot duplex, built in 1900, contains two units with a combined six bedrooms and three bathrooms. Both units have updated kitchens, hardwood flooring, and on-site laundry. The property also includes a detached two-car garage and additional off-street parking.
A rear deck overlooks a private backyard with mature trees. Providence College is directly across from the property at 590 River Avenue in Providence.
A rear deck overlooks a private backyard with mature trees. Providence College is directly across from the property at 590 River Avenue in Providence.
Key Highlights
- Two units with a combined 6 bedrooms and 3 bathrooms
- 2,798 square feet; built in 1900
- Updated kitchens, hardwood flooring, and on‑site laundry in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,247
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,940
$944.9K
Cap Rate 7%
$674,957
$675.0K
Cap Rate 9%
$524,967
$525.0K
Market Conditions
NOI Build-Up for 2,798 SF
Gross rent
$72.2K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.5K $24.12/SF
− OpEx
−$20.2K −$7.24/SF
NOI
$47.2K $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%
$944,940
Cap Rate 7%
$674,957
Cap Rate 9%
$524,967
Alternative Uses
Best Use
Multifamily LT 5
$675.0K
$590.6K – $787.5K
NOI $47,247 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$606.3K
$530.5K – $707.3K
NOI $42,439 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$936.1K
$819.1K – $1.09M
NOI $65,526 @ 7.0% cap · market cap 8.20%
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
570
Businesses Nearby
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Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Providence, RI
Properties on Market for Duplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units feature updated kitchens, hardwood floors, and on-site laundry.
Where is this duplex located?
The property is located at 590 River Avenue Providence, RI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two units with a combined 6 bedrooms and 3 bathrooms; 2,798 square feet; built in 1900; Updated kitchens, hardwood flooring, and on‑site laundry in both units
