Two-Family Duplex with Outdoor
For Sale
$524,000
6 Bloomingdale Ave, Pawtucket, RI 02860
Built in 1901, this two-unit duplex provides five bedrooms and two full bathrooms on two levels.
Property Size2,124 SF
Lot Size0.07 Acres
Price / SF$246.70
Days on Market54
Property Features for 6 Bloomingdale Ave
General Information
Standard status
Active
Size
2,124 SF
Lot size
0.07 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1901
Stories
2
Tenancy
Multi
Listing Agency:
Century 21 Envoy
Listed By:
Lauren Fortini · License #RES.0048735
(401) 681-8738
Source:
Alpernandmesenbourg
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 9 at 10:35PM
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 Century 21 Envoy
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex at 6 Bloomingdale Avenue was built in 1901 and offers two levels of living with a total of five bedrooms and two full bathrooms. The property features spacious, functional layouts with abundant natural light across the two units. Outside, the duplex includes manageable outdoor space on a 3,049-square-foot lot.
The property is positioned for everyday convenience, with proximity to schools, shopping, restaurants, parks, public transportation, and major highways.
For buyers seeking a residential income property with flexibility, the duplex arrangement allows for a variety of owner-occupant or rental scenarios.
The property is positioned for everyday convenience, with proximity to schools, shopping, restaurants, parks, public transportation, and major highways.
For buyers seeking a residential income property with flexibility, the duplex arrangement allows for a variety of owner-occupant or rental scenarios.
Key Highlights
- Two‑family duplex built in 1901 in Pawtucket
- 5 bedrooms and 2 full bathrooms total across two levels of living space
- Two‑unit layout with functional living areas and abundant natural light
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
$35,366
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
6.75%
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%
$707,320
$707.3K
Cap Rate 7%
$505,229
$505.2K
Cap Rate 9%
$392,956
$393.0K
Market Conditions
NOI Build-Up for 2,124 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
$54.0K $25.44/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$50.5K $23.79/SF
− OpEx
−$15.2K −$7.14/SF
NOI
$35.4K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
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%
$707,320
Cap Rate 7%
$505,229
Cap Rate 9%
$392,956
Alternative Uses
Best Use
Multifamily LT 5
$505.2K
$442.1K – $589.4K
NOI $35,366 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$401.0K
$350.9K – $467.8K
NOI $28,068 @ 7.0% cap · market cap 5.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Built in 1901, this two-unit duplex provides five bedrooms and two full bathrooms on two levels.
Where is this duplex located?
The property is located at 6 Bloomingdale Ave Pawtucket, RI.
What is the asking price?
The asking price for this property is $524,000.
What are key features of this property?
This property features: Two‑family duplex built in 1901 in Pawtucket; 5 bedrooms and 2 full bathrooms total across two levels of living space; Two‑unit layout with functional living areas and abundant natural light
