Updated Two-Unit
New
For Sale
$640,000
6 Shafter Street, Providence, RI 02909
Residential Income, Providence, RI
Property Size1,648 SF
Lot Size0.09 Acres
Price / SF$388.35
Days on Market4
Property Features for 6 Shafter Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3
Parking
4
Parking features
None
Patio and Porch features
Porch, Patio
Interior features
Wall (Dry Wall)
Exterior features
Patio, Porch
Fireplace
1
Basement
Full, Unfinished
Appliances
Dishwasher, Dryer, Disposal, Microwave, Oven, Range, Refrigerator, Washer, Electric Water Heater
Subdivision
Silver Lake
Lot features
Paved Driveway
Standard status
Active
Size
1,648 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5003
Utilities
Heating system
Electric (Heating)
Amenities
electric fireplace
stainless steel appliances
custom tilework
new flooring
mini-split systems
covered front deck
shared basement laundry
off-street parking
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Giana Valelli
(401) 230-3010
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 22 at 6:06PM
MLS# 1426352
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.
Reconfigured from a single-family home, this 1,648-square-foot duplex contains two residential units. Interior updates include kitchens with stainless steel appliances, bathrooms with custom tilework, new flooring, electric fireplaces, and mini-split systems in every room. Each unit also has a covered front deck, and laundry is located in the shared basement.
Exterior work includes vinyl siding, stamped concrete walkways, and a paved rear parking area. The property occupies a 0.0914-acre lot in Providence, Rhode Island, and was built in 1930.
Exterior work includes vinyl siding, stamped concrete walkways, and a paved rear parking area. The property occupies a 0.0914-acre lot in Providence, Rhode Island, and was built in 1930.
Key Highlights
- Two‑unit duplex converted from a single‑family residence
- 1,648 square feet on a 0.0914‑acre lot
- Mini‑split heating and cooling systems in every room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,828
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,560
$556.6K
Cap Rate 7%
$397,543
$397.5K
Cap Rate 9%
$309,200
$309.2K
Market Conditions
NOI Build-Up for 1,648 SF
Gross rent
$42.5K $25.80/SF
− Vacancy
−$2.8K −$1.68/SF
EGI
$39.8K $24.12/SF
− OpEx
−$11.9K −$7.24/SF
NOI
$27.8K $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%
$556,560
Cap Rate 7%
$397,543
Cap Rate 9%
$309,200
Alternative Uses
Best Use
Multifamily LT 5
$397.5K
$347.9K – $463.8K
NOI $27,828 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$357.1K
$312.5K – $416.6K
NOI $24,996 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$551.3K
$482.4K – $643.2K
NOI $38,594 @ 7.0% cap · market cap 6.03%
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
815
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine modern interior finishes with covered outdoor decks and shared basement laundry.
Where is this duplex located?
The property is located at 6 Shafter Street Providence, RI.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Two‑unit duplex converted from a single‑family residence; 1,648 square feet on a 0.0914‑acre lot; Mini‑split heating and cooling systems in every room
