Remodeled Triplex with Townhouse
For Sale
Under Contract
$699,900
6 Stockwell Street, Providence, RI 02909
Residential Income, Providence, RI
Property Size3,248 SF
Lot Size0.09 Acres
Price / SF$215.49
Days on Market171
Property Features for 6 Stockwell Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 7, Bedroom 4, Bedroom 5, Basement, Bathroom 3, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking
4
Parking features
None
Interior features
Wall (Plaster), Plumbing (Mixed), Insulation (Cap), Insulation (Walls)
Basement
Finished, Full, Storage Space
Appliances
Gas Water Heater, Tankless Water Heater, Dishwasher, Dryer, Exhaust Fan, Oven/Range, Refrigerator, Washer
Lot features
Cul-De-Sac
Standard status
Active Under Contract
Size
3,248 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6971
Utilities
Heating system
Natural Gas, Zoned, Baseboard
Water source
Public
Building Details
Year built
1900
Number of units
3
Flooring type
Carpet, Laminate, Tile - Ceramic
Building materials
Plaster, Vinyl Siding
Listing Agency:
Cathedral Properties
(401) 265-0960
Listed By:
Bethany Martone
(401) 265-0960
Added: Mar 12
Changed: Aug 20
Last Checked: Aug 29 at 2:06PM
MLS# 1405769
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.
Investment Insights
Based on property information with market context.
This triplex was comprehensively remodeled in 2023, including electrical service, insulation, plaster, windows, plumbing, and exterior siding. The property provides 7 bedrooms and 4 full bathrooms, along with two kitchens featuring stainless steel appliances, dishwashers, and quartz countertops. A second-floor townhouse-style unit includes separate family room and living room areas, while the home also has ceramic tile, laminate, and carpet flooring.
Located in Providence, the property is minutes from the downtown train station, local universities, and area hospitals. Public water service, natural-gas heating, zoned baseboard heat, and both gas and tankless water heaters are among the building systems and appliances in place.
Located in Providence, the property is minutes from the downtown train station, local universities, and area hospitals. Public water service, natural-gas heating, zoned baseboard heat, and both gas and tankless water heaters are among the building systems and appliances in place.
Key Highlights
- Triplex classification with 7 bedrooms and 4 full bathrooms
- Comprehensively remodeled in 2023 with updated electrical, plumbing, windows, insulation, plaster, and siding
- Second‑floor townhouse‑style unit with separate family room and living room areas
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
$54,846
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
7.84%
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%
$1,096,920
$1.1M
Cap Rate 7%
$783,514
$783.5K
Cap Rate 9%
$609,400
$609.4K
Market Conditions
NOI Build-Up for 3,248 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
$83.8K $25.80/SF
− Vacancy
−$5.4K −$1.68/SF
EGI
$78.4K $24.12/SF
− OpEx
−$23.5K −$7.24/SF
NOI
$54.8K $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 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%
$1,096,920
Cap Rate 7%
$783,514
Cap Rate 9%
$609,400
Alternative Uses
Best Use
Multifamily LT 5
$783.5K
$685.6K – $914.1K
NOI $54,846 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$703.8K
$615.8K – $821.1K
NOI $49,264 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$1.09M
$950.8K – $1.27M
NOI $76,064 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
669
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Updated multifamily property with modernized systems, two kitchens, and a second-floor townhouse-style residence.
Where is this triplex located?
The property is located at 6 Stockwell Street Providence, RI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Triplex classification with 7 bedrooms and 4 full bathrooms; Comprehensively remodeled in 2023 with updated electrical, plumbing, windows, insulation, plaster, and siding; Second‑floor townhouse‑style unit with separate family room and living room areas
