Three-Family Residential Income
61 Douglas Avenue Providence, RI 02908
For Sale
$650,000
Well-maintained three-family home with three spacious units and a full unfinished basement with washer and dryer.
Property Size3,552 SF
Price / SF$182
Days on Market29
Property Features for 61 Douglas Avenue
General Information
- Standard status
- Active
- Size
- 3,552 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing Agency:
Century 21 Limitless
(508) 567-3468
Listed By:
Kyle Seyboth · License #32535
Source:
Lockandkeyre
Added: Jun 29
Changed: Jul 24
Last Checked: Jul 27 at 5:38AM
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 Limitless
Investment Insights
Based on property information with market context.
This well-maintained three-family residential property includes three separate units with spacious layouts and abundant windows that bring in natural light. The home also features a full unfinished basement equipped with a washer and dryer, offering additional storage and laundry convenience.
Located along Douglas Avenue in Providence, the property provides easy access to nearby restaurants, grocery stores, retail shops, and neighborhood businesses. It is positioned within minutes of Downtown Providence, and close to Providence College, Rhode Island College, and Providence Place Mall.
For commuters, the property offers convenient access to Route 6, Route 146, Interstate 95, and Interstate 295, with proximity to Rhode Island Hospital, Wanskuck Park, public transportation, and local schools.
Located along Douglas Avenue in Providence, the property provides easy access to nearby restaurants, grocery stores, retail shops, and neighborhood businesses. It is positioned within minutes of Downtown Providence, and close to Providence College, Rhode Island College, and Providence Place Mall.
For commuters, the property offers convenient access to Route 6, Route 146, Interstate 95, and Interstate 295, with proximity to Rhode Island Hospital, Wanskuck Park, public transportation, and local schools.
Key Highlights
- Built in 1930, well‑maintained 3‑family home in Providence
- Three residential units with spacious layouts and abundant windows for natural light
- Full unfinished basement with washer and dryer and added storage
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.4k | $29.40 |
| − Vacancy | −$6.5k | −$1.82 |
| EGI | $98.0k | $27.58 |
| − OpEx | −$44.1k | −$12.41 |
| NOI | $53.9k | $15.17 |
3,552 SF · lease $29.40/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$856.8K
$749.7K – $999.7K
NOI $59,979 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$769.6K
$673.4K – $897.9K
NOI $53,875 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,184 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Well-maintained three-family home with three spacious units and a full unfinished basement with washer and dryer.
Where is this triplex located?
The property is located at 61 Douglas Avenue Providence, RI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Built in 1930, well‑maintained 3‑family home in Providence; Three residential units with spacious layouts and abundant windows for natural light; Full unfinished basement with washer and dryer and added storage
