Income-Producing Triplex with Development
61 Emanuel Street, North Providence, RI 02911
New
MULTI_FAMILY - North Providence, RI
Property size:
2,700 SFLot size:
0.70 AcresPrice / SF:
$314/SF- Added:
- May 31, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 1 at 3:06 pm
Property Features for 61 Emanuel Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 7, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 2, Basement, Bedroom 3, Bedroom 1, Bedroom 6
- Parking
- 12
- Basement
- Full, Unfinished
- Standard status
- Active
- Size
- 2,700 SF
- Lot size
- 0.70 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7755
Utilities
- Heating system
- Natural Gas, Baseboard
Building Details
- Year built
- 1920
- Number of units
- 3
- Flooring type
- Hardwood
- Building materials
- Vinyl Siding
Listing agent Melissa Riley License #RES.0033799 (401) 421-5300
Listing office Westcott Properties 178 Broadway, Providence, RI (401) 421-5300
Listing date May 31, 2026
MLS# 1414035
Listing URL
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.
HighLights
- Income‑producing three‑family property, currently fully occupied with reliable rental income.
- Generously sized lot with potential for future development or ADU (subject to approvals).
- Recent renovations throughout, making it a turnkey investment.
- Sought‑after suburban location with convenient access to transportation, shopping, restaurants, and schools.
- Minutes from downtown Providence, providing easy access to employment, entertainment, and cultural attractions.
- Detached garage.
Overview
This well-maintained, income-producing three-family property offers a rare opportunity. The property includes a detached garage and is set on a generously sized 0.7-acre lot that offers exceptional flexibility for future growth. Currently fully occupied, the property generates reliable rental income and features recent renovations throughout, making it an attractive turnkey investment. The substantial lot size and ample frontage may provide opportunities for additional development or the creation of an additional build or accessory dwelling unit, subject to municipal approvals. The property is located in North Providence, Rhode Island, in a sought-after suburban location, providing residents with convenient access to major transportation routes, shopping centers, restaurants, schools, and recreational amenities. The property is also just minutes from downtown Providence, providing easy access to employment centers, entertainment, and cultural attractions. The property has 2700 square feet of living space.
Local Financial Insights For Multifamily LT 5
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 | $68.7k | $25.44 |
| − Vacancy | −$4.5k | −$1.65 |
| EGI | $64.2k | $23.79 |
| − OpEx | −$19.3k | −$7.14 |
| NOI | $45.0k | $16.65 |
2,700 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$642.2K
$562.0K – $749.3K
NOI $44,956 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$509.7K
$446.0K – $594.7K
NOI $35,679 @ 7.0% cap · market cap 4.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- North Providence
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.47384
- Latitude
- 41.845621
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-maintained three-family property with detached garage and development potential.
Where is this triplex located?
The property is located at 61 Emanuel Street North Providence, RI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Income‑producing three‑family property, currently fully occupied with reliable rental income.; Generously sized lot with potential for future development or ADU (subject to approvals).; Recent renovations throughout, making it a turnkey investment.
