Triplex with Attic
For Sale
$860,000
61 Stanwood Street, Providence, RI 02907
Three-family property offering spacious units, attic storage, a young roof, and updated siding.
Property Size3,087 SF
Price / SF$278.59
Days on Market40
Property Features for 61 Stanwood Street
General Information
Standard status
Active
Size
3,087 SF
Property subtype
MultiFamily
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
attic space for storage
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Bani Properties
(401) 781-8600
Listed By:
Rafael Delacruz · License #RES.0047879
Source:
Lockandkeyre
Added: Aug 27
Changed: Oct 4
Last Checked: Oct 5 at 7:19PM
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 Bani Properties
Investment Insights
Based on property information with market context.
Located at 61 Stanwood Street in Providence, this 3,087-square-foot triplex was built in 1922 and contains three residential units. The property includes spacious interiors and additional attic space for storage, with a young roof and updated siding among its recent improvements.
The home is positioned near schools, hospitals, restaurants, shopping, and entertainment, with access to major highways. Its three-family layout supports multifamily ownership, including an owner-occupant arrangement or continued rental use as described in the property information.
The home is positioned near schools, hospitals, restaurants, shopping, and entertainment, with access to major highways. Its three-family layout supports multifamily ownership, including an owner-occupant arrangement or continued rental use as described in the property information.
Key Highlights
- 3,087‑square‑foot triplex with three residential units
- Built in 1922
- Additional attic space provides storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,127
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,540
$1.0M
Cap Rate 7%
$744,671
$744.7K
Cap Rate 9%
$579,189
$579.2K
Market Conditions
NOI Build-Up for 3,087 SF
Gross rent
$79.6K $25.80/SF
− Vacancy
−$5.2K −$1.68/SF
EGI
$74.5K $24.12/SF
− OpEx
−$22.3K −$7.24/SF
NOI
$52.1K $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%
$1,042,540
Cap Rate 7%
$744,671
Cap Rate 9%
$579,189
Alternative Uses
Best Use
Multifamily LT 5
$744.7K
$651.6K – $868.8K
NOI $52,127 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$668.9K
$585.3K – $780.4K
NOI $46,822 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$1.03M
$903.7K – $1.20M
NOI $72,294 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 02907, RI
29,827
Population
11,474
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
74%
High-School Grad
2.2 sq mi
ZIP Area
13,558
Density / Sq Mi
$49,564
Median Household Income
$32,619
Median Earnings
$1,136
Median Rent
$311,600
Median Home Value
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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?
Triplex - Three-family property offering spacious units, attic storage, a young roof, and updated siding.
Where is this triplex located?
The property is located at 61 Stanwood Street Providence, RI.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: 3,087‑square‑foot triplex with three residential units; Built in 1922; Additional attic space provides storage
