Two-Unit Duplex with
66 Armstrong Avenue, Providence, RI 02903
For Sale
$950,000
Both residences include in-unit laundry, and the property also has central air and a detached garage.
Property Size3,317 SF
Price / SF$286.40
Days on Market194
Property Features for 66 Armstrong Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Divine Real Estate
Listed By:
Cheryl Robinson Roberts · License RI RES.0047240
(401) 952-4011
Source:
Pooleproperties
Added: May 1
Changed: Nov 7
Last Checked: Nov 9 at 6:14PM
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 Divine Real Estate
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Investment Insights
Based on property information with market context.
This 3,317-square-foot duplex, built in 1930, contains two residences. The first-floor unit has three bedrooms, one bathroom, and in-unit laundry. The second-floor townhouse-style unit offers six or more bedrooms, two bathrooms, and a renovated kitchen and baths. Both units have central air and laundry. Interior details include original hardwood floors, high ceilings, granite counters, and stainless steel appliances. The property includes parking for eight cars and a detached garage.
The home is in Providence’s Fox Point neighborhood, near India Point Park, Wickenden Street, Brown University, RISD, College Hill, Johnson & Wales University, and downtown. It is on a bus line and near the pedestrian bridge and Trader Joe’s Market.
The home is in Providence’s Fox Point neighborhood, near India Point Park, Wickenden Street, Brown University, RISD, College Hill, Johnson & Wales University, and downtown. It is on a bus line and near the pedestrian bridge and Trader Joe’s Market.
Key Highlights
- Two residences: first‑floor unit with 3 bedrooms and 1 bathroom; second‑floor unit with 6+ bedrooms and 2 bathrooms
- 3,317 square feet; built in 1930
- Parking for 8 cars and a detached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,011
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,120,220
$1.1M
Cap Rate 7%
$800,157
$800.2K
Cap Rate 9%
$622,344
$622.3K
Market Conditions
NOI Build-Up for 3,317 SF
Gross rent
$85.6K $25.80/SF
− Vacancy
−$5.6K −$1.68/SF
EGI
$80.0K $24.12/SF
− OpEx
−$24.0K −$7.24/SF
NOI
$56.0K $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%
$1,120,220
Cap Rate 7%
$800,157
Cap Rate 9%
$622,344
Alternative Uses
Best Use
Multifamily LT 5
$800.2K
$700.1K – $933.5K
NOI $56,011 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$718.7K
$628.9K – $838.5K
NOI $50,310 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$1.11M
$971.0K – $1.29M
NOI $77,680 @ 7.0% cap · market cap 8.18%
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
2,326
Businesses Nearby
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Business Placement
Demographics for 02903, RI
13,264
Population
6,588
Households
2
Avg Household Size
33
Median Age
53%
College-Educated
89%
High-School Grad
1.7 sq mi
ZIP Area
7,802
Density / Sq Mi
$62,987
Median Household Income
$40,294
Median Earnings
$1,640
Median Rent
$365,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Providence, RI
Properties on Market for Duplexes in Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include in-unit laundry, and the property also has central air and a detached garage.
Where is this duplex located?
The property is located at 66 Armstrong Avenue Providence, RI.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two residences: first‑floor unit with 3 bedrooms and 1 bathroom; second‑floor unit with 6+ bedrooms and 2 bathrooms; 3,317 square feet; built in 1930; Parking for 8 cars and a detached garage
