Renovated Duplex with Detached
For Sale
$722,900
67 Tanner St, Providence, RI 02907
A spacious two-family layout includes finished attic areas and room for varied living arrangements.
Property Size3,316 SF
Price / SF$218
Days on Market9
Property Features for 67 Tanner St
General Information
Standard status
Active
Size
3,316 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,263
Amenities
finished attic
additional attic storage space
spacious backyard
detached garage
Building Details
Buildings
1
Listing Agency:
Bani Properties
(401) 692-3923
Listed By:
Pamela Perez
(401) 692-3923
Source:
Exprealty
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 21 at 9:10AM
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.
This fully renovated duplex provides 10 rooms and 3 full bathrooms across a spacious two-family residence. The property includes a finished attic, separate attic storage, a detached garage, and a backyard. Parking accommodates up to 6 vehicles, while a new roof and new siding are among the recent improvements.
The home is situated in Providence’s medical district with access to hospitals, schools, restaurants, shopping, public transportation, and other major city amenities. Its combination of updated exterior components, flexible interior space, supplemental storage, and on-site parking supports a range of residential living arrangements.
The home is situated in Providence’s medical district with access to hospitals, schools, restaurants, shopping, public transportation, and other major city amenities. Its combination of updated exterior components, flexible interior space, supplemental storage, and on-site parking supports a range of residential living arrangements.
Key Highlights
- Fully renovated duplex with 10 rooms and 3 full bathrooms
- New roof and new siding among recent property updates
- Parking for up to 6 vehicles
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
$55,994
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
7.75%
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%
$1,119,880
$1.1M
Cap Rate 7%
$799,914
$799.9K
Cap Rate 9%
$622,156
$622.2K
Market Conditions
NOI Build-Up for 3,316 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
$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 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%
$1,119,880
Cap Rate 7%
$799,914
Cap Rate 9%
$622,156
Alternative Uses
Best Use
Multifamily LT 5
$799.9K
$699.9K – $933.2K
NOI $55,994 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$718.5K
$628.7K – $838.3K
NOI $50,295 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$1.11M
$970.7K – $1.29M
NOI $77,657 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,870
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - A spacious two-family layout includes finished attic areas and room for varied living arrangements.
Where is this duplex located?
The property is located at 67 Tanner St Providence, RI.
What is the asking price?
The asking price for this property is $722,900.
What are key features of this property?
This property features: Fully renovated duplex with 10 rooms and 3 full bathrooms; New roof and new siding among recent property updates; Parking for up to 6 vehicles
