Duplex with Finished Lower
New
For Sale
$649,900
68 Virginia Lane, Providence, RI 02908
Two distinct residential layouts and a finished lower level offer flexibility for occupancy.
Property Size2,950 SF
Price / SF$220.31
Days on Market5
Property Features for 68 Virginia Lane
General Information
Standard status
Active
Size
2,950 SF
Property subtype
MultiFamily
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1989
Listing Agency:
Century 21 AllPoints Realty
(401) 521-9490
Listed By:
Mandy Roberts · License #REB.0206626
(401) 300-6644
Source:
Lockandkeyre
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 10:54AM
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 AllPoints Realty
Investment Insights
Based on property information with market context.
Built in 1989, this duplex pairs a ranch-style residence with a townhouse-style unit. The first unit has 3 bedrooms, 2 full baths, hardwood floors, central A/C, and an open kitchen, dining, and family-room arrangement. A three-season room extends the living area, with access to a fenced patio.
The second unit includes 1 bedroom, 1.5 baths, and an eat-in kitchen. The finished lower level adds a bathroom and kitchenette. The property is on Virginia Lane in Providence, near shopping, restaurants, schools, and Rte 146.
The second unit includes 1 bedroom, 1.5 baths, and an eat-in kitchen. The finished lower level adds a bathroom and kitchenette. The property is on Virginia Lane in Providence, near shopping, restaurants, schools, and Rte 146.
Key Highlights
- Two‑unit duplex with ranch‑style and townhouse‑style residences
- First unit has 3 bedrooms, 2 full baths, hardwood floors, and central A/C
- Open kitchen, dining, and family‑room arrangement; three‑season room and fenced patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,814
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,280
$996.3K
Cap Rate 7%
$711,629
$711.6K
Cap Rate 9%
$553,489
$553.5K
Market Conditions
NOI Build-Up for 2,950 SF
Gross rent
$76.1K $25.80/SF
− Vacancy
−$4.9K −$1.68/SF
EGI
$71.2K $24.12/SF
− OpEx
−$21.3K −$7.24/SF
NOI
$49.8K $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%
$996,280
Cap Rate 7%
$711,629
Cap Rate 9%
$553,489
Alternative Uses
Best Use
Multifamily LT 5
$711.6K
$622.7K – $830.2K
NOI $49,814 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$639.2K
$559.3K – $745.7K
NOI $44,744 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$986.9K
$863.6K – $1.15M
NOI $69,086 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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?
Duplex - Two distinct residential layouts and a finished lower level offer flexibility for occupancy.
Where is this duplex located?
The property is located at 68 Virginia Lane Providence, RI.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two‑unit duplex with ranch‑style and townhouse‑style residences; First unit has 3 bedrooms, 2 full baths, hardwood floors, and central A/C; Open kitchen, dining, and family‑room arrangement; three‑season room and fenced patio
