3-Unit Multifamily
For Sale
$569,900
Pending
685 Charles Street, Providence, RI 02904
Residential Income, Providence, RI
Property Size2,877 SF
Lot Size0.10 Acres
Days on Market162
Property Features for 685 Charles Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Basement, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 3
Parking
3
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Basement
Unfinished, Full
Appliances
Oven, Range, Refrigerator, Gas Water Heater
Standard status
Pending
Size
2,877 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3380
Utilities
Heating system
Natural Gas, Steam, Baseboard
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Laminate
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Broadway Real Estate Group
(401) 354-7969
Listed By:
Doug Jeffrey · License #REC.0016109
(401) 255-5530
Added: May 5
Changed: Oct 11
Last Checked: Oct 13 at 5:06PM
MLS# 1411658
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.
Investment Insights
Based on property information with market context.
This 3-unit residential property contains 2,877 square feet on a 0.1-acre lot. Built in 1910, it has vinyl siding, replacement windows, and an architectural shingle roof. Interior finishes include hardwood and laminate flooring, with a mix of plaster and drywall walls. Heating is provided by natural gas, with steam and baseboard systems. Appliances include an oven, range, refrigerator, and gas water heater.
Utilities are separately metered. The property is located at 685 Charles Street in Providence, Rhode Island.
Utilities are separately metered. The property is located at 685 Charles Street in Providence, Rhode Island.
Key Highlights
- Three‑family property with 2,877 square feet of building area
- 0.1‑acre lot
- Separate utility metering
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,581
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,620
$971.6K
Cap Rate 7%
$694,014
$694.0K
Cap Rate 9%
$539,789
$539.8K
Market Conditions
NOI Build-Up for 2,877 SF
Gross rent
$74.2K $25.80/SF
− Vacancy
−$4.8K −$1.68/SF
EGI
$69.4K $24.12/SF
− OpEx
−$20.8K −$7.24/SF
NOI
$48.6K $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%
$971,620
Cap Rate 7%
$694,014
Cap Rate 9%
$539,789
Alternative Uses
Best Use
Multifamily LT 5
$694.0K
$607.3K – $809.7K
NOI $48,581 @ 7.0% cap · market cap 8.52%
Second Best
Apartment 5plus
$623.4K
$545.5K – $727.3K
NOI $43,637 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$962.5K
$842.2K – $1.12M
NOI $67,376 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
Check the figures for this property
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 - Separate utility metering and natural gas heating support the property's three-unit configuration.
Where is this triplex located?
The property is located at 685 Charles Street Providence, RI.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Three‑family property with 2,877 square feet of building area; 0.1‑acre lot; Separate utility metering
