Remodeled Two-Family
For Sale
$525,000
70 Martin Street, East Providence, RI 02914
Residential Income, East Providence, RI
Property Size1,769 SF
Lot Size0.11 Acres
Price / SF$296.78
Days on Market9
Property Features for 70 Martin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 4, Basement
Parking
2
Parking features
None
Interior features
Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Unfinished, Storage Space, Full
Appliances
Oven/Range, Refrigerator
Lot features
Paved Driveway
Standard status
Active
Size
1,769 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6204
Utilities
Heating system
Natural Gas, Steam
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl
Building materials
Plaster, Vinyl Siding
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Melanie Ruiz · License #38601
(401) 651-8141
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 20 at 2:06PM
MLS# 1420502
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 two-family duplex contains 1,769 square feet and dates to 1920. The upper apartment has been updated with a newer kitchen and bathroom, refreshed flooring, and contemporary finishes. The lower unit includes two bedrooms, a full bathroom, generous living areas, and an eat-in kitchen, with additional cosmetic work possible. Vinyl siding, replacement windows, ceramic tile, vinyl flooring, natural-gas steam heat, and a full basement add to the property’s functional profile. The home sits on a 0.11-acre lot with established landscaping and an attractive exterior.
The property is located in East Providence’s Kent Heights area, near Gordon School, shopping, dining, recreation, and commuter routes. Public water serves the residence, and appliances include an oven/range and refrigerator. The room layout includes four bedrooms, two bathrooms, and basement space.
The property is located in East Providence’s Kent Heights area, near Gordon School, shopping, dining, recreation, and commuter routes. Public water serves the residence, and appliances include an oven/range and refrigerator. The room layout includes four bedrooms, two bathrooms, and basement space.
Key Highlights
- Two‑family duplex with 1,769 square feet on a 0.11‑acre lot
- Upper apartment features an updated kitchen, bathroom, flooring, and finishes
- Lower unit includes two bedrooms, full bathroom, and eat‑in kitchen
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
$29,455
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
5.61%
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%
$589,100
$589.1K
Cap Rate 7%
$420,786
$420.8K
Cap Rate 9%
$327,278
$327.3K
Market Conditions
NOI Build-Up for 1,769 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
$45.0K $25.44/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$42.1K $23.79/SF
− OpEx
−$12.6K −$7.14/SF
NOI
$29.5K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$589,100
Cap Rate 7%
$420,786
Cap Rate 9%
$327,278
Alternative Uses
Best Use
Multifamily LT 5
$420.8K
$368.2K – $490.9K
NOI $29,455 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$333.9K
$292.2K – $389.6K
NOI $23,376 @ 7.0% cap · market cap 4.45%
Theoretical Best
—
—
same as Best Use
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
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
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 - Two-unit residence combining an upgraded apartment with a second home featuring original character and room for cosmetic improvements.
Where is this duplex located?
The property is located at 70 Martin Street East Providence, RI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑family duplex with 1,769 square feet on a 0.11‑acre lot; Upper apartment features an updated kitchen, bathroom, flooring, and finishes; Lower unit includes two bedrooms, full bathroom, and eat‑in kitchen
