Providence Multifamily
New
For Sale
$749,000
73 Trenton Street, Providence, RI 02906
Residential Income, Providence, RI
Property Size2,285 SF
Lot Size0.06 Acres
Price / SF$327.79
Days on Market3
Property Features for 73 Trenton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 2
Parking
4
Parking features
None
Interior features
Wall (Plaster), Stairs, Insulation (Walls)
Basement
Partially Finished, Storage Space, Full
Appliances
Gas Water Heater, Dishwasher, Microwave, Oven/Range
Subdivision
Fox Point
Lot features
Fenced, Paved Driveway
Standard status
Active
Size
2,285 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8974
Utilities
Heating system
Baseboard, Natural Gas
Cooling system
Window Unit(s)
Building Details
Year built
1930
Floors in Building
4
Number of units
3
Flooring type
Vinyl, Hardwood
Building materials
Plaster, Other Siding
Listing Agency:
Century 21 Gonsalves - Pastore · Coldwell Banker Real Estate
(401) 728-2770
Listed By:
Justin Freitas
(401) 288-7659
Added: Aug 27
Last Checked: Aug 29 at 2:06AM
MLS# 1421715
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 2,285-square-foot multifamily property was built in 1930 and is set on 0.06 acres. The interior includes plaster walls, hardwood and vinyl flooring, three bathrooms, four bedrooms, a basement, baseboard heating, natural gas service, and window-unit cooling. Kitchen equipment includes a gas water heater, dishwasher, microwave, and oven/range.
The property will be delivered vacant, giving the next owner control over future occupancy arrangements. It has been owner occupied for more than 50 years and includes no on-site parking. The property is positioned near Wickenden Street amenities and waterfront access, with highway connections to the Jewelry District and East Providence. Brown University and RISD are also identified in the surrounding context.
The property will be delivered vacant, giving the next owner control over future occupancy arrangements. It has been owner occupied for more than 50 years and includes no on-site parking. The property is positioned near Wickenden Street amenities and waterfront access, with highway connections to the Jewelry District and East Providence. Brown University and RISD are also identified in the surrounding context.
Key Highlights
- 2,285 square feet on a 0.06‑acre lot
- Delivered fully vacant for future occupancy decisions
- Built in 1930 with plaster construction and other siding
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
$38,585
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
5.15%
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%
$771,700
$771.7K
Cap Rate 7%
$551,214
$551.2K
Cap Rate 9%
$428,722
$428.7K
Market Conditions
NOI Build-Up for 2,285 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
$59.0K $25.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$55.1K $24.12/SF
− OpEx
−$16.5K −$7.24/SF
NOI
$38.6K $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 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%
$771,700
Cap Rate 7%
$551,214
Cap Rate 9%
$428,722
Alternative Uses
Best Use
Multifamily LT 5
$551.2K
$482.3K – $643.1K
NOI $38,585 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$495.1K
$433.2K – $577.6K
NOI $34,658 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,512 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 02906, RI
25,559
Population
13,468
Households
1.9
Avg Household Size
35
Median Age
80%
College-Educated
97%
High-School Grad
3.1 sq mi
ZIP Area
8,245
Density / Sq Mi
$102,796
Median Household Income
$57,214
Median Earnings
$1,729
Median Rent
$582,700
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?
Triplex - Vacant delivery provides flexibility for future occupancy decisions in a residential property near waterfront amenities.
Where is this triplex located?
The property is located at 73 Trenton Street Providence, RI.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,285 square feet on a 0.06‑acre lot; Delivered fully vacant for future occupancy decisions; Built in 1930 with plaster construction and other siding
