Three-Unit Historic
For Sale
$785,000
75 Doyle Avenue, Providence, RI 02906
Residential Income, Providence, RI
Property Size2,566 SF
Lot Size0.11 Acres
Price / SF$305.92
Days on Market10
Property Features for 75 Doyle Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 4, Basement, Bedroom 6, Bathroom 3, Bedroom 3
Parking
8
Parking features
None
Window features
Insulated Windows
Patio and Porch features
Deck
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Deck
Basement
Unfinished, Full
Appliances
Gas Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
Subdivision
East Side / Mt. Hope
Lot features
Fenced
Standard status
Active
Size
2,566 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8987
Utilities
Heating system
Natural Gas, Oil, Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
4
Number of units
3
Flooring type
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Plaster, Clapboard, Wood
Listing Agency:
Residential Properties Ltd.
(401) 274-6740
Listed By:
Gerri Schiffman · License #RES.0025339
(401) 474-3733
Added: Sep 17
Last Checked: Sep 26 at 11:06AM
MLS# 1423626
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 legal triplex contains three two-bedroom, one-bath residences within a 2,566-square-foot property built in 1900. The units retain hardwood flooring and period character, while vinyl replacement windows and other updates improve the existing improvements. A deck, basement, public water, and a mix of oil, natural gas, and baseboard heating are also included. Kitchens are equipped with refrigerators, ovens/ranges, dishwashers, microwaves, washers, and dryers.
The 0.11-acre property is located at 75 Doyle Avenue in Providence's Mt. Hope area. Shops in Hope Village, Whole Foods Market, Downtown Providence, and Brown University are identified nearby, with highway access also noted. The property is fully occupied, and residents pay their own electric and gas utilities. R-3 zoning and the three-unit configuration support its residential income profile.
The 0.11-acre property is located at 75 Doyle Avenue in Providence's Mt. Hope area. Shops in Hope Village, Whole Foods Market, Downtown Providence, and Brown University are identified nearby, with highway access also noted. The property is fully occupied, and residents pay their own electric and gas utilities. R-3 zoning and the three-unit configuration support its residential income profile.
Key Highlights
- Three 2‑bedroom, 1‑bath units in a legal triplex
- 2,566 square feet on a 0.11‑acre lot
- Built in 1900 with hardwood flooring and historic character
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
$43,330
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
5.52%
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%
$866,600
$866.6K
Cap Rate 7%
$619,000
$619.0K
Cap Rate 9%
$481,444
$481.4K
Market Conditions
NOI Build-Up for 2,566 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
$66.2K $25.80/SF
− Vacancy
−$4.3K −$1.68/SF
EGI
$61.9K $24.12/SF
− OpEx
−$18.6K −$7.24/SF
NOI
$43.3K $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%
$866,600
Cap Rate 7%
$619,000
Cap Rate 9%
$481,444
Alternative Uses
Best Use
Multifamily LT 5
$619.0K
$541.6K – $722.2K
NOI $43,330 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$556.0K
$486.5K – $648.7K
NOI $38,920 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$858.5K
$751.2K – $1.00M
NOI $60,093 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,831
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
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 - Legal multifamily property with updated systems, hardwood floors, and tenant-paid electric and gas.
Where is this triplex located?
The property is located at 75 Doyle Avenue Providence, RI.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bath units in a legal triplex; 2,566 square feet on a 0.11‑acre lot; Built in 1900 with hardwood flooring and historic character
