New Two-Family
For Sale
$849,900
Pending
79 Anthony Avenue, Providence, RI 02909
Newly built two-family property with two separate units, in-unit laundry, central air, and gas heating.
Property Size3,900 SF
Days on Market41
Property Features for 79 Anthony Avenue
General Information
Standard status
Pending
Size
3,900 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
gleaming hardwood flooring
stylish contemporary kitchens
open-concept living spaces filled with natural light
recessed lighting throughout
convenient in-unit laundry
energy-efficient gas heating
central air conditioning
high-end finishes
Building Details
Year Built
2026
Tenancy
Multi
Listing Agency:
Greco Real Estate
Listed By:
Dhamarys Murillo · License #39449
Source:
Onshorerealtors
Added: Jul 22
Changed: Aug 21
Last Checked: Aug 26 at 5:51AM
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 Greco Real Estate
Investment Insights
Based on property information with market context.
Newly built two-family residence scheduled for estimated completion in September 2026. Unit 1 is configured in a townhouse-style layout across two levels with 7 bedrooms and 3 full bathrooms, including a main floor with 4 bedrooms and 2 full baths plus a finished walkout lower level with 3 additional bedrooms and a full bathroom. Unit 2 offers 4 bedrooms and 2 full bathrooms.
Both units feature contemporary kitchens, open-concept living spaces with natural light, recessed lighting, in-unit laundry, energy-efficient gas heating, and central air conditioning. Hardwood flooring and high-end finishes are included throughout, creating a move-in-ready setup when completed.
With separate unit layouts and a combined total of 11 bedrooms and 5 full bathrooms, the property is designed to support a range of residential living arrangements for owner-occupants and investors.
Both units feature contemporary kitchens, open-concept living spaces with natural light, recessed lighting, in-unit laundry, energy-efficient gas heating, and central air conditioning. Hardwood flooring and high-end finishes are included throughout, creating a move-in-ready setup when completed.
With separate unit layouts and a combined total of 11 bedrooms and 5 full bathrooms, the property is designed to support a range of residential living arrangements for owner-occupants and investors.
Key Highlights
- Newly built two‑family property (Year Built: 2026) with two separate units and 11 bedrooms total
- Unit 1: townhouse‑style layout with 7 bedrooms and 3 full bathrooms across two levels plus a finished walkout lower level
- Unit 2: 4 bedrooms and 2 full bathrooms, suited for multi‑generational living or rental flexibility
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
$65,856
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
7.75%
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%
$1,317,120
$1.3M
Cap Rate 7%
$940,800
$940.8K
Cap Rate 9%
$731,733
$731.7K
Market Conditions
NOI Build-Up for 3,900 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
$100.6K $25.80/SF
− Vacancy
−$6.5K −$1.68/SF
EGI
$94.1K $24.12/SF
− OpEx
−$28.2K −$7.24/SF
NOI
$65.9K $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%
$1,317,120
Cap Rate 7%
$940,800
Cap Rate 9%
$731,733
Alternative Uses
Best Use
Multifamily LT 5
$940.8K
$823.2K – $1.10M
NOI $65,856 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$845.0K
$739.4K – $985.9K
NOI $59,153 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,333 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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 - Newly built two-family property with two separate units, in-unit laundry, central air, and gas heating.
Where is this duplex located?
The property is located at 79 Anthony Avenue Providence, RI.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Newly built two‑family property (Year Built: 2026) with two separate units and 11 bedrooms total; Unit 1: townhouse‑style layout with 7 bedrooms and 3 full bathrooms across two levels plus a finished walkout lower level; Unit 2: 4 bedrooms and 2 full bathrooms, suited for multi‑generational living or rental flexibility
