New-Build Duplex With Vacant
For Sale
$669,000
Pending
804 DOUGLAS Avenue, Providence, RI 02908
Residential Income, Providence, RI
Property Size3,600 SF
Lot Size0.07 Acres
Days on Market135
Property Features for 804 DOUGLAS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 5, Basement, Bathroom 3, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking
4
Parking features
None
Patio and Porch features
Deck, Porch
Interior features
Wall (Dry Wall), Plumbing (PEX), Plumbing (PVC), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Exterior features
Deck, Porch
Basement
Full, Unfinished
Appliances
Gas Water Heater, Microwave, Oven/Range, Refrigerator
Lot features
Paved Driveway, Paved, Sidewalks
Standard status
Pending
Size
3,600 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Natural Gas, Central
Cooling system
Central Air
Amenities
central air
laundry hookups
dishwasher
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Flooring type
Vinyl, Tile - Ceramic
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Keller Williams Leading Edge · Keller Williams Realty
(401) 333-4900
Listed By:
Aaron Coutu · License #RES.0044787
(401) 347-3276
Added: Apr 17
Changed: Aug 20
Last Checked: Aug 29 at 7:06PM
MLS# 1410329
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.
Completed in 2026, this R3-zoned duplex contains two vacant, mirror-image residences totaling 3,600 square feet. Each unit includes three bedrooms, two full bathrooms, a primary bedroom with walk-in closet, and an open living arrangement. Separate utilities, central air, and laundry hookups serve both apartments. Kitchens feature stainless steel appliances, including dishwashers, along with gas water heaters. Deck and porch areas complement the exterior, which is finished with vinyl siding.
The property at 804 Douglas Avenue occupies 0.0735 acres in Providence, Rhode Island. A full basement provides approximately 1,200 additional unfinished square feet. The basement may offer an option for a third unit or expanded living area, subject to buyer due diligence regarding applicable requirements and restrictions. The property does not include on-site parking.
The property at 804 Douglas Avenue occupies 0.0735 acres in Providence, Rhode Island. A full basement provides approximately 1,200 additional unfinished square feet. The basement may offer an option for a third unit or expanded living area, subject to buyer due diligence regarding applicable requirements and restrictions. The property does not include on-site parking.
Key Highlights
- 2026‑built duplex with two vacant, mirror‑image units
- Each residence has 3 bedrooms, 2 full bathrooms, and a primary suite with walk‑in closet
- 3,600 square feet of total property size on 0.0735 acres
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
$60,790
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
9.09%
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%
$1,215,800
$1.2M
Cap Rate 7%
$868,429
$868.4K
Cap Rate 9%
$675,444
$675.4K
Market Conditions
NOI Build-Up for 3,600 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
$92.9K $25.80/SF
− Vacancy
−$6.0K −$1.68/SF
EGI
$86.8K $24.12/SF
− OpEx
−$26.1K −$7.24/SF
NOI
$60.8K $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%
$1,215,800
Cap Rate 7%
$868,429
Cap Rate 9%
$675,444
Alternative Uses
Best Use
Multifamily LT 5
$868.4K
$759.9K – $1.01M
NOI $60,790 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$780.0K
$682.5K – $910.1K
NOI $54,603 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,308 @ 7.0% cap · market cap 12.60%
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
731
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
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 - Two matching residences offer private utilities, central air, laundry hookups, and stainless steel kitchen appliances.
Where is this duplex located?
The property is located at 804 DOUGLAS Avenue Providence, RI.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: 2026‑built duplex with two vacant, mirror‑image units; Each residence has 3 bedrooms, 2 full bathrooms, and a primary suite with walk‑in closet; 3,600 square feet of total property size on 0.0735 acres
