Three-Unit Residential
For Sale
$549,900
81 1st Street, East Providence, RI 02914
All three two-bedroom units are occupied under month-to-month tenancies.
Property Size2,350 SF
Price / SF$234
Days on Market13
Property Features for 81 1st Street
General Information
Standard status
Active
Size
2,350 SF
Property subtype
MultiFamily
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Year Built
1890
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Kate DeSimone · License #RES.0041161
(401) 450-4881
Source:
Lockandkeyre
Added: Oct 1
Changed: Oct 13
Last Checked: Oct 12 at 7:03PM
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 Williams & Stuart Real Estate
Investment Insights
Based on property information with market context.
This 2,350-square-foot triplex was built in 1890 and contains three two-bedroom units. All units are occupied, with month-to-month tenancies providing flexibility in the rental arrangements.
The property is near the East Bay Bike Path, coffee shops, restaurants, and several parks. It is also situated in an area with ongoing Waterfront District improvements.
The property is near the East Bay Bike Path, coffee shops, restaurants, and several parks. It is also situated in an area with ongoing Waterfront District improvements.
Key Highlights
- Three two‑bedroom units
- All units currently occupied
- Month‑to‑month tenancies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,129
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$782,580
$782.6K
Cap Rate 7%
$558,986
$559.0K
Cap Rate 9%
$434,767
$434.8K
Market Conditions
NOI Build-Up for 2,350 SF
Gross rent
$59.8K $25.44/SF
− Vacancy
−$3.9K −$1.65/SF
EGI
$55.9K $23.79/SF
− OpEx
−$16.8K −$7.14/SF
NOI
$39.1K $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 Rate 5%
$782,580
Cap Rate 7%
$558,986
Cap Rate 9%
$434,767
Alternative Uses
Best Use
Multifamily LT 5
$559.0K
$489.1K – $652.2K
NOI $39,129 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$443.6K
$388.2K – $517.6K
NOI $31,054 @ 7.0% cap · market cap 5.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
733
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - All three two-bedroom units are occupied under month-to-month tenancies.
Where is this triplex located?
The property is located at 81 1st Street East Providence, RI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Three two‑bedroom units; All units currently occupied; Month‑to‑month tenancies
