Occupied
New
For Sale
$549,900
81 1st Street, East Providence, RI 02914
Residential Income, East Providence, RI
Property Size2,350 SF
Lot Size0.06 Acres
Price / SF$234
Days on Market5
Property Features for 81 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 6, Bedroom 5, Bathroom 3, Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4
Parking
4
Parking features
None
Interior features
Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Storage Space, Unfinished
Appliances
Gas Water Heater
Lot features
Paved Driveway
Standard status
Active
Size
2,350 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6271
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
1890
Floors in Building
3
Number of units
3
Flooring type
Tile - Ceramic, Laminate
Building materials
Plaster, Aluminum Siding
Listing Agency:
Williams & Stuart Real Estate
(401) 942-0200
Listed By:
Kate DeSimone
(401) 450-4881
Added: Oct 1
Last Checked: Oct 5 at 4:06PM
MLS# 1424752
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.
Built in 1890, this 2,350-square-foot triplex contains three two-bedroom apartments. All units are occupied, with month-to-month tenancies. Interior finishes include ceramic tile and laminate flooring; the building has plaster walls, aluminum siding, and natural gas baseboard heat. A gas water heater serves the property, which has no parking.
Key Highlights
- Three two‑bedroom apartments, totaling 2,350 square feet
- All three units are occupied with month‑to‑month tenancies
- Built in 1890 on a 0.0554‑acre lot
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.
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Month-to-month agreements provide flexibility across the three residential units.
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 apartments, totaling 2,350 square feet; All three units are occupied with month‑to‑month tenancies; Built in 1890 on a 0.0554‑acre lot
