Duplex with Detached
81 Second Street, East Providence, RI 02914
For Sale
New
$470,000
Residential Income, East Providence, RI
Property Size1,484 SF
Lot Size0.17 Acres
Price / SF$316.71
Days on Market2
Property Features for 81 Second Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Interior features
Basement
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Buildings
Listing Agency:
Family First Realty Ri, Llc
(401) 385-3630
Listed By:
Vickie Pizzarelli
(401) 432-4129
Added: Nov 9
Last Checked: Nov 10 at 12:06AM
MLS# 1428142
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.
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Investment Insights
Based on property information with market context.
This 1,484-square-foot duplex contains two residences, each with two bedrooms. The 0.165-acre parcel includes a fenced yard, paved driveway with off-street parking, and a detached two-car garage. Built in 1920, the home has baseboard heating fueled by natural gas and public water. Interior finishes include hardwood, ceramic tile, and laminate flooring.
The property is at 81 Second Street in East Providence and is zoned R6. It is being sold in its current condition as an estate sale, subject to court approval. Peeling paint is present, and the property will not qualify for FHA financing, according to the provided information.
The property is at 81 Second Street in East Providence and is zoned R6. It is being sold in its current condition as an estate sale, subject to court approval. Peeling paint is present, and the property will not qualify for FHA financing, according to the provided information.
Key Highlights
- Two residences, each with 2 bedrooms
- 1,484 square feet on a 0.165‑acre parcel
- Detached 2‑car garage, paved driveway, and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,709
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,180
$494.2K
Cap Rate 7%
$352,986
$353.0K
Cap Rate 9%
$274,544
$274.5K
Market Conditions
NOI Build-Up for 1,484 SF
Gross rent
$37.8K $25.44/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$35.3K $23.79/SF
− OpEx
−$10.6K −$7.14/SF
NOI
$24.7K $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%
$494,180
Cap Rate 7%
$352,986
Cap Rate 9%
$274,544
Alternative Uses
Best Use
Multifamily LT 5
$353.0K
$308.9K – $411.8K
NOI $24,709 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$280.1K
$245.1K – $326.8K
NOI $19,610 @ 7.0% cap · market cap 4.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
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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
$309,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in East Providence, RI
Properties on Market for Duplexes in East Providence
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units are paired with a fenced yard and off-street parking.
Where is this duplex located?
The property is located at 81 Second Street East Providence, RI.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms; 1,484 square feet on a 0.165‑acre parcel; Detached 2‑car garage, paved driveway, and off‑street parking
