Duplex with Separate
For Sale
$539,000
82 Hillcrest Ave, Pawtucket, RI 02860
Each floor offers two bedrooms, one bathroom, hardwood floors, and access to outdoor space.
Property Size1,426 SF
Price / SF$377.98
Days on Market179
Property Features for 82 Hillcrest Ave
General Information
Standard status
Active
Size
1,426 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,620
Amenities
enclosed porch
spacious backyard
raised deck
Building Details
Buildings
1
Listing Agency:
Innovations Realty
(401) 580-8871
Listed By:
Claudia Ramirez
(401) 580-8871
Source:
Exprealty
Added: Mar 4
Changed: Aug 29
Last Checked: Aug 29 at 6:42PM
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 Innovations Realty
Investment Insights
Based on property information with market context.
This remodeled 1,426-square-foot duplex contains two residential units, with each floor offering two bedrooms and one bathroom. Hardwood flooring extends through the living rooms and bedrooms, while both bathrooms feature updated stand-up showers. Separate utilities serve each floor. The first-floor unit also includes an enclosed porch that adds flexible seasonal or storage space.
Outdoor features include a spacious backyard and a raised deck overlooking the yard. The property is located in Pawtucket’s Fairlawn neighborhood, near local amenities and major highways. Its two-unit configuration, updated interiors, and distinct utility setup support both investor and owner-occupant use.
Outdoor features include a spacious backyard and a raised deck overlooking the yard. The property is located in Pawtucket’s Fairlawn neighborhood, near local amenities and major highways. Its two-unit configuration, updated interiors, and distinct utility setup support both investor and owner-occupant use.
Key Highlights
- Two‑unit duplex with 1,426 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Separate utilities serve each floor
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
$23,744
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
4.41%
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%
$474,880
$474.9K
Cap Rate 7%
$339,200
$339.2K
Cap Rate 9%
$263,822
$263.8K
Market Conditions
NOI Build-Up for 1,426 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
$36.3K $25.44/SF
− Vacancy
−$2.4K −$1.65/SF
EGI
$33.9K $23.79/SF
− OpEx
−$10.2K −$7.14/SF
NOI
$23.7K $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 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%
$474,880
Cap Rate 7%
$339,200
Cap Rate 9%
$263,822
Alternative Uses
Best Use
Multifamily LT 5
$339.2K
$296.8K – $395.7K
NOI $23,744 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$269.2K
$235.6K – $314.1K
NOI $18,844 @ 7.0% cap · market cap 3.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 02860, RI
47,894
Population
21,467
Households
2.2
Avg Household Size
37
Median Age
25%
College-Educated
80%
High-School Grad
5.3 sq mi
ZIP Area
9,037
Density / Sq Mi
$59,954
Median Household Income
$42,038
Median Earnings
$1,112
Median Rent
$287,400
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 - Each floor offers two bedrooms, one bathroom, hardwood floors, and access to outdoor space.
Where is this duplex located?
The property is located at 82 Hillcrest Ave Pawtucket, RI.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,426 square feet; Each unit includes 2 bedrooms and 1 bathroom; Separate utilities serve each floor
