New Construction Duplex with Two
For Sale
$825,000
84 Coggeshall Street, Providence, RI 02904
Residential Income, Providence, RI
Property Size3,000 SF
Lot Size0.07 Acres
Price / SF$275
Days on Market167
Property Features for 84 Coggeshall Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R3
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bedroom 9, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 2, Bedroom 7, Bathroom 1, Bedroom 8, Bedroom 4, Bedroom 1
Parking
3
Parking features
None
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Dry Wall), Attic Storage, Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Exterior features
Porch
Basement
Unfinished, Full, Storage Space
Appliances
Electric Water Heater, Dishwasher, Microwave, Oven/Range, Refrigerator
Subdivision
Providence College
Lot features
Corner Lot
Standard status
Active
Size
3,000 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Utilities
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
laundry
central air
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Laminate
Building materials
Dry Wall, Vinyl Siding
Additional Structures
Storage
Listing Agency:
Re/Max Preferred · RE/MAX International
(401) 353-2200
Listed By:
Sally Rianna · License #S30517
(401) 486-1337
Added: Mar 9
Changed: Aug 20
Last Checked: Aug 22 at 2:06AM
MLS# 1405872
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.
This under-construction duplex offers approximately 3,000 square feet across two units. The first-level residence includes 3 bedrooms and 1 bathroom, while the townhouse-style second unit spans two levels with 6 bedrooms, a recreation room, and 2 full bathrooms. Together, the property provides 9 bedrooms and 3 bathrooms. Each unit includes stainless steel appliances, and laundry areas are planned on all three floors.
The 0.0674-acre property is located at 84 Coggeshall Street in Providence, near Providence College, shopping, dining, and public transportation. The home is zoned R3 and is scheduled for completion in 2026. Building features include 6-inch construction, vinyl siding, Pella windows, laminate flooring, natural gas and heat pump systems, central air through the heat pump, public water, basement window wells, and a porch.
The 0.0674-acre property is located at 84 Coggeshall Street in Providence, near Providence College, shopping, dining, and public transportation. The home is zoned R3 and is scheduled for completion in 2026. Building features include 6-inch construction, vinyl siding, Pella windows, laminate flooring, natural gas and heat pump systems, central air through the heat pump, public water, basement window wells, and a porch.
Key Highlights
- Two‑unit duplex with 9 bedrooms and 3 bathrooms
- First‑level unit has 3 bedrooms and 1 bathroom
- Townhouse‑style second unit includes 6 bedrooms, a recreation room, and 2 full bathrooms
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
$50,658
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
6.14%
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%
$1,013,160
$1.0M
Cap Rate 7%
$723,686
$723.7K
Cap Rate 9%
$562,867
$562.9K
Market Conditions
NOI Build-Up for 3,000 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
$77.4K $25.80/SF
− Vacancy
−$5.0K −$1.68/SF
EGI
$72.4K $24.12/SF
− OpEx
−$21.7K −$7.24/SF
NOI
$50.7K $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%
$1,013,160
Cap Rate 7%
$723,686
Cap Rate 9%
$562,867
Alternative Uses
Best Use
Multifamily LT 5
$723.7K
$633.2K – $844.3K
NOI $50,658 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$650.0K
$568.8K – $758.4K
NOI $45,502 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.00M
$878.2K – $1.17M
NOI $70,256 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
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 - Separate utilities and flexible layouts support owner-occupant or rental use near Providence College.
Where is this duplex located?
The property is located at 84 Coggeshall Street Providence, RI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two‑unit duplex with 9 bedrooms and 3 bathrooms; First‑level unit has 3 bedrooms and 1 bathroom; Townhouse‑style second unit includes 6 bedrooms, a recreation room, and 2 full bathrooms
