Renovated Side-by-Side
For Sale
$434,000
84 Standish Ave, Providence, RI 02908
Two-family layout with private entrances, updated flooring, and a contemporary kitchen on one side.
Property Size1,302 SF
Price / SF$333.33
Days on Market10
Property Features for 84 Standish Ave
General Information
Standard status
Active
Size
1,302 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1981
Listing Agency:
Pyramid Realty Inc
Listed By:
Martha Habib
(401) 323-4315
Source:
Alpernandmesenbourg
Added: Sep 18
Last Checked: Sep 26 at 10:42AM
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 Pyramid Realty Inc
Investment Insights
Based on property information with market context.
Built in 1981, this side-by-side duplex has been renovated with private entryways, new exterior siding, and updated flooring. One side features an open-plan interior with a contemporary kitchen equipped with quartz countertops, Shaker-style cabinetry, and stainless steel appliances. The interior design creates a modern, functional feel across the updated space.
The property is situated in Providence near Triggs Golf Course and Providence College, with shopping, dining, and everyday conveniences nearby. Its two-family configuration supports a range of residential ownership and occupancy arrangements, subject to applicable requirements.
The property is situated in Providence near Triggs Golf Course and Providence College, with shopping, dining, and everyday conveniences nearby. Its two-family configuration supports a range of residential ownership and occupancy arrangements, subject to applicable requirements.
Key Highlights
- Side‑by‑side two‑family property built in 1981
- Private entryways for the two‑family layout
- New exterior siding and updated flooring
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
$21,986
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
5.07%
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%
$439,720
$439.7K
Cap Rate 7%
$314,086
$314.1K
Cap Rate 9%
$244,289
$244.3K
Market Conditions
NOI Build-Up for 1,302 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
$33.6K $25.80/SF
− Vacancy
−$2.2K −$1.68/SF
EGI
$31.4K $24.12/SF
− OpEx
−$9.4K −$7.24/SF
NOI
$22.0K $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%
$439,720
Cap Rate 7%
$314,086
Cap Rate 9%
$244,289
Alternative Uses
Best Use
Multifamily LT 5
$314.1K
$274.8K – $366.4K
NOI $21,986 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$282.1K
$246.9K – $329.1K
NOI $19,748 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$435.6K
$381.1K – $508.2K
NOI $30,491 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout with private entrances, updated flooring, and a contemporary kitchen on one side.
Where is this duplex located?
The property is located at 84 Standish Ave Providence, RI.
What is the asking price?
The asking price for this property is $434,000.
What are key features of this property?
This property features: Side‑by‑side two‑family property built in 1981; Private entryways for the two‑family layout; New exterior siding and updated flooring
