Side-by-Side Duplex
85 Congdon Street Providence, RI 02906
New
85 Congdon Street, Providence, RI, 02906
$2,150,000
For Sale
$2,150,000
Side-by-side duplex with updated kitchens and bathrooms, private outdoor space, and separate utilities.
Property Size5,500 SF
Price / SF$390.91
Days on Market5
Property Features for 85 Congdon Street
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1850
Listing Agency
William Raveis Inspire
(401) 751-8100
Listed by
Spencer Kelleher
Source
Lockandkeyre
Added: Jul 15 Checked: Jul 18 at 3:33 am
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 William Raveis Inspire
Investment Insights
Based on property information with market context.
This side-by-side duplex offers two separate units, each with updated kitchens and bathrooms, along with an open floor plan and private outdoor space. The property also includes updated mechanicals and separate utilities for the units.
Located at 85–87 Congdon Street on College Hill, the duplex is right next to Prospect Terrace, providing convenient access to the surrounding area.
Additional parking and storage options include two garage spaces and two outdoor parking spaces.
Located at 85–87 Congdon Street on College Hill, the duplex is right next to Prospect Terrace, providing convenient access to the surrounding area.
Additional parking and storage options include two garage spaces and two outdoor parking spaces.
Key Highlights
- Side‑by‑side duplex built in 1850 with updated kitchens and bathrooms in each unit
- Each unit features an open floor plan and private outdoor space
- Property generates $13,200/month in rental income and is leased many months in advance each year
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $141.9k | $25.80 |
| − Vacancy | −$9.2k | −$1.68 |
| EGI | $132.7k | $24.12 |
| − OpEx | −$39.8k | −$7.24 |
| NOI | $92.9k | $16.89 |
5,500 SF · lease $25.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,874 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,421 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,803 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Side-by-side duplex with updated kitchens and bathrooms, private outdoor space, and separate utilities.
Where is this duplex located?
The property is located at 85 Congdon Street Providence, RI.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1850 with updated kitchens and bathrooms in each unit; Each unit features an open floor plan and private outdoor space; Property generates $13,200/month in rental income and is leased many months in advance each year
