Renovated Duplex with Flexible Unit
For Sale
$750,000
Pending
85 E George St, Providence, RI 02905
Renovated Providence duplex with hardwood floors, high ceilings, and two unit layouts that can flex between one- and two-bedroom configurations.
Property Size2,375 SF
Days on Market36
Property Features for 85 E George St
General Information
Standard status
Pending
Size
2,375 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,600
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Samson Realty, Ltd.
(401) 454-5454
Listed By:
Martin Saklad
(401) 454-5454
Source:
Exprealty
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 12 at 2:47PM
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 Samson Realty, Ltd.
Investment Insights
Based on property information with market context.
This renovated duplex at 85 E George St offers bright, airy interiors in a classic East Side corner setting. Both units feature high ceilings and hardwood floors, bringing natural light into the living spaces. The first-floor unit includes two bedrooms. The second-floor unit can be configured as either a one-bedroom with additional living space or as a two-bedroom, providing flexibility for different household needs.
Renovated kitchens include stainless steel appliances, new countertops, and cabinetry. The property’s dual-unit arrangement supports owner-occupied living, investment use, or multigenerational options, with both units designed to feel open and comfortable.
With a total property size of 2,375 SF, this duplex is positioned in Fox Point, one of Providence’s most vibrant neighborhoods, combining contemporary updates with established East Side character.
Renovated kitchens include stainless steel appliances, new countertops, and cabinetry. The property’s dual-unit arrangement supports owner-occupied living, investment use, or multigenerational options, with both units designed to feel open and comfortable.
With a total property size of 2,375 SF, this duplex is positioned in Fox Point, one of Providence’s most vibrant neighborhoods, combining contemporary updates with established East Side character.
Key Highlights
- Corner‑setting duplex in Fox Point, Providence
- High ceilings and hardwood floors throughout both units
- First‑floor unit has two bedrooms
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
$40,104
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
5.35%
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%
$802,080
$802.1K
Cap Rate 7%
$572,914
$572.9K
Cap Rate 9%
$445,600
$445.6K
Market Conditions
NOI Build-Up for 2,375 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
$61.3K $25.80/SF
− Vacancy
−$4.0K −$1.68/SF
EGI
$57.3K $24.12/SF
− OpEx
−$17.2K −$7.24/SF
NOI
$40.1K $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%
$802,080
Cap Rate 7%
$572,914
Cap Rate 9%
$445,600
Alternative Uses
Best Use
Multifamily LT 5
$572.9K
$501.3K – $668.4K
NOI $40,104 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$514.6K
$450.3K – $600.4K
NOI $36,023 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$794.6K
$695.3K – $927.0K
NOI $55,620 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 02905, RI
26,334
Population
10,361
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
77%
High-School Grad
3.7 sq mi
ZIP Area
7,117
Density / Sq Mi
$57,126
Median Household Income
$36,799
Median Earnings
$1,103
Median Rent
$322,700
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 - Renovated Providence duplex with hardwood floors, high ceilings, and two unit layouts that can flex between one- and two-bedroom configurations.
Where is this duplex located?
The property is located at 85 E George St Providence, RI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Corner‑setting duplex in Fox Point, Providence; High ceilings and hardwood floors throughout both units; First‑floor unit has two bedrooms
