Updated Duplex Townhouse
For Sale
$539,900
851 Manton Ave, Providence, RI 02909
Side-by-side townhouse-style duplex offers two 3-bedroom units with in-unit laundry, updated interiors, and oversized two-car garages.
Property Size1,800 SF
Price / SF$299.94
Days on Market54
Property Features for 851 Manton Ave
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Yorway Realty
Listed By:
Stephanie Barbusci
(401) 954-0324
Source:
Alpernandmesenbourg
Added: Jul 20
Changed: Sep 8
Last Checked: Sep 9 at 9:15PM
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 Yorway Realty
Investment Insights
Based on property information with market context.
851 Manton Avenue presents a beautifully updated, side-by-side townhouse-style duplex designed to feel like two separate homes under one roof. Each unit includes three bedrooms, one full bath, updated kitchens and bathrooms, new flooring, and in-unit laundry for everyday convenience. The layout provides privacy while maintaining a comfortable, functional flow within each side.
The property includes a fenced backyard for outdoor use. Under each unit, there is an oversized two-car garage with room for vehicles, storage, and additional projects.
Located close to shopping, restaurants, schools, parks, public transportation, and major highways, the duplex offers straightforward access to area amenities. The home is move-in ready, with updates throughout and clear upside for owner-occupancy alongside rental income.
The property includes a fenced backyard for outdoor use. Under each unit, there is an oversized two-car garage with room for vehicles, storage, and additional projects.
Located close to shopping, restaurants, schools, parks, public transportation, and major highways, the duplex offers straightforward access to area amenities. The home is move-in ready, with updates throughout and clear upside for owner-occupancy alongside rental income.
Key Highlights
- 1940‑built side‑by‑side townhouse‑style duplex with two 3‑bedroom units and 1 full bath per unit
- Updated kitchens and bathrooms, plus new flooring in both units
- In‑unit laundry in each of the two units
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
$30,395
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
5.63%
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%
$607,900
$607.9K
Cap Rate 7%
$434,214
$434.2K
Cap Rate 9%
$337,722
$337.7K
Market Conditions
NOI Build-Up for 1,800 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
$46.4K $25.80/SF
− Vacancy
−$3.0K −$1.68/SF
EGI
$43.4K $24.12/SF
− OpEx
−$13.0K −$7.24/SF
NOI
$30.4K $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%
$607,900
Cap Rate 7%
$434,214
Cap Rate 9%
$337,722
Alternative Uses
Best Use
Multifamily LT 5
$434.2K
$379.9K – $506.6K
NOI $30,395 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$390.0K
$341.3K – $455.0K
NOI $27,301 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$602.2K
$526.9K – $702.6K
NOI $42,154 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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 - Side-by-side townhouse-style duplex offers two 3-bedroom units with in-unit laundry, updated interiors, and oversized two-car garages.
Where is this duplex located?
The property is located at 851 Manton Ave Providence, RI.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 1940‑built side‑by‑side townhouse‑style duplex with two 3‑bedroom units and 1 full bath per unit; Updated kitchens and bathrooms, plus new flooring in both units; In‑unit laundry in each of the two units
