Renovated Two-Family
87 Lyman Avenue North Providence, RI 02911
New
For Sale
$599,900
Turnkey renovated two-family home with two bedrooms per unit, updated kitchens and baths, and enclosed porches.
Property Size1,802 SF
Price / SF$332.91
Days on Market2
Property Features for 87 Lyman Avenue
General Information
- Standard status
- Active
- Size
- 1,802 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1915
Listing Agency:
Westcott Properties
(401) 421-5300
Listed By:
Kristina St. Andre · License #41446
Source:
Onshorerealtors
Added: Jul 22
Changed: Jul 23
Last Checked: Jul 23 at 2:56AM
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 Westcott Properties
Investment Insights
Based on property information with market context.
This beautifully renovated two-family residence offers updated, move-in-ready living across two separate units. Each unit includes two bedrooms, hardwood floors throughout, and a sun-filled enclosed porch that adds flexible interior space. Both kitchens have been newly installed with stainless steel appliances and granite countertops, and the bathrooms have been tastefully updated.
The property sits on a corner lot and includes a detached two-car garage plus additional outdoor space and storage.
With a thoughtfully designed layout and modern upgrades throughout, the home is well suited to either an owner-occupant or an investor seeking a turnkey residential income property.
The property sits on a corner lot and includes a detached two-car garage plus additional outdoor space and storage.
With a thoughtfully designed layout and modern upgrades throughout, the home is well suited to either an owner-occupant or an investor seeking a turnkey residential income property.
Key Highlights
- Two‑family home built in 1915 with two bedrooms in each unit
- Each unit includes a brand‑new kitchen with stainless steel appliances and granite countertops
- Updated bathrooms in both units
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 | $45.8k | $25.44 |
| − Vacancy | −$3.0k | −$1.65 |
| EGI | $42.9k | $23.79 |
| − OpEx | −$12.9k | −$7.14 |
| NOI | $30.0k | $16.65 |
1,802 SF · lease $25.44/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$428.6K
$375.1K – $500.1K
NOI $30,004 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$340.2K
$297.7K – $396.9K
NOI $23,813 @ 7.0% cap · market cap 3.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Turnkey renovated two-family home with two bedrooms per unit, updated kitchens and baths, and enclosed porches.
Where is this duplex located?
The property is located at 87 Lyman Avenue North Providence, RI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑family home built in 1915 with two bedrooms in each unit; Each unit includes a brand‑new kitchen with stainless steel appliances and granite countertops; Updated bathrooms in both units
