Renovated Two-Family
87 Lyman Avenue North Providence, RI 02911
New
87 Lyman Avenue, North Providence, RI, 02911
$599,900
For Sale
$599,900
MULTI_FAMILY - North Providence, RI
Property Size1,802 SF
Lot Size0.21 Acres
Price / SF$332.91
Days on Market2
Property Features for 87 Lyman Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Basement, Bedroom 2
- Parking
- 3
- Interior features
- Stairs, Insulation (Unknown)
- Basement
- Unfinished, Full
- Appliances
- Gas Water Heater, Oven/Range, Refrigerator
- Standard status
- Active
- Size
- 1,802 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6113
Utilities
- Heating system
- Baseboard, Natural Gas, Steam
Building Details
- Year built
- 1915
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Hardwood
- Building materials
- Vinyl Siding
Listing agency
Westcott Properties
(401) 421-5300
Listed by
Kristina St. Andre
(401) 421-5300
Added: Jul 20 Checked: Jul 21 at 7:06AM
MLS# 1418377
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This beautifully renovated two-family home offers two units, each with two bedrooms and hardwood floors throughout. Both units include brand-new kitchens with stainless steel appliances and granite countertops, along with tastefully updated bathrooms. Additional living space is provided by sun-filled enclosed porches connected to each unit’s layout.
The property sits on a corner lot with outdoor space and includes a detached two-car garage and abundant storage. Located in North Providence, the home is described as being near shopping, dining, and major highways, supporting convenient day-to-day access.
With thoughtful layouts designed to maximize comfort and functionality, this turnkey multifamily presents a flexible option for either investment or owner-occupancy, with practical support features including enclosed porch space and on-site parking/storage.
The property sits on a corner lot with outdoor space and includes a detached two-car garage and abundant storage. Located in North Providence, the home is described as being near shopping, dining, and major highways, supporting convenient day-to-day access.
With thoughtful layouts designed to maximize comfort and functionality, this turnkey multifamily presents a flexible option for either investment or owner-occupancy, with practical support features including enclosed porch space and on-site parking/storage.
Key Highlights
- Two‑family home built in 1915 with updated interiors and vinyl siding
- Each unit offers 2 bedrooms with hardwood flooring throughout
- New kitchen in each unit with stainless steel appliances, oven/range, refrigerator, and granite countertops
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 | $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
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Turnkey two-family with two bedrooms per unit, renovated kitchens, and enclosed porches on a corner lot.
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 updated interiors and vinyl siding; Each unit offers 2 bedrooms with hardwood flooring throughout; New kitchen in each unit with stainless steel appliances, oven/range, refrigerator, and granite countertops
