Duplex With Private
For Sale
$474,900
89 Manomet Street, Providence, RI 02909
Each residence has two bedrooms, one bathroom, and its own basement with laundry hookups and storage.
Property Size2,676 SF
Price / SF$177.47
Days on Market8
Property Features for 89 Manomet Street
General Information
Standard status
Active
Size
2,676 SF
Property subtype
MultiFamily
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
central air
off-street parking
backyard
private basement
laundry hookups
Building Details
Year Built
1987
Buildings
1
Listing Agency:
RE/MAX Properties
(401) 232-3900
Listed By:
Kenneth Scotti · License #REB.0016785
(401) 354-4971
Source:
Lockandkeyre
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 12 at 6:56PM
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 RE/MAX Properties
Investment Insights
Based on property information with market context.
This 2,676-square-foot duplex, built in 1987, contains two front-to-back residences with townhouse-style layouts. Each unit has two bedrooms and one full bathroom, with kitchen, dining, and living areas arranged on the main level. Both units also have private basements with laundry hookups and storage. Property features include central air, gas heat, and a new roof; the front unit has been freshly painted.
The property is at 89 Manomet Street in Providence. Off-street parking and a backyard are also part of the offering.
The property is at 89 Manomet Street in Providence. Off-street parking and a backyard are also part of the offering.
Key Highlights
- Two‑unit duplex with 2,676 square feet; built in 1987
- Both units have 2 bedrooms and 1 full bathroom
- Private basement in each unit, with laundry hookups and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,588
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,760
$811.8K
Cap Rate 7%
$579,829
$579.8K
Cap Rate 9%
$450,978
$451.0K
Market Conditions
NOI Build-Up for 2,676 SF
Gross rent
$78.7K $29.40/SF
− Vacancy
−$4.9K −$1.82/SF
EGI
$73.8K $27.58/SF
− OpEx
−$33.2K −$12.41/SF
NOI
$40.6K $15.17/SF
Area
Providence, RI
Vacancy
6.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,760
Cap Rate 7%
$579,829
Cap Rate 9%
$450,978
Alternative Uses
Best Use
Multifamily LT 5
$645.5K
$564.8K – $753.1K
NOI $45,187 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$579.8K
$507.4K – $676.5K
NOI $40,588 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$895.3K
$783.4K – $1.04M
NOI $62,669 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
490
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 - Each residence has two bedrooms, one bathroom, and its own basement with laundry hookups and storage.
Where is this duplex located?
The property is located at 89 Manomet Street Providence, RI.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,676 square feet; built in 1987; Both units have 2 bedrooms and 1 full bathroom; Private basement in each unit, with laundry hookups and storage
