Two-Unit Duplex with Detached
For Sale
$599,000
904 Newport Avenue, Pawtucket, RI 02861
Residential Income, Pawtucket, RI
Property Size2,756 SF
Lot Size0.11 Acres
Price / SF$217.34
Days on Market13
Property Features for 904 Newport Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Basement, Bedroom 1
Parking
6
Interior features
Wall (Cermaic), Wall (Paneled), Wall (Plaster), Plumbing (Copper), Plumbing (Mixed), Plumbing (PVC), Insulation (Unknown)
Basement
Unfinished, Full
Appliances
Dishwasher, Oven, Range, Refrigerator
Subdivision
Darlington
Standard status
Active
Size
2,756 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6611
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
enclosed porch
hardwood floors
energy efficient windows
unfinished basement
laundry area
rear yard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile - Ceramic, Hardwood
Building materials
Ceramic, Paneled, Plaster, Vinyl Siding
Listing Agency:
World Net Real Estate Group
(401) 732-1722
Listed By:
Michael Capuano
(401) 255-6244
Added: Sep 15
Changed: Sep 27
Last Checked: Sep 27 at 2:06PM
MLS# 1423435
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 2,756-square-foot duplex contains two three-bedroom units, each measuring 1,378 square feet. Both residences feature a living room, dining and kitchen areas, and an enclosed porch. Hardwood flooring is present in most rooms, and insulated windows serve both units. Two new 100-amp electrical services were recently installed. The unfinished basement provides laundry space and storage, while a detached two-car garage and rear yard complete the property. Built in 1900, the building sits on 0.1148 acres and is zoned R2.
The property is on Newport Avenue in Pawtucket, with shopping, restaurants, schools, support services, and transportation nearby. The MBTA commuter rail connects the area with Providence and Boston employment centers; I-95 and Slater Park are also close by.
The property is on Newport Avenue in Pawtucket, with shopping, restaurants, schools, support services, and transportation nearby. The MBTA commuter rail connects the area with Providence and Boston employment centers; I-95 and Slater Park are also close by.
Key Highlights
- Two three‑bedroom units, each with 1,378 square feet
- 2,756‑square‑foot building on a 0.1148‑acre lot
- Detached two‑car garage and rear yard
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
$45,889
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
7.66%
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%
$917,780
$917.8K
Cap Rate 7%
$655,557
$655.6K
Cap Rate 9%
$509,878
$509.9K
Market Conditions
NOI Build-Up for 2,756 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
$70.1K $25.44/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$65.6K $23.79/SF
− OpEx
−$19.7K −$7.14/SF
NOI
$45.9K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /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%
$917,780
Cap Rate 7%
$655,557
Cap Rate 9%
$509,878
Alternative Uses
Best Use
Multifamily LT 5
$655.6K
$573.6K – $764.8K
NOI $45,889 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$520.3K
$455.2K – $607.0K
NOI $36,419 @ 7.0% cap · market cap 6.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Explore this area
Business Placement
Demographics for 02861, RI
27,833
Population
11,928
Households
2.3
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
3.6 sq mi
ZIP Area
7,731
Density / Sq Mi
$83,044
Median Household Income
$47,384
Median Earnings
$1,278
Median Rent
$285,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Each residence has three bedrooms, an enclosed porch, and generous living and dining areas.
Where is this duplex located?
The property is located at 904 Newport Avenue Pawtucket, RI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two three‑bedroom units, each with 1,378 square feet; 2,756‑square‑foot building on a 0.1148‑acre lot; Detached two‑car garage and rear yard
