Duplex with Finished
For Sale
$580,000
94 Anthony Street East, Providence, RI 02914
Two residential units feature comfortable layouts, updated systems, and flexible lower-level storage and utility space.
Property Size1,967 SF
Days on Market81
Property Features for 94 Anthony Street East
General Information
Standard status
Active
Size
1,967 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
Baseboard
Gas
Gas Water Heater
Building Details
Building Size
1,967 SF
Year Built
1910
Stories
3
Listing Agency:
Keller Williams Realty
(857) 206-9165
Listed By:
Alvarino Barbosa
(857) 206-9165
Source:
Kw
Added: Jun 11
Changed: Aug 30
Last Checked: Aug 30 at 2:40PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1910, this duplex contains two residential units, each with two bedrooms, one full bathroom, an eat-in kitchen, and a living room. Hardwood flooring extends through the bedrooms and living areas, while the kitchens feature ceramic flooring. A finished loft occupies the third level, adding flexible interior space. Vinyl siding has been replaced, and the electrical, plumbing, and sewer systems have been updated.
The basement includes a separate storage room, laundry hookups compatible with gas or electric appliances, and a utility room. Access is available from inside the property or outdoors through a rear mudroom addition. The garage area is supplemented by two recently added parking spaces. The property is located at 94 Anthony Street in East Providence, Rhode Island.
The basement includes a separate storage room, laundry hookups compatible with gas or electric appliances, and a utility room. Access is available from inside the property or outdoors through a rear mudroom addition. The garage area is supplemented by two recently added parking spaces. The property is located at 94 Anthony Street in East Providence, Rhode Island.
Key Highlights
- Two residential units with two bedrooms and one full bath each
- Finished loft on the third level
- Updated electrical, plumbing, and sewer systems
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
$33,215
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
5.73%
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%
$664,300
$664.3K
Cap Rate 7%
$474,500
$474.5K
Cap Rate 9%
$369,056
$369.1K
Market Conditions
NOI Build-Up for 1,967 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
$50.7K $25.80/SF
− Vacancy
−$3.3K −$1.68/SF
EGI
$47.4K $24.12/SF
− OpEx
−$14.2K −$7.24/SF
NOI
$33.2K $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%
$664,300
Cap Rate 7%
$474,500
Cap Rate 9%
$369,056
Alternative Uses
Best Use
Multifamily LT 5
$474.5K
$415.2K – $553.6K
NOI $33,215 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$426.2K
$372.9K – $497.2K
NOI $29,834 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$658.1K
$575.8K – $767.8K
NOI $46,065 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 02914, RI
22,140
Population
10,082
Households
2.2
Avg Household Size
43
Median Age
25%
College-Educated
82%
High-School Grad
4.9 sq mi
ZIP Area
4,518
Density / Sq Mi
$60,838
Median Household Income
$43,696
Median Earnings
$1,165
Median Rent
$309,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature comfortable layouts, updated systems, and flexible lower-level storage and utility space.
Where is this duplex located?
The property is located at 94 Anthony Street East Providence, RI.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Two residential units with two bedrooms and one full bath each; Finished loft on the third level; Updated electrical, plumbing, and sewer systems
