Two-Unit Duplex with Full
For Sale
$585,000
94 Clym Street, Providence, RI 02908
Two residential units offer a practical duplex layout with basement space and convenient regional highway access.
Property Size2,513 SF
Price / SF$232.79
Days on Market16
Property Features for 94 Clym Street
General Information
Standard status
Active
Size
2,513 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
HERE Realty
(401) 862-1251
Listed By:
Oteeven Diggs
Source:
Lockandkeyre
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 6:25AM
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 HERE Realty
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two residential units, each configured with 3 bedrooms, within a 2,513-square-foot building. A newer roof and full basement add to the property’s existing improvements, while the basement may support a future ADU subject to approvals.
The property is located near I-95 North & South and Route 146, providing access to regional commuting routes. The sale is contingent on the seller finding suitable housing.
The property is located near I-95 North & South and Route 146, providing access to regional commuting routes. The sale is contingent on the seller finding suitable housing.
Key Highlights
- Two 3‑bedroom residential units
- 2,513‑square‑foot duplex built in 1930
- Newer roof and full basement
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
$42,435
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
7.25%
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%
$848,700
$848.7K
Cap Rate 7%
$606,214
$606.2K
Cap Rate 9%
$471,500
$471.5K
Market Conditions
NOI Build-Up for 2,513 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
$64.8K $25.80/SF
− Vacancy
−$4.2K −$1.68/SF
EGI
$60.6K $24.12/SF
− OpEx
−$18.2K −$7.24/SF
NOI
$42.4K $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%
$848,700
Cap Rate 7%
$606,214
Cap Rate 9%
$471,500
Alternative Uses
Best Use
Multifamily LT 5
$606.2K
$530.4K – $707.3K
NOI $42,435 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$544.5K
$476.5K – $635.3K
NOI $38,116 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$840.7K
$735.6K – $980.9K
NOI $58,851 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 02908, RI
38,507
Population
17,160
Households
2.2
Avg Household Size
32
Median Age
29%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
11,326
Density / Sq Mi
$74,341
Median Household Income
$42,947
Median Earnings
$1,381
Median Rent
$293,800
Median Home Value
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 - Two residential units offer a practical duplex layout with basement space and convenient regional highway access.
Where is this duplex located?
The property is located at 94 Clym Street Providence, RI.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two 3‑bedroom residential units; 2,513‑square‑foot duplex built in 1930; Newer roof and full basement
