Two-Unit Duplex with Basement ADU
For Sale
$585,000
94 Clym Street, Providence, RI 02908
MULTI_FAMILY - Providence, RI
Property Size2,513 SF
Lot Size0.09 Acres
Price / SF$232.79
Days on Market16
Property Features for 94 Clym Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 6, Bedroom 5, Basement, Bedroom 2
Parking
3
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Plumbing (Mixed), Insulation (Unknown)
Basement
Full, Unfinished
Appliances
Gas Water Heater
Standard status
Active
Size
2,513 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2751
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Dry Wall, Plaster, Vinyl Siding
Listing Agency:
Here Realty
(401) 862-1251
Listed By:
Oteeven Diggs
(401) 548-2351
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 12 at 9:06AM
MLS# 1419086
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 two-unit duplex offers two three-bedroom units and includes a full basement. The home was built in 1930 and features a mix of dry wall and plaster interior finishes, vinyl siding, and plumbing described as mixed. Heating is natural gas with baseboard units, and the property is served by public sewer. A gas water heater is included, and the basement presents potential for a future ADU, subject to approvals. The roof is described as newer.
The property is located in Providence and is described as being just minutes from I-95 North & South and Route 146, supporting convenient commuting throughout Rhode Island.
The configuration supports both investment and owner-occupied use, with two separate units and basement space that may be leveraged for additional flexibility through the ADU process.
The property is located in Providence and is described as being just minutes from I-95 North & South and Route 146, supporting convenient commuting throughout Rhode Island.
The configuration supports both investment and owner-occupied use, with two separate units and basement space that may be leveraged for additional flexibility through the ADU process.
Key Highlights
- Two‑unit duplex with two three‑bedroom units
- 0.0918‑acre lot and 2,513 SF building size
- Newer roof
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
2
Residential units
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 three-bedroom units with a full basement and potential for an ADU, plus a newer roof and natural gas heat.
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‑unit duplex with two three‑bedroom units; 0.0918‑acre lot and 2,513 SF building size; Newer roof
