Side-by-Side
New
For Sale
$485,000
95 Providence Street, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size2,005 SF
Lot Size0.15 Acres
Price / SF$241.90
Days on Market4
Property Features for 95 Providence Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7.5
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 7, Bedroom 3, Bathroom 2, Bedroom 6, Basement, Bedroom 4, Bathroom 3
Parking
2
Parking features
None
Window features
Storm Window(s)
Patio and Porch features
Patio
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Exterior features
Patio
Basement
Full, Storage Space, Partially Finished
Appliances
Gas Water Heater, Dishwasher, Dryer, Range Hood, Microwave, Oven/Range, Refrigerator, Washer, Whirlpool
Subdivision
West Warwick Center
Lot features
Fenced, Paved Driveway, Sidewalks
View
Water
Standard status
Active
Size
2,005 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5714
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
on-site laundry
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Carpet, Laminate, Tile - Ceramic
Building materials
Dry Wall, Plaster, Shingles, Vinyl Siding
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Elizabeth Carrison · License #RES.0043248
(401) 500-6377
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 26 at 10:06AM
MLS# 1416211
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 legal two-family property contains 2,005 square feet on a 0.146-acre lot and was built in 1900. The residences are arranged side by side across three levels, with distinct layouts and separate utilities. Unit 95 includes 4 bedrooms, 2 full baths, and a first-level summer kitchen, while Unit 97 provides 3 bedrooms and 1 full bath. Each unit has its own laundry area, and the property includes a patio, public water, natural-gas forced-air heat, and window-unit cooling.
The property is located in West Warwick near schools, shopping, dining, and commuter routes including I-95, I-295, Route 2/Bald Hill Road, and Route 4. Both units are currently tenant-occupied and are scheduled to be delivered vacant at transfer. The roof is approximately 10 years old, with a roof contract and utility bills available for review during showings.
The property is located in West Warwick near schools, shopping, dining, and commuter routes including I-95, I-295, Route 2/Bald Hill Road, and Route 4. Both units are currently tenant-occupied and are scheduled to be delivered vacant at transfer. The roof is approximately 10 years old, with a roof contract and utility bills available for review during showings.
Key Highlights
- Legal two‑family property with 2,005 square feet
- 0.146‑acre lot with side‑by‑side residences
- Unit 95: 4 bedrooms, 2 full baths, and a first‑level summer kitchen
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
$29,132
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
6.01%
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%
$582,640
$582.6K
Cap Rate 7%
$416,171
$416.2K
Cap Rate 9%
$323,689
$323.7K
Market Conditions
NOI Build-Up for 2,005 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
$44.5K $22.20/SF
− Vacancy
−$2.9K −$1.44/SF
EGI
$41.6K $20.76/SF
− OpEx
−$12.5K −$6.23/SF
NOI
$29.1K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /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%
$582,640
Cap Rate 7%
$416,171
Cap Rate 9%
$323,689
Alternative Uses
Best Use
Multifamily LT 5
$416.2K
$364.2K – $485.5K
NOI $29,132 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$382.3K
$334.5K – $446.1K
NOI $26,763 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$502.2K
$439.4K – $585.9K
NOI $35,152 @ 7.0% cap · market cap 7.25%
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
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
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 - Separate utilities and dedicated laundry serve both residences.
Where is this duplex located?
The property is located at 95 Providence Street West Warwick, RI.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Legal two‑family property with 2,005 square feet; 0.146‑acre lot with side‑by‑side residences; Unit 95: 4 bedrooms, 2 full baths, and a first‑level summer kitchen
