Two-Unit
For Sale
$475,000
Pending
98 Andem St., Providence, RI 02909
Residential Income, Providence, RI
Property Size2,265 SF
Lot Size0.09 Acres
Days on Market149
Property Features for 98 Andem St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Basement, Bathroom 3, Bedroom 2
Parking
4
Parking features
None
Interior features
Wall (Plaster), Stairs
Basement
Unfinished, Partial, Storage Space
Appliances
Oven, Range, Refrigerator, Gas Water Heater
Lot features
Paved Driveway
Standard status
Pending
Size
2,265 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6178
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
1885
Floors in Building
3
Number of units
2
Flooring type
Hardwood
Building materials
Plaster, Shingles
Listing Agency:
Real Broker, Llc
(855) 450-0442
Listed By:
Melanie Fougere
(401) 662-0363
Added: May 20
Changed: Sep 26
Last Checked: Oct 15 at 12:06PM
MLS# 1417777
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 1885-built duplex contains 2,265 square feet across two separate living areas. Interior details include hardwood floors, plaster walls, and baseboard heat fueled by natural gas. The property also has an oven, range, refrigerator, and gas water heater.
The 0.092-acre property is in Providence, with access to downtown, major highways, dining, shopping, and local amenities.
The 0.092-acre property is in Providence, with access to downtown, major highways, dining, shopping, and local amenities.
Key Highlights
- Two separate living areas
- 2,265 square feet on a 0.092‑acre lot
- Built in 1885
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,247
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$764,940
$764.9K
Cap Rate 7%
$546,386
$546.4K
Cap Rate 9%
$424,967
$425.0K
Market Conditions
NOI Build-Up for 2,265 SF
Gross rent
$58.4K $25.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$54.6K $24.12/SF
− OpEx
−$16.4K −$7.24/SF
NOI
$38.2K $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 Rate 5%
$764,940
Cap Rate 7%
$546,386
Cap Rate 9%
$424,967
Alternative Uses
Best Use
Multifamily LT 5
$546.4K
$478.1K – $637.5K
NOI $38,247 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$490.8K
$429.4K – $572.6K
NOI $34,354 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$757.8K
$663.1K – $884.1K
NOI $53,044 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,626
Businesses Nearby
Explore this area
Business Placement
Demographics for 02909, RI
46,119
Population
18,602
Households
2.5
Avg Household Size
31
Median Age
24%
College-Educated
80%
High-School Grad
3.1 sq mi
ZIP Area
14,877
Density / Sq Mi
$63,950
Median Household Income
$37,090
Median Earnings
$1,258
Median Rent
$283,800
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate living areas support rental use or occupancy across both units.
Where is this duplex located?
The property is located at 98 Andem St. Providence, RI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two separate living areas; 2,265 square feet on a 0.092‑acre lot; Built in 1885
