$510,000
SOLD JAN 4, 2023

74 Terrace Ave Providence, RI 02909

Silver Lake Neighborhood
8 Beds
4 Baths
3,744 Sq Ft
3,804 Sq Ft Lot

Recently Sold

$136 Per Sq Ft

2% Above List Price

24 Days on Market

Highlights

  • Wood Flooring
  • 2 Fireplaces
  • Recreation Facilities
  • Attic
  • Corner Lot
  • 3-minute walk to Clarence Street Playground

About This Home

As of January 2023

WOW, WOW, WOW!! Now this is a CASH COW!!
Cranston/ Prov Line!! Triplex on a corner lot with 3 car garage and yard!
Tenants pay Gas, Electric and Hot Water!
Unit 1 is Townhouse style with 3 Bedrooms, 2 full baths, Kitchen, double living room, storage and Laundry!
Unit 2 is one level with 2 beds, 1 full bath, modern kitchen, living room and in unit laundry!
Unit 3 has 3 bedrooms, a large eat in kitchen and living room.
Front and rear staircases for multiple means of egress.
Rental potential income: Unit 1 $1800+ Unit 2 $1700+ Unit 3 $1500+!
Turn-key money maker!! 1 Year Full Home Warranty to Buyer At Closing from American HomeShield!

********Owner/Seller is a RI Real Estate Licensee*********

Last Agent to Sell the Property

Adam Cardinal

HomeSmart Professionals License #RES.0035208 Listed on: 11/10/2022

HomeSmart Professionals

Last Buyer's Agent

Joshua DeBrossard

Century 21 Visionary Group License #RES.0041563

Century 21 Visionary Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,171

Year Built

  • Built in 1900

Lot Details

  • 3,804 Sq Ft Lot
  • Fenced
  • Corner Lot

Parking

  • 3 Car Detached Garage
  • Garage Door Opener

Home Design

  • Brick Foundation
  • Vinyl Siding
  • Concrete Perimeter Foundation
  • Masonry
  • Plaster

Interior Spaces

  • 3,744 Sq Ft Home
  • 3-Story Property
  • Dry Bar
  • 2 Fireplaces
  • Thermal Windows
  • Family Room
  • Living Room
  • Storage Room
  • Utility Room
  • Attic

Kitchen

  • Oven
  • Range with Range Hood

Flooring

  • Wood
  • Laminate
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 8 Bedrooms
  • Cedar Closet
  • 4 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Interior and Exterior Basement Entry

Home Security

  • Storm Windows
  • Storm Doors

Utilities

  • No Cooling
  • Heating System Uses Gas
  • Baseboard Heating
  • 100 Amp Service
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for hot water
  • Tax Lot 364
  • Assessor Parcel Number 74TERRACEAVPROV

Community Details

Overview

  • 2 Buildings
  • 3 Units
  • Prov / Cranston Line Subdivision

Amenities

  • Shops
  • Public Transportation

Recreation

  • Recreation Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,171

Year Built

Built in 1900

Lot Details

0

Parking

3

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.0873
  • Inclusions: ********Owner/Seller is a RI Real Estate Licensee*********
  • Subdivision Name: Prov / Cranston Line
  • Above Grade Finished Sq Ft: 3744.0
  • Garage Yn: Yes
  • New Construction: No
  • Structure Type: Apartment
  • Year Built: 1900
  • Special Features: VirtualTour

Interior Features

  • Number Of Buildings: 2
  • Appliances: Dryer, Exhaust Fan, Gas Water Heater, Oven, Range, Refrigerator, Range Hood, Water Heater, Washer
  • Has Basement: Exterior Entry, Full, Interior Entry, Partially Finished
  • Basement YN: Yes
  • Full Bathrooms: 4
  • Total Bedrooms: 8
  • Door Features: Storm Door(s)
  • Fireplace Features: None
  • Fireplaces: 2
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood, Laminate, Vinyl
  • Interior Amenities: Attic, Cedar Closet(s), Dry Bar, Cable TV
  • Dining Room Type: Bathroom, Family Room, Laundry, Living Room, Storage Room, Utility Room
  • Stories: 3
  • Window Features: Storm Window(s), Thermal Windows
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Fencing: Fenced
  • Lot Features: Corner Lot
  • Construction Type: Drywall, Plaster, Masonry, Vinyl Siding
  • Foundation Details: Brick/Mortar, Concrete Perimeter

Garage/Parking

  • Attached Garage: No
  • Covered Parking Spaces: 3.0
  • Garage Spaces: 3.0
  • Parking Features: Detached, Garage, Garage Door Opener
  • Total Parking Spaces: 6.0

Utilities

  • Laundry Features: In Unit
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Gas
  • Heating Yn: Yes
  • Electric: 100 Amp Service, Circuit Breakers
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Highway Access, Near Schools, Public Transportation, Recreation Area, Shopping, Sidewalks
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 3804.0
  • Parcel #: 74TERRACEAVPROV
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Hot Water

Multi Family

  • Number Of Units Total: 3

Tax Info

  • Tax Annual Amount: 6171.0
  • Tax Lot: 364
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 10, 2022
Closed on
Jan 4, 2023
Sold by
Cardinal Adam C and Cardinal Kelly L
Bought by
Solis Antonio
Seller's Agent
Adam Cardinal
HomeSmart Professionals
Buyer's Agent
Joshua DeBrossard
Century 21 Visionary Group
List Price
$499,900
Sold Price
$510,000
Premium/Discount to List
$10,100
2.02%
Current Estimated Value
$677,875

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$167,875
Avg. Annual Appreciation
8.15%
Original Mortgage
$408,000
Interest Rate
6.58%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 21, 2020
Sold by
Cardinal Adam C
Bought by
Cardinal Adam C and Cardinal Kelly L
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $510,000 None Available
Quit Claim Deed -- None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $420,000 Stand Alone Refi Refinance Of Original Loan
Closed $408,000 Purchase Money Mortgage
Previous Owner $240,000 Stand Alone Refi Refinance Of Original Loan
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/04/2023 01/04/23 Sold $510,000 +2.0% $136 / Sq Ft
12/05/2022 12/05/22 Pending -- -- --
11/10/2022 11/10/22 For Sale $499,900 +108.3% $134 / Sq Ft
01/31/2018 01/31/18 Sold $240,000 -4.0% $85 / Sq Ft
01/01/2018 01/01/18 Pending -- -- --
11/02/2017 11/02/17 For Sale $250,000 -- $89 / Sq Ft
Source: State-Wide MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $6,595 $359,400 $85,800 $273,600
2023 $6,595 $359,400 $85,800 $273,600
2022 $6,171 $346,700 $85,800 $260,900
2021 $5,317 $216,500 $48,700 $167,800
2020 $5,317 $216,500 $48,700 $167,800
2019 $5,317 $216,500 $48,700 $167,800
2018 $4,315 $135,000 $41,500 $93,500
2017 $4,315 $135,000 $41,500 $93,500
2016 $4,315 $135,000 $41,500 $93,500
2015 $3,816 $115,300 $41,500 $73,800
2014 $3,891 $115,300 $41,500 $73,800
2013 $3,891 $115,300 $41,500 $73,800
Source: Public Records

Agents Affiliated with this Home

  • Adam Cardinal

    Seller's Agent in 2023

    Adam Cardinal

    HomeSmart Professionals

    (866) 489-4674

    5 in this area

    180 Total Sales

    Adam Cardinal
    Section Image
  • Joshua DeBrossard

    Buyer's Agent in 2023

    Joshua DeBrossard

    Century 21 Visionary Group

    (401) 347-7410

    5 in this area

    99 Total Sales

    Joshua DeBrossard
    Section Image
  • Matt Patty

    Seller's Agent in 2018

    Matt Patty

    Real Broker, LLC

    (401) 269-6169

    228 Total Sales

    Matt Patty
    Section Image
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Map

Source: State-Wide MLS

MLS Number: 1324002

State-Wide MLS

APN: PROV-001040-000364-000000

Rhode Island Providence County Providence 02909 Silver Lake

74 Terrace Ave, Providence, RI

This home is located at 74 Terrace Ave, Providence, RI 02909 and is currently priced at $510,000, approximately $136 per square foot. This property was built in 1900. 74 Terrace Ave is a home located in Providence County with nearby schools including Charles N. Fortes Elementary School, Asa Messer Elementary School, and Laurel Hill Annex School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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