43 Jenkins St · Providence, RI 02906

$650,000

9 bd · 2.0 ba · 1,872 sqft · MultiFamily public records · 25 Days on market

Built 1900 5,227 sqft lot $347/sqft · 31% above area Est $715k · 9% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.3/30.0
• ARV discount +11.6/15.0
• DSCR +7.5/10.0
• 1% rule +5.2/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Beautifully updated 3-family home in Providence, RI, offering an incredible turnkey opportunity for investors or owner-occupants. Each unit features 1 bedroom and 1 full bathroom, with thoughtful renovations throughout the entire property. Enjoy brand-new kitchens with modern finishes, new flooring, updated electrical, fresh paint, and new siding that enhances both curb appeal and efficiency. Additional major improvements include a brand-new roof and a newly paved driveway. Off-street parking provides added convenience for tenants or residents. Ideally located near major highways, public transportation, shopping, and local amenities, this property offers exceptional accessibility. With stro

Key facts

• Updated electrical
• Fresh paint
• New siding

Tags

• UPDATED KITCHENS
• NEW FLOORING
• UPDATED ELECTRICAL
• FRESH PAINT
• NEW SIDING
• NEW ROOF

Property features AI

Exterior

• Parking: No garage; Space for 6 vehicles (total)
• Utilities: Sewer connected; Water connected; Electric with circuit breakers
• Home design: Single building containing multiple units; Above-grade finished area approximately 2,700
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.12 acres

Interior

• Kitchen: Gas water heater
• Bedrooms: Total rooms: 9; Property contains 3 total units
• Flooring: Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Baseboard heating (gas)
• Interior features: Full unfinished basement with interior entry; Laminate flooring

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $397/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $640k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.2% in Providence — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#2 in RI, #794 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, schools F.
• Providence (urban): math 8% / reading 16% proficiency, ranked #34 of 39 in RI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.5%/yr); 145 active listings in the ZIP; solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $6,625/mo this rent would consume 77% of the median local household income ($103k/yr) (locally 1567% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $182k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $305k; list at $650k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $640,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

• ARV (median comp): $715,426
• List price: $650,000
• Delta: 15.32%
• Verdict: OVERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.46% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $1,395
• Equity at exit: $96,917

10-year hold

• IRR: 13.7%
• Equity multiple: 2.31×
• Total profit: $237,935
• Equity at exit: $56,200

Cash invested: $182,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 31 Tenant-Leaning
• State Rhode Island: 31 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

30-day notice; strong tenant protections.

Methodology + full state rankings →

ZIP-level market 02906

• Rents YoY: 7.5%
• Active inventory: 145
• Price-to-rent: 24.5×

Monthly cashflow live

• Estimated rent: $6,625 medium
• Mortgage (P&I): −$3,409
• Tax from tax record: −$364 /mo · $4,363/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,391
• Net cashflow: $1,191

Break-even live

Break-even rent $5,118

Max offer price $650,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,559	-5% $1,375	+0% $1,191	+5% $1,007	+10% $823
Rent	-10% $667	-5% $929	+0% $1,191	+5% $1,452	+10% $1,714
Rate	-1.0pp $1,518	-0.5pp $1,356	base $1,191	+0.5pp $1,022	+1.0pp $851

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,624
Total (3 units)			$6,625

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $650,000 Active 25 DOM
2. 2026-06-17
   days on market $650,000 Active 24 DOM
3. 2026-06-16
   days on market $650,000 Active 23 DOM
4. 2026-06-15
   days on market $650,000 Active 22 DOM
5. 2026-06-13
   days on market $650,000 Active 20 DOM
6. 2026-06-09
   days on market $650,000 Active 16 DOM
7. 2026-06-08
   days on market $650,000 Active 15 DOM
8. 2026-06-07
   days on market $650,000 Active 14 DOM
9. 2026-06-05
   days on market $650,000 Active 11 DOM
10. 2026-06-03
    days on market $650,000 Active 10 DOM
11. 2026-06-02
    days on market $650,000 Active 9 DOM
12. 2026-06-01
    days on market $650,000 Active 8 DOM
13. 2026-05-31
    days on market $650,000 Active 7 DOM
14. 2026-05-07
    historical
15. 2026-04-07
    listed $825,000 Active
16. 2026-02-06
    historical
17. 2026-01-16
    price $645,000
18. 2026-01-05
    listed $649,900 Active
19. 2026-01-04
    historical
20. 2025-12-17
    listed $650,000 Active
21. 2025-10-07
    soldstatus $305,000
22. 2013-12-19
    price $160,000
23. 2010-04-01
    historical
24. 2009-12-24
    listed $163,000
25. 2009-01-25
    historical
26. 2008-07-26
    listed $170,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast RI · Partial reset (capped growth)

• Current annual tax: $4,363 · $364/mo
• Projected year-2 tax: $7,479 · $623/mo
• Expected delta: +$3,116/yr (+$260/mo · 71.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $79,500
• − Mortgage interest: −$36,410
• − Property taxes: −$4,363
• − Insurance: −$3,250
• − Repairs & maintenance: −$6,360
• − Management: −$6,360
• − Depreciation: −$18,909
• Taxable income: $3,848
• Est. tax owed @ 24.0%: −$923
• After-tax cash flow: $13,364/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Providence
• NCES district ID: 4400900
• Math proficiency: 8% ▼ -4.00%
• Reading proficiency: 16% ▼ -2.00%
• Median HH income: $38,197
• Composite: 10.12/100
• National rank: #9803
• State rank: #34 of 39 in RI

Livability — Providence

• Score: 84/100
• State rank: #2
• US rank: #794

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime C+ Employment C- Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Providence, RI
• County: Providence County · 548,917 people
• City population: 212,734
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 26,380
• Household income: $103,050
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 1567.0

Population outlook (Providence County) Hauer SSP2

• Today (2025): 653,469 people
• By 2030: 660,819 · +1.1%
• By 2040: 672,747 · +3.0%
• By 2050: 683,741 · +4.6%
• By 2075: 720,435 · +10.2%
• By 2100: 741,582 · +13.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Asian 11% Hispanic / Latino 8% Two or more races 8% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 80% English-only · Other Indo-European 6% Spanish 5% Chinese 3%

Political lean MEDSL · Providence

• 2024 margin: D (+14.4) · D 56.1% · R 41.7% · Other 2.2%
• 2008→2024 swing: -20.0pp toward R · 2008: 34.4pp · 2024: 14.4pp
• All cycles: 2024: D+14.4 2020: D+22.9 2016: D+21.2 2012: D+34.9 2008: D+34.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -792.46%
• Current HPI: 355.3795
• Rent YoY: ▲ 7.46%
• Metro: Providence-Warwick, RI-MA
• State GDP YoY: ▲ 2.25%
• F500 in state: 10

Industry mix (Fortune 500 HQ in RI)

Industry	F500 HQs	Revenue
▸Healthcare	1	$373B
▸Food Distribution	1	$31B
▸Aerospace / Defense	1	$14B
▸Financial Services	1	$8B
▸Consumer Goods	1	$4B

Price history

+282.4% since first listed

14 events — show timeline

• 2026-05-24 Listed $650,000 RIS
• 2026-05-07 Listing Removed — RIS
• 2026-04-07 Listed $825,000 RIS
• 2026-02-06 Listing Removed — RIS
• 2026-01-16 Price Changed $645,000 RIS
• 2026-01-05 Listed $649,900 RIS
• 2026-01-04 Listing Removed — RIS
• 2025-12-17 Listed $650,000 RIS
• 2025-10-07 Sold (Public Records) $305,000 Public Records
• 2013-12-19 Price Changed $160,000 RIS
• 2010-04-01 Listing Removed — RIS
• 2009-12-24 Listed $163,000 RIS
• 2009-01-25 Listing Removed — RIS
• 2008-07-26 Listed $170,000 RIS

Property tax history

-1.5%/yr

Latest (2025): $4,363 · -44.1% YoY. Source: county tax records.