72 Sylvian St · Central Falls, RI 02863

$500,000

4 bd · 2.0 ba · 1,840 sqft · MultiFamily public records · 10 Days on market

Built 1900 3,049 sqft lot Est $489k · at est.

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Why this score? — see what drove the D- 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 +9.1/30.0
• Appreciation +7.3/10.0
• ARV discount +6.5/15.0
• Livability +3.3/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +0.4/10.0

Multi-family units

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

Listing remarks MLS

WHAT A STEAL!!! GREAT OPPORTUNITY FOR INVESTOR/OWNER OCCUPANT! NEEDS SOME TLC BUT WELL WORTH THE EFFORT! NEWER ROOF, NEWER HEATING SYSTEM, GAS HEAT, UPDATED ELECTRIC, CIRCUIT BREAKERS, SEPARATE UTILITIES, VINYL SIDED, REPLACEMENT WINDOWS, & MORE!!

Key facts

• 2-family home
• Off-street parking
• Conveniently located

Tags

• 2-FAMILY HOME
• SPACIOUS LIVING AREAS
• STRONG RENTAL POTENTIAL
• OFF-STREET PARKING
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Operating expenses: $1,200
• HOA & community: Highway access; Public transportation nearby; Nearby restaurants; Nearby shopping

Exterior

• Parking: No garage; 6 total parking spaces
• Utilities: Public water connection; Sewer connected to public system; Electric service: 100 amps
• Home design: 2-unit building; Single building on property
• Construction: Drywall and vinyl siding; Concrete perimeter foundation; Built area above grade: 2,840
• Exterior features: Public sewer connection

Interior

• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Gas heating; Space heater
• Interior features: Bathtub and tub/shower combination; Ceramic tile and hardwood flooring; Gas water heater
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $-383 ($-5k/yr) — negative. Per door: $-192/mo.
• To cash-flow at today's rent, offer at most $432k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $357k (28.5% below list).
• Recommended offer: $357k (28.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#21 in RI) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing B; Watch: amenities F, commute F, employment F.
• Central Falls (suburban): math 2% / reading 8% proficiency, ranked #38 of 39 in RI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ella Risk School (math 2% / reading 12%, grade F, #158 of 167 statewide, top 97%, 430 students, 94% FRL); Calcutt Middle School (math 0% / reading 6%, grade F, #56 of 57 statewide, top 98%, 511 students, 97% FRL); Central Falls Sr High (math 2% / reading 12%, grade F, #53 of 58 statewide, top 96%, 811 students, 97% FRL) — zoned schools average 96% FRL vs 78% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,574/mo this rent would consume 87% of the median local household income ($49k/yr) (locally 1380% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($3k loan paydown + $23k appreciation (4.6% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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 $65k; list at $500k implies a 669% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $357,400 (28.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $489,440
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
34 Lewis St	0.33mi	4/2.0	1,800 (-2%)	10mo	$465,000	$258	72
10 Foundry St	0.28mi	4/2.0	1,740 (-5%)	9mo	$460,000	$264	70
41 Hedley Ave	0.22mi	4/2.0	1,657 (-10%)	14mo	$515,000	$311	61
264 Cowden St	0.30mi	4/2.0	1,632 (-11%)	15mo	$465,000	$285	55
36 Tiffany St	0.65mi	5/2.0 (+1)	1,920 (+4%)	6mo	$510,000	$266	52
603 605 Pine St	0.58mi	5/2.0 (+1)	1,662 (-10%)	10mo	$465,000	$280	44
189 East St	0.73mi	5/2.0 (+1)	1,680 (-9%)	18mo	$430,000	$256	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.56×
• Total profit: $78,667
• Equity at exit: $270,518

10-year hold

• IRR: 10.8%
• Equity multiple: 2.89×
• Total profit: $264,819
• Equity at exit: $456,602

Cash invested: $140,000 (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 02863

• Home prices YoY: 1.2%
• Active inventory: 32
• Price-to-rent: 23.3×

Monthly cashflow live

• Estimated rent: $3,574 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$376 /mo · $4,518/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$751
• Net cashflow: $-383

Break-even live

Break-even rent $4,059

Max offer price $432,266

Occupancy floor —

Sensitivity live

Price	-10% $-100	-5% $-242	+0% $-383	+5% $-525	+10% $-666
Rent	-10% $-666	-5% $-525	+0% $-383	+5% $-242	+10% $-101
Rate	-1.0pp $-132	-0.5pp $-256	base $-383	+0.5pp $-513	+1.0pp $-645

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,574
Total (2 units)			$3,574

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Shawmut Ave Unit 98 Central Falls, RI	4.0	1.5	1398	$2,700	$1.93	21d	1	0.35mi
14 Courtland St Unit 2 Central Falls, RI	3.0	1.0	1240	$1,850	$1.49	12d	1	0.51mi
14 Courtland St Unit 3 Central Falls, RI	4.0	1.0	1240	$1,950	$1.57	12d	1	0.51mi
14 Carpenter St Unit 1 Cumberland, RI	4.0	1.0	1467	$2,850	$1.94	3d	1	0.69mi
171 N Bend St Unit 1 Pawtucket, RI	3.0	2.0	1352	$2,450	$1.81	0d	1	1.11mi
513 Mendon Rd Unit 1 Attleboro, MA	3.0	2.5	1780	$3,979	$2.24	16d	1	1.25mi
515 Mendon Rd Unit 2 Attleboro, MA	3.0	2.5	1780	$3,950	$2.22	46d	1	1.25mi
171 Mendon Rd Attleboro, MA	3.0	1.5	1585	$3,500	$2.21	16d	1	1.32mi
171 Mendon Rd Attleboro, MA	3.0	1.5	1585	$3,500	$2.21	5d	1	1.32mi
413 Central Ave Pawtucket, RI	1.0–3.0	1.0–2.0	1285	$2,920	$2.27	0d	9	1.34mi

Listing history 8 events

1. 2026-06-21
   days on market $500,000 Active 10 DOM
2. 2026-06-18
   days on market $500,000 Active 7 DOM
3. 2026-06-17
   days on market $500,000 Active 6 DOM
4. 2026-06-16
   days on market $500,000 Active 5 DOM
5. 2026-06-15
   days on market $500,000 Active 4 DOM
6. 2026-06-13
   days on market $500,000 Active 2 DOM
7. 2026-06-13
   remarks 464-char remark
8. 2026-06-13
   listed $500,000 Active 1 DOM

ⓘ 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: $4,518 · $376/mo
• Projected year-2 tax: $6,334 · $528/mo
• Expected delta: +$1,816/yr (+$151/mo · 40.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,888
• − Mortgage interest: −$28,008
• − Property taxes: −$4,518
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,431
• − Management: −$3,431
• − Depreciation: −$14,545
• Taxable loss: −$13,545
• Est. tax savings @ 24.0%: +$3,251
• After-tax cash flow: $-1,350/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: Central Falls
• NCES district ID: 4400120
• Math proficiency: 2% ▼ -6.00%
• Reading proficiency: 8% ▼ -5.00%
• Median HH income: $30,478
• Composite: 3.59/100
• National rank: #10071
• State rank: #38 of 39 in RI

Livability — Central Falls

• Score: 66/100
• State rank: #21
• US rank: #11321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central Falls, RI
• County: Providence County · 548,917 people
• City population: 22,701
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 22,701
• Household income: $49,285
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 1380.0

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 Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 29% White 16% Black 8%
• Hispanic origin (detail): Mexican 6% Puerto Rican 15% Dominican 7%
• Common ancestry: Lithuanian 4% Russian 4% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 29% English-only · Spanish 62% Other Indo-European 5% French/Haitian/Cajun 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: ▲ 4.58%
• Current HPI: 373.2598
• Rent YoY: —
• 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

+506.1% since first listed

7 events — show timeline

• 2026-06-11 Listed $500,000 RIS
• 2015-05-22 Sold (MLS) $65,000 RIS
• 2015-04-20 Listed $79,900 RIS
• 2015-04-20 Listing Removed — RIS
• 2015-04-16 Listing Removed — RIS
• 2015-02-08 Price Changed $79,900 RIS
• 2014-10-16 Listed $82,500 RIS

Property tax history

+5.5%/yr

Latest (2025): $4,518 · +5.6% YoY. Source: county tax records.