211 Admiral St · Providence, RI 02908

$379,000

5 bd · 2.0 ba · 1,477 sqft · SingleFamily public records · 29 Days on market

Built 1930 4,000 sqft lot $257/sqft · 14% below area Est $441k · 14% 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 +18.7/30.0
• ARV discount +13.8/15.0
• DSCR +5.9/10.0
• 1% rule +4.2/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home! This charming 5-bedroom, 2-bathroom Dutch Colonial sits in a highly convenient central location, just minutes from downtown Providence, colleges, entertainment districts, dining, shopping, and more. Boasting 5 bedrooms, 2 full bathrooms, a generous layout, fenced yard, and parking, this home provides ample space. While some TLC and your own personal touches will build instant sweat equity, some of the heavy lifting has already been done. A younger roof for peace of mind and lower maintenance, an updated heating system ensuring reliable comfort and efficiency, and solar panels that will be fully paid off by seller at closing. Owner occupants take advantage of the city of Provid

Key facts

• Fenced yard
• Central location
• Younger roof

Tags

• CENTRAL LOCATION
• FENCED YARD
• YOUNGER ROOF
• UPDATED HEATING SYSTEM
• SOLAR PANELS

Property features AI

Exterior

• Parking: No garage; 4 parking spaces (total)
• Utilities: Public water; Public sewer; 100 amp electrical service
• Home design: 2-story property; Entry level includes first floor and second floor
• Construction: Vinyl siding; Drywall and plaster interior walls; Combination foundation; Built with conventional construction methods
• Exterior features: Public transportation nearby; Highway access; Near hospital; Near schools; Nearby recreation area; Nearby restaurants

Interior

• Kitchen: Eat-in kitchen; Oven; Range; Refrigerator
• Bedrooms: Bedroom 1 (First level); Bedroom 2 (Second level); Bedroom 3 (Second level); Bedroom 4 (Second level); Bedroom 5 (Second level)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; Bathroom on first level; Bathroom on second level
• Heating & cooling: Gas baseboard heating
• Interior features: Attic; Tub with shower
• Laundry & utility: Washer; Dryer; Gas water heater; Utility room; Laundry room; Storage room

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $379k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $348k (8.2% below list).
• Recommended offer: $348k (8.2% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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 (+5.5%/yr); 161 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,480/mo this rent would consume 57% of the median local household income ($73k/yr) (locally 1561% 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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y 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 $145k; list at $379k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $347,963 (8.2% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 9.1

CMA / ARV

• ARV (median comp): $440,745
• List price: $379,000
• Delta: -11.51%
• Verdict: UNDERPRICED
• Comps: 18 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-28,727
• Equity at exit: $56,510

10-year hold

• IRR: 5.1%
• Equity multiple: 1.41×
• Total profit: $43,519
• Equity at exit: $32,769

Cash invested: $106,120 (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 02908

• Home prices YoY: -27.1%
• Rents YoY: 5.5%
• Active inventory: 161
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,480 medium
• Mortgage (P&I): −$1,988
• Tax from tax record: −$227 /mo · $2,727/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$731
• Net cashflow: $376

Break-even live

Break-even rent $3,003

Max offer price $379,000

Occupancy floor 84%

Sensitivity live

Price	-10% $591	-5% $483	+0% $376	+5% $269	+10% $162
Rent	-10% $101	-5% $239	+0% $376	+5% $514	+10% $651
Rate	-1.0pp $567	-0.5pp $473	base $376	+0.5pp $278	+1.0pp $178

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38 Tyndall Ave Providence, RI	4.0	2.0	1500	$3,500	$2.33	20d	1	0.65mi
191 Russo St Unit 1 Providence, RI	4.0	2.0	1500	$3,000	$2.00	2d	1	0.87mi
130 Smart St Providence, RI	4.0	2.0	1743	$3,500	$2.01	2d	1	1.03mi

Listing history 39 events

1. 2026-06-17
   status $379,000 Pending 29 DOM
2. 2026-06-17
   days on market $379,000 Active Under Contract 29 DOM
3. 2026-06-16
   days on market $379,000 Active Under Contract 28 DOM
4. 2026-06-15
   days on market $379,000 Active Under Contract 27 DOM
5. 2026-06-13
   days on market $379,000 Active Under Contract 25 DOM
6. 2026-06-09
   days on market $379,000 Active Under Contract 21 DOM
7. 2026-06-08
   days on market $379,000 Active Under Contract 20 DOM
8. 2026-06-07
   days on market $379,000 Active Under Contract 19 DOM
9. 2026-06-05
   days on market $379,000 Active Under Contract 16 DOM
10. 2026-06-03
    days on market $379,000 Active Under Contract 15 DOM
11. 2026-06-02
    days on market $379,000 Active Under Contract 14 DOM
12. 2026-06-01
    days on market $379,000 Active Under Contract 13 DOM
13. 2026-05-31
    days on market $379,000 Active Under Contract 12 DOM
14. 2026-05-04
    historical
15. 2026-05-04
    listed $390,000 Active 635-char remark
16. 2026-04-07
    listed $400,000 Active
17. 2019-09-20
    price $219,900
18. 2018-06-12
    status Pending
19. 2018-01-09
    soldstatus $144,900 Sold
20. 2018-01-09
    soldstatus $144,900
21. 2017-12-31
    historical
22. 2017-10-19
    historical Under Contract: Inspection Period
23. 2017-09-29
    listed $149,999 Active
24. 2013-12-19
    price $58,400
25. 2009-11-17
    soldstatus $57,400
26. 2009-09-30
    historical
27. 2009-05-12
    listed $64,900
28. 2007-07-30
    historical
29. 2007-01-30
    listed $249,900
30. 2006-07-12
    soldstatus $223,000
31. 2006-07-11
    soldstatus $223,000
32. 2006-05-15
    historical
33. 2006-02-28
    listed $229,000
34. 2005-08-17
    historical
35. 2005-06-02
    listed $229,900
36. 2004-07-14
    soldstatus $132,000
37. 2004-07-13
    soldstatus $132,000
38. 2004-06-02
    historical
39. 2004-04-19
    listed $119,000

ⓘ 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: $2,727 · $227/mo
• Projected year-2 tax: $4,452 · $371/mo
• Expected delta: +$1,725/yr (+$144/mo · 63.3%)

ⓘ 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 ≥97°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: $41,756
• − Mortgage interest: −$21,230
• − Property taxes: −$2,727
• − Insurance: −$1,895
• − Repairs & maintenance: −$3,340
• − Management: −$3,340
• − Depreciation: −$11,025
• Taxable loss: −$1,803
• Est. tax savings @ 24.0%: +$433
• After-tax cash flow: $4,947/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): 39,500
• Household income: $73,081
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1561.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 33% Two or more races 22% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 16%
• Common ancestry: Swiss 4% Hispanic 3% Russian 3%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 53% English-only · Spanish 36% French/Haitian/Cajun 4% Other Indo-European 2%

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: ▼ -151.12%
• Current HPI: 407.0502
• Rent YoY: ▲ 5.46%
• 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

+218.5% since first listed

30 events — show timeline

• 2026-06-17 Pending — RIS
• 2026-05-29 Contingent — RIS
• 2026-05-19 Listing Removed — RIS
• 2026-05-19 Listed $379,000 RIS
• 2026-05-04 Listing Removed — RIS
• 2026-05-04 Listed $390,000 RIS
• 2026-04-07 Listed $400,000 RIS
• 2019-09-20 Price Changed $219,900 RIS
• 2018-06-12 Pending — RIS
• 2018-01-09 Sold (Public Records) $144,900 Public Records
• 2018-01-09 Sold (MLS) $144,900 RIS
• 2017-12-31 Listing Removed — RIS
• 2017-10-19 Contingent — RIS
• 2017-09-29 Listed $149,999 RIS
• 2013-12-19 Price Changed $58,400 RIS
• 2009-11-17 Sold (MLS) $57,400 RIS
• 2009-09-30 Listing Removed — RIS
• 2009-05-12 Listed $64,900 RIS
• 2007-07-30 Listing Removed — RIS
• 2007-01-30 Listed $249,900 RIS
• 2006-07-12 Sold (MLS) $223,000 RIS
• 2006-07-11 Sold (Public Records) $223,000 Public Records
• 2006-05-15 Listing Removed — RIS
• 2006-02-28 Listed $229,000 RIS
• 2005-08-17 Listing Removed — RIS
• 2005-06-02 Listed $229,900 RIS
• 2004-07-14 Sold (Public Records) $132,000 Public Records
• 2004-07-13 Sold (MLS) $132,000 RIS
• 2004-06-02 Listing Removed — RIS
• 2004-04-19 Listed $119,000 RIS

Property tax history

-4.3%/yr

Latest (2025): $2,727 · -32.0% YoY. Source: county tax records.