8 Jacob Perry Dr · Charlestown, RI 02813

$75,000

2 bd · 1.0 ba · 550 sqft · Manufactured public records · 38 Days on market

Built 1962 $700/mo HOA · 43% of rent

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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 +22.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LOCATION, LOCATION, LOCATION! This highly desired, resident owned Mobile Park is the 12th resident owned manufactured home community in the state of RI. Just 10 minutes from Charlestown beaches, easy access to Ninigret Park, shopping, dining and many other amenities. It is a Fantastic opportunity for year-long or seasonal living! * * This sale is to purchase the rights to the site. The current mobile home on site is not livable and must be removed by buyer. * * In January 2025, the residents of Border Hill Mobile Home Park purchased the community, including the land underneath their homes. They have a very strong home-owners association which allows all the residents to run a c

Key facts

• 3 parking spots
• Built 1962
• Listed 38 days

Property features AI

Finance

• Other: Assessed value listed; Annual tax amount listed
• Financial info: Has land lease
• HOA & community: Monthly association fee of $700; Senior community

Exterior

• Parking: No garage; 3 parking spaces (total)
• Utilities: Septic tank; Connected water
• Home design: Single-story; 550 above-grade finished area
• Construction: Slab foundation
• Exterior features: Septic tank; Connected water

Interior

• Kitchen: Electric water heater
• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Oil heating; Has heating
• Interior features: Fixer condition
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 1.7% in Charlestown — 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 67/100 on livability (#20 in RI) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A, schools A-; Watch: amenities F, commute F, cost of living F.
• Chariho (rural): math 31% / reading 49% proficiency, ranked #15 of 39 in RI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 64 active listings in the ZIP; 311 units permitted in Washington County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 2.15% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-3,391
• Equity at exit: $11,183

10-year hold

• IRR: 5.9%
• Equity multiple: 1.45×
• Total profit: $9,459
• Equity at exit: $6,485

Cash invested: $21,000 (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 02813

• Home prices YoY: -5.5%
• Active inventory: 64
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,610 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$16 /mo · $194/yr
• Insurance: −$31
• HOA: −$700
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $131

Break-even live

Break-even rent $1,444

Max offer price $75,000

Occupancy floor 87%

Sensitivity live

Price	-10% $174	-5% $152	+0% $131	+5% $110	+10% $89
Rent	-10% $4	-5% $68	+0% $131	+5% $195	+10% $258
Rate	-1.0pp $169	-0.5pp $150	base $131	+0.5pp $112	+1.0pp $92

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $700 · $8,400/yr

Listing history 14 events

1. 2026-06-18
   days on market $75,000 Active 38 DOM
2. 2026-06-17
   days on market $75,000 Active 37 DOM
3. 2026-06-16
   days on market $75,000 Active 36 DOM
4. 2026-06-15
   days on market $75,000 Active 35 DOM
5. 2026-06-13
   days on market $75,000 Active 33 DOM
6. 2026-06-09
   days on market $75,000 Active 29 DOM
7. 2026-06-08
   days on market $75,000 Active 28 DOM
8. 2026-06-07
   days on market $75,000 Active 27 DOM
9. 2026-06-03
   days on market $75,000 Active 23 DOM
10. 2026-06-02
    days on market $75,000 Active 22 DOM
11. 2026-06-01
    days on market $75,000 Active 21 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-05-31
    days on market $75,000 Active 20 DOM
14. 2026-05-11
    listed $75,000 Active

ⓘ 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: $194 · $16/mo
• Projected year-2 tax: $708 · $59/mo
• Expected delta: +$514/yr (+$43/mo · 265.1%)

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

Taxation est. · year 1

• Rental income: $19,320
• − Mortgage interest: −$4,201
• − Property taxes: −$194
• − Insurance: −$375
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − HOA: −$8,400
• − Depreciation: −$2,182
• Taxable income: $877
• Est. tax owed @ 24.0%: −$210
• After-tax cash flow: $1,364/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: Chariho
• NCES district ID: 4400150
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 49% ▼ -11.00%
• Median HH income: $76,593
• Composite: 36.97/100
• National rank: #4529
• State rank: #15 of 39 in RI

Livability — Charlestown

• Score: 67/100
• State rank: #20
• US rank: #9948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,017

Population outlook (Washington County) Hauer SSP2

• Today (2025): 123,856 people
• By 2030: 121,962 · -1.5%
• By 2040: 115,902 · -6.4%
• By 2050: 107,078 · -13.5%
• By 2075: 92,575 · -25.3%
• By 2100: 77,407 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 9% Romanian 4% Russian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Washington

• 2024 margin: D (+15.0) · D 56.4% · R 41.4% · Other 2.3%
• 2008→2024 swing: -24.3pp toward R · 2008: 39.3pp · 2024: 15.0pp
• All cycles: 2024: D+15.0 2020: D+19.4 2016: D+10.0 2012: D+16.8 2008: D+39.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.65%
• Current HPI: 427.1028
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-11 Listed $75,000 RIS

Property tax history

+2.6%/yr

Latest (2025): $194 · +2.6% YoY. Source: county tax records.