50 Vernon St · Pawtucket, RI 02860

$789,900

6 bd · 5.0 ba · 3,553 sqft · MultiFamily public records · 10 Days on market

Built 1900 0.33 ac lot Est $618k · 28% over

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

TIMING IS ON YOUR SIDE, IF YOU ACT NOW! DON'T DELAY IN SEEING OPPORTUNITY IN THIS STRATEGICALLY LOCATED LEGAL 4 UNIT. LOTS OF PARKING SPACE. IDEALLY LOCATED NEAR HIGHWAY. PERFECT FOR AN OFFICE, LIVE IN, OR INVESTMENT.

Key facts

• Custom cabinetry
• Updated bathrooms
• Stunning kitchen

Tags

• QUALITY HILL HISTORIC DISTRICT
• STUNNING KITCHEN
• CUSTOM CABINETRY
• SMART LG REFRIGERATOR
• STEEL WOOD-BURNING STOVE
• UPDATED BATHROOMS

Property features AI

Finance

• Other: Total building area approximately 3,553; Listing status: Active; Address: 50 Vernon St, Pawtucket, RI 02860
• HOA & community: Not a senior community

Exterior

• Parking: Off-street parking with 10 open spaces
• Utilities: Public water; Public sewer; Gas available for range; Electric: 110 volts, 100 Amp service and 200+ Amp service
• Home design: 4-family property; 2 stories; Approximate year built (public records)
• Construction: Frame construction; Concrete perimeter foundation; Slate roof; Lead paint: certified treated or none reported
• Exterior features: Fenced lot; Professional landscaping; Corner lot; Public road frontage; Shed(s) on property

Interior

• Bedrooms: Unit 1: 1 level; Unit 2: 1 level, 2 floors
• Flooring: Marble; Hardwood; Parquet
• Bathrooms: Five full bathrooms
• Heating & cooling: Two heat zones
• Interior features: Total of 19 rooms; Full basement; One fireplace; Marble, hardwood and parquet flooring

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/5.0-bath units multifamily listed at $790k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $689/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $790k).
• Cap rate 10.5% vs local median 3.8% in Pawtucket — 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 71/100 on livability (#16 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, schools D, amenities F.
• Pawtucket (suburban): math 7% / reading 19% proficiency, ranked #33 of 39 in RI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 123 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $9,862/mo this rent would consume 192% of the median local household income ($62k/yr) (locally 2528% 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 $5k of loan paydown is wiped out by about $24k 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 + 3.5% rent growth), your $221k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 $240k; list at $790k implies a 229% 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 $789,900

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 D-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: 1.25% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.96%
• DSCR: 1.67
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $618,222
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Young St	0.29mi	6/3.0	3,446 (-3%)	1mo	$675,000	$196	72
100 Pond St	0.28mi	6/3.0	3,396 (-4%)	1mo	$584,000	$172	71
110 Brewster St	0.35mi	6/3.0	3,565 (+0%)	9mo	$725,000	$203	68
21 Brewster St	0.19mi	6/3.0	3,790 (+7%)	11mo	$611,600	$161	63
15 Hazard St	0.61mi	6/3.0	3,573 (+1%)	6mo	$620,000	$174	58
23-25 Young St	0.28mi	6/3.0	3,108 (-12%)	9mo	$655,000	$211	50
412 East Ave	0.63mi	6/3.0	3,484 (-2%)	11mo	$601,500	$173	50
380 School St	0.53mi	6/3.0	3,864 (+9%)	8mo	$610,000	$158	46
35 Laurel St	0.73mi	6/3.0	3,312 (-7%)	2mo	$624,000	$188	45
14 16 Greene St	0.63mi	7/3.0 (+1)	3,343 (-6%)	11mo	$700,000	$209	39
44 Pine St	0.63mi	6/3.0	4,023 (+13%)	11mo	$587,000	$146	32
218 Rhode Island Ave	0.60mi	7/2.0 (+1)	4,026 (+13%)	12mo	$500,000	$124	22

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

Projected returns pro-forma

-3.0% appreciation · 3.47% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $52,141
• Equity at exit: $117,777

10-year hold

• IRR: 15.8%
• Equity multiple: 2.31×
• Total profit: $290,427
• Equity at exit: $68,296

Cash invested: $221,172 (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 02860

• Rents YoY: 3.5%
• Active inventory: 123
• Price-to-rent: 26.7×

Monthly cashflow live

• Estimated rent: $9,862 medium
• Mortgage (P&I): −$4,142
• Tax from tax record: −$563 /mo · $6,756/yr
• Insurance: −$329
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,071
• Net cashflow: $2,757

Break-even live

Break-even rent $6,373

Max offer price $789,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	5	$9,864
Total (4 units)			$9,862

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: $197,475
• Closing costs: $23,697
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $789,900 Active 10 DOM
2. 2026-06-17
   days on market $789,900 Active 9 DOM
3. 2026-06-16
   days on market $789,900 Active 8 DOM
4. 2026-06-15
   days on market $789,900 Active 7 DOM
5. 2026-06-13
   days on market $789,900 Active 5 DOM
6. 2026-06-13
   statusdays on market $789,900 Active 4 DOM
7. 2026-06-08
   remarks 679-char remark
8. 2026-06-08
   listed $789,900 New 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: $6,756 · $563/mo
• Projected year-2 tax: $9,816 · $818/mo
• Expected delta: +$3,060/yr (+$255/mo · 45.3%)

ⓘ 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 ≥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: $118,344
• − Mortgage interest: −$44,247
• − Property taxes: −$6,756
• − Insurance: −$3,950
• − Repairs & maintenance: −$9,468
• − Management: −$9,468
• − Depreciation: −$22,979
• Taxable income: $21,478
• Est. tax owed @ 24.0%: −$5,155
• After-tax cash flow: $27,924/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: Pawtucket
• NCES district ID: 4400840
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $41,838
• Composite: 11.29/100
• National rank: #9718
• State rank: #33 of 39 in RI

Livability — Pawtucket

• Score: 71/100
• State rank: #16
• US rank: #7037

Category grades

Amenities F Commute F 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: Pawtucket, RI
• County: Providence County · 548,917 people
• City population: 75,942
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 47,818
• Household income: $61,539
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 2528.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 29% Two or more races 22% Black 14% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 6%
• Common ancestry: Russian 9% Lithuanian 4% Romanian 2%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 22% Other Indo-European 9% French/Haitian/Cajun 9%

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: ▼ -215.00%
• Current HPI: 355.0152
• Rent YoY: ▲ 3.47%
• 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

+243.6% since first listed

6 events — show timeline

• 2026-06-08 Listed $789,900 RIS
• 2026-06-08 Listed $789,900 MLS PIN
• 2002-08-19 Sold (Public Records) $240,000 Public Records
• 2002-08-19 Sold (MLS) $240,000 RIS
• 2002-05-11 Listing Removed — RIS
• 2002-05-06 Listed $229,900 RIS

Property tax history

+5.1%/yr

Latest (2025): $6,756 · +6.6% YoY. Source: county tax records.