3 Quail St · Cumberland, RI 02864

$300,000

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 232 Days on market

Built 1982 4,792 sqft lot $329/sqft · 32% below area Est $440k · 32% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Schools +4.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +2.1/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity in the lovely town of Cumberland, 3-Bedroom ranch cottage with a parking space and rear yard. Great residential area, near highways and town amenities. Occupied, do not approach property.

Key facts

• Rear yard
• Residential area
• Ranch cottage

Tags

• RANCH COTTAGE
• PARKING SPACE
• REAR YARD
• RESIDENTIAL AREA
• NEAR HIGHWAYS
• TOWN AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-295 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (29.0% below list).
• Recommended offer: $213k (29.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Cumberland (suburban): math 40% / reading 52% proficiency, ranked #9 of 39 in RI (top 23%) — 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: Rents soft (-1.5%/yr); 141 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 232 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $210k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,988 (29.0% 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. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.71% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.21%
• DSCR: 0.81
• GRM: 11.7

CMA / ARV

• ARV (median comp): $439,521
• List price: $300,000
• Delta: -31.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Quail St	0.06mi	2/1.0 (-1)	960 (+5%)	10mo	$360,000	$375	75
33 Grand Ave	0.26mi	2/1.0 (-1)	864 (-5%)	22mo	$240,000	$278	56
23 Legion Ave	0.69mi	2/1.0 (-1)	912 (0%)	12mo	$380,000	$417	53

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.6%
• Equity multiple: 0.12×
• Total profit: $-73,641
• Equity at exit: $44,731

10-year hold

• IRR: -37.6%
• Equity multiple: -0.34×
• Total profit: $-112,513
• Equity at exit: $25,939

Cash invested: $84,000 (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 02864

• Rents YoY: -1.5%
• Active inventory: 141
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,130 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$279 /mo · $3,347/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $-295

Break-even live

Break-even rent $2,503

Max offer price $247,968

Occupancy floor —

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Bouvier Ave Manville, RI	1.0–2.0	1.0	694	$1,975	$2.84	1d	1	0.78mi
200 Manville Hill Rd #108 Cumberland, RI	2.0	1.0	918	$1,800	$1.96	23d	1	0.81mi
3400 Mendon Rd Unit 2 Cumberland, RI	2.0	1.0	700	$1,700	$2.43	2d	1	0.83mi
114 Summer St Unit 1 Manville, RI	2.0	1.0	992	$1,700	$1.71	43d	1	1.01mi
375 Old River Rd Unit 1 Manville, RI	3.0	1.0	852	$1,900	$2.23	23d	1	1.06mi
1037 Cass Ave Woonsocket, RI	2.0	1.0	860	$1,975	$2.30	1d	1	1.47mi

Listing history 26 events

1. 2026-06-18
   days on market $300,000 Active 232 DOM
2. 2026-06-17
   days on market $300,000 Active 231 DOM
3. 2026-06-16
   days on market $300,000 Active 230 DOM
4. 2026-06-15
   days on market $300,000 Active 229 DOM
5. 2026-06-13
   days on market $300,000 Active 227 DOM
6. 2026-06-09
   days on market $300,000 Active 223 DOM
7. 2026-06-08
   days on market $300,000 Active 222 DOM
8. 2026-06-07
   days on market $300,000 Active 221 DOM
9. 2026-06-05
   days on market $300,000 Active 218 DOM
10. 2026-06-03
    days on market $300,000 Active 217 DOM
11. 2026-06-02
    days on market $300,000 Active 216 DOM
12. 2026-06-01
    days on market $300,000 Active 215 DOM
13. 2026-05-31
    days on market $300,000 Active 214 DOM
14. 2026-05-20
    price $300,000 199-char remark

    Show marketing remark (199 chars)

    Opportunity in the lovely town of Cumberland, 3-Bedroom ranch cottage with a parking space and rear yard. Great residential area, near highways and town amenities. Occupied, do not approach property.

15. 2025-10-29
    listed $320,000 Active 199-char remark

    Show marketing remark (199 chars)

    Opportunity in the lovely town of Cumberland, 3-Bedroom ranch cottage with a parking space and rear yard. Great residential area, near highways and town amenities. Occupied, do not approach property.

16. 2025-07-11
    historical
17. 2025-06-29
    status Active
18. 2025-06-29
    price $320,000
19. 2025-03-27
    status Pending
20. 2025-01-16
    price $300,000
21. 2024-11-21
    listed $370,000 Active
22. 2005-01-19
    soldstatus $210,000
23. 2000-12-18
    soldstatus $122,500
24. 2000-12-15
    soldstatus $122,500
25. 2000-11-05
    historical
26. 2000-10-23
    listed $126,000

ⓘ 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: $3,347 · $279/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$772/yr (+$64/mo · 23.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $25,559
• − Mortgage interest: −$16,805
• − Property taxes: −$3,347
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,045
• − Management: −$2,045
• − Depreciation: −$8,727
• Taxable loss: −$8,910
• Est. tax savings @ 24.0%: +$2,138
• After-tax cash flow: $-1,396/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: Cumberland
• NCES district ID: 4400270
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $75,407
• Composite: 41.85/100
• National rank: #3382
• State rank: #9 of 39 in RI

Livability — Cumberland

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Cumberland Hill, RI
• County: Providence County · 548,917 people
• City population: 36,820
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 36,820
• Household income: $117,522
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 771.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 5% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 11% Russian 10% Romanian 6%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 83% English-only · Other Indo-European 7% Spanish 4% French/Haitian/Cajun 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: ▼ -461.15%
• Current HPI: 313.0341
• Rent YoY: ▼ -1.48%
• 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

+138.1% since first listed

13 events — show timeline

• 2026-05-20 Price Changed $300,000 RIS
• 2025-10-29 Listed $320,000 RIS
• 2025-07-11 Listing Removed — RIS
• 2025-06-29 Relisted — RIS
• 2025-06-29 Price Changed $320,000 RIS
• 2025-03-27 Pending — RIS
• 2025-01-16 Price Changed $300,000 RIS
• 2024-11-21 Listed $370,000 RIS
• 2005-01-19 Sold (Public Records) $210,000 Public Records
• 2000-12-18 Sold (Public Records) $122,500 Public Records
• 2000-12-15 Sold (MLS) $122,500 RIS
• 2000-11-05 Listing Removed — RIS
• 2000-10-23 Listed $126,000 RIS

Property tax history

+2.2%/yr

Latest (2025): $3,347 · +2.7% YoY. Source: county tax records.