61 Everson Dr · Chepachet, RI 02814

$159,900

3 bd · 1.0 ba · 960 sqft · Manufactured public records · 65 Days on market

Built 1977 $535/mo HOA · 21% of rent

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Why this score? — see what drove the A- 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 +29.4/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Best location in the Park! Cozy 3 bed double wide mobile home is located on corner lot overlooking pond. Includes eat-in kitchen with pond view, large livingroom with wood burning stove, laundry area, storage shed, . Affordable country living.

Key facts

• Fully renovated
• New plumbing
• New siding

Tags

• FULLY RENOVATED
• NEW ROOF
• NEW SIDING
• NEW ELECTRICAL
• NEW PLUMBING
• MINI-SPLIT HEATING AND COOLING

Property features AI

Finance

• HOA & community: Monthly association fee of $535; Property has a land lease

Exterior

• Parking: No garage; 2 off-street parking spaces
• Utilities: Circuit breaker electric service; Well water; Septic sewer
• Home design: Single-story home
• Construction: Vinyl siding

Interior

• Kitchen: Electric water heater
• Bedrooms: Total rooms: 6
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Oil heating
• Interior features: Laminate flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.1% in Chepachet — 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 75/100 on livability (#9 in RI, #4,347 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Glocester (rural): math 46% / reading 66% proficiency, ranked #4 of 39 in RI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Fogarty Memorial (math 47% / reading 67%, grade C+, #19 of 167 statewide, top 12%, 336 students, 9% FRL); Ponaganset Middle School (math 27% / reading 42%, grade F, #17 of 57 statewide, top 30%, 426 students, 17% FRL); Ponaganset High School (math 31% / reading 62%, grade D-, #15 of 58 statewide, top 26%, 921 students, 14% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 40 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $160k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.62% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.15%
• DSCR: 1.67
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 3.76×
• Total profit: $123,349
• Equity at exit: $144,051

10-year hold

• IRR: 30.6%
• Equity multiple: 8.49×
• Total profit: $335,478
• Equity at exit: $310,651

Cash invested: $44,772 (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 02814

• Home prices YoY: 3.0%
• Active inventory: 40
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,593 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$43 /mo · $519/yr
• Insurance: −$67
• HOA: −$535
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $565

Break-even live

Break-even rent $1,878

Max offer price $159,900

Occupancy floor 73%

Sensitivity live

Price	-10% $656	-5% $610	+0% $565	+5% $520	+10% $475
Rent	-10% $360	-5% $463	+0% $565	+5% $668	+10% $770
Rate	-1.0pp $646	-0.5pp $606	base $565	+0.5pp $524	+1.0pp $482

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $535 · $6,420/yr

Listing history 20 events

1. 2026-06-21
   days on market $159,900 Active 65 DOM
2. 2026-06-18
   days on market $159,900 Active 62 DOM
3. 2026-06-17
   days on market $159,900 Active 61 DOM
4. 2026-06-16
   days on market $159,900 Active 60 DOM
5. 2026-06-15
   days on market $159,900 Active 59 DOM
6. 2026-06-13
   days on market $159,900 Active 57 DOM
7. 2026-06-13
   statusdays on market $159,900 Active 56 DOM
8. 2026-05-11
   status Pending
9. 2026-05-07
   price $159,900
10. 2026-04-24
    price $160,000
11. 2026-04-07
    price $172,500
12. 2026-03-17
    listed $175,000 Active
13. 2025-09-16
    soldstatus $50,000
14. 2013-12-19
    price $24,500 243-char remark

    Show marketing remark (243 chars)

    Best location in the Park! Cozy 3 bed double wide mobile home is located on corner lot overlooking pond. Includes eat-in kitchen with pond view, large livingroom with wood burning stove, laundry area, storage shed, . Affordable country living.

15. 2013-01-31
    soldstatus $15,500 110-char remark

    Show marketing remark (110 chars)

    NICE 3 BED MOBILE HOME ON CORNER LOT OVERLOOKING A POND. WOODSTOVE, SHED AND LAUNDRY AREA. QUIET NEIGHBORHOOD.

16. 2013-01-10
    historical 110-char remark

    Show marketing remark (110 chars)

    NICE 3 BED MOBILE HOME ON CORNER LOT OVERLOOKING A POND. WOODSTOVE, SHED AND LAUNDRY AREA. QUIET NEIGHBORHOOD.

17. 2012-09-10
    listed $24,500 110-char remark

    Show marketing remark (110 chars)

    NICE 3 BED MOBILE HOME ON CORNER LOT OVERLOOKING A POND. WOODSTOVE, SHED AND LAUNDRY AREA. QUIET NEIGHBORHOOD.

18. 2011-11-18
    soldstatus $24,500 243-char remark

    Show marketing remark (243 chars)

    Best location in the Park! Cozy 3 bed double wide mobile home is located on corner lot overlooking pond. Includes eat-in kitchen with pond view, large livingroom with wood burning stove, laundry area, storage shed, . Affordable country living.

19. 2011-10-20
    historical 243-char remark

    Show marketing remark (243 chars)

    Best location in the Park! Cozy 3 bed double wide mobile home is located on corner lot overlooking pond. Includes eat-in kitchen with pond view, large livingroom with wood burning stove, laundry area, storage shed, . Affordable country living.

20. 2011-02-13
    listed $49,500 243-char remark

    Show marketing remark (243 chars)

    Best location in the Park! Cozy 3 bed double wide mobile home is located on corner lot overlooking pond. Includes eat-in kitchen with pond view, large livingroom with wood burning stove, laundry area, storage shed, . Affordable country living.

ⓘ 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: $519 · $43/mo
• Projected year-2 tax: $1,563 · $130/mo
• Expected delta: +$1,044/yr (+$87/mo · 201.1%)

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

Climate risk First Street

• 🌡 Heat 4/10 Moderate
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,116
• − Mortgage interest: −$8,957
• − Property taxes: −$519
• − Insurance: −$800
• − Repairs & maintenance: −$2,489
• − Management: −$2,489
• − HOA: −$6,420
• − Depreciation: −$4,652
• Taxable income: $4,791
• Est. tax owed @ 24.0%: −$1,150
• After-tax cash flow: $5,631/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: Glocester
• NCES district ID: 4400450
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $81,483
• Composite: 50.69/100
• National rank: #1822
• State rank: #4 of 39 in RI

Livability — Chepachet

• Score: 75/100
• State rank: #9
• US rank: #4347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chepachet, RI
• Population (ZIP): 7,421

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 13% Romanian 5% Russian 5%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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: ▲ 11.23%
• Current HPI: 383.6236
• 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

+223.0% since first listed

13 events — show timeline

• 2026-05-11 Pending — RIS
• 2026-05-07 Price Changed $159,900 RIS
• 2026-04-24 Price Changed $160,000 RIS
• 2026-04-07 Price Changed $172,500 RIS
• 2026-03-17 Listed $175,000 RIS
• 2025-09-16 Sold (Public Records) $50,000 Public Records
• 2013-12-19 Price Changed $24,500 RIS
• 2013-01-31 Sold (MLS) $15,500 RIS
• 2013-01-10 Listing Removed — RIS
• 2012-09-10 Listed $24,500 RIS
• 2011-11-18 Sold (MLS) $24,500 RIS
• 2011-10-20 Listing Removed — RIS
• 2011-02-13 Listed $49,500 RIS

Property tax history

-0.9%/yr

Latest (2025): $519 · +2.8% YoY. Source: county tax records.