16 Green Ave · Westerly, RI 06379

$530,000

3 bd · 2.0 ba · 1,613 sqft · SingleFamily public records · 162 Days on market

Built 1976 0.26 ac lot ↓ 4% since listing

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Situated on a peaceful side street in the Greenhaven Road neighborhood, 16 Green Avenue offers a welcoming and well-crafted living space. This home features 3 bedrooms, 2 full baths, and a flexible second-floor bonus room, which can be tailored to your needs. The layout has a comfortable flow from kitchen to dining room, leading to a convenient slider that connects the living space to the back deck and backyard, perfect for casual gatherings or quiet reflection. With an oversized garage and basement, you'll have plenty of room for storage and organization. The location can't be beat, as it's only 10 minutes from downtown Westerly, 15 minutes to Downtown Mystic and 20 minutes to Watch Hill.

Key facts

• 0.26 acre lot
• Built 1976
• Listed 162 days

Property features AI

Exterior

• Utilities: Private well water; Septic sewer; Domestic hot water
• Home design: Single-family home
• Construction: Built with wood frame construction; Concrete foundation; Asphalt/fiberglass shingle roof
• Exterior features: Level lot; Shingle and wood siding

Interior

• Kitchen: Refrigerator; Freezer; Dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Oil heat
• Interior features: One fireplace; Full unfinished basement
• Laundry & utility: Washer; Dryer; Oil-fired hot water heating (fuel tank located in basement)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $530k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $530k).
• Recommended offer: $466k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 1.8% in Westerly — 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 74/100 on livability (#10 in RI, #4,529 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living D+, amenities F, commute F.
• Stonington School District (suburban): math 54% / reading 70% proficiency, ranked #43 of 153 in CT (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 1 comparable units currently listed for rent nearby; 487 units permitted in Southeastern Connecticut Planning Region in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $148k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($466k) is reasonable based on typical stale-listing flexibility.

Recommended offer $466,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.53%
• DSCR: 1.51
• GRM: 7.4

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $4,798
• Equity at exit: $79,025

10-year hold

• IRR: 10.5%
• Equity multiple: 1.81×
• Total profit: $120,600
• Equity at exit: $45,825

Cash invested: $148,400 (down + closing). Projections, not guarantees.

Monthly cashflow live

• Estimated rent: $6,000 medium
• Mortgage (P&I): −$2,779
• Tax from tax record: −$314 /mo · $3,769/yr
• Insurance: −$221
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $1,426

Break-even live

Break-even rent $4,195

Max offer price $530,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,726	-5% $1,576	+0% $1,426	+5% $1,276	+10% $1,126
Rent	-10% $952	-5% $1,189	+0% $1,426	+5% $1,663	+10% $1,900
Rate	-1.0pp $1,693	-0.5pp $1,561	base $1,426	+0.5pp $1,288	+1.0pp $1,149

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: $132,500
• Closing costs: $15,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Trumbull St Stonington, CT	3.0	2.5	1466	$6,000	$4.09	44d	1	1.23mi

Listing history 4 events

1. 2026-05-01
   status Under Contract
2. 2026-04-28
   price $530,000
3. 2025-11-21
   listed $550,000 Active
4. 2025-11-19
   historical $550,000

ⓘ 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: $3,769 · $314/mo
• Projected year-2 tax: $6,204 · $517/mo
• Expected delta: +$2,435/yr (+$203/mo · 64.6%)

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

Taxation est. · year 1

• Rental income: $72,000
• − Mortgage interest: −$29,688
• − Property taxes: −$3,769
• − Insurance: −$2,650
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − Depreciation: −$15,418
• Taxable income: $8,955
• Est. tax owed @ 24.0%: −$2,149
• After-tax cash flow: $14,959/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: Stonington School District
• NCES district ID: 0904380
• Math proficiency: 54% ▼ -10.00%
• Reading proficiency: 70% ▼ -7.00%
• Median HH income: $75,939
• Composite: 55.15/100
• National rank: #1280
• State rank: #43 of 153 in CT

Livability — Westerly

• Score: 74/100
• State rank: #10
• US rank: #4529

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 21,587
• Population (ZIP): 9,003

Population outlook (Southeastern Connecticut County) Hauer SSP2

• By 2040: 293,442

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 3% Black 3% Asian 2%
• Common ancestry: Russian 6% Lithuanian 5% Slovak 5%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 1% French/Haitian/Cajun 0%

Political lean MEDSL · Southeastern Connecticut

• 2024 margin: D (+13.0) · D 55.6% · R 42.6% · Other 1.8%
• All cycles: 2024: D+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -139.18%
• Current HPI: 187.2421
• 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

-3.6% since first listed

4 events — show timeline

• 2026-05-01 Pending — Smart MLS
• 2026-04-28 Price Changed $530,000 Smart MLS
• 2025-11-21 Listed $550,000 Smart MLS
• 2025-11-19 Coming Soon $550,000 Smart MLS

Property tax history

+2.1%/yr

Latest (2022): $3,769 · -0.8% YoY. Source: county tax records.