62 Maple Ave · Cranston, RI 02919

$540,000

6 bd · 2.0 ba · 2,059 sqft · MultiFamily public records · 2 Days on market

Built 1900 3,532 sqft lot Est $533k · at est.

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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).

• Cash flow +15.2/30.0
• ARV discount +6.9/15.0
• DSCR +4.7/10.0
• Livability +4.4/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

3 bedroom Duplex 1 bath, new roof

Key facts

• 3,532 sq ft lot
• Built 1900
• Listed 2 days

Property features AI

Finance

• Financial info: Two rental units with listed actual rent of $1,800 each
• HOA & community: Located in a senior community

Exterior

• Parking: No garage
• Security: No specific security features provided
• Utilities: Public water; Public sewer; Electric service 100 amps
• Home design: Two-story multiunit building; Above-grade finished area listed as 3,532
• Construction: Vinyl siding exterior
• Exterior features: Lot approximately 0.081 acres

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two separate 3-bedroom units
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms and one half bathroom (building total); Unit 1: 1 full bath; Unit 2: 1 full bath and 1 half bath
• Heating & cooling: Gas heating with baseboard and forced air; Single cooling unit
• Interior features: Full, partially finished basement with interior entry; 12 total rooms
• Laundry & utility: Tankless water heater and secondary water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $540k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive. Per door: $94/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $463k (14.3% below list).
• Recommended offer: $463k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.2% in Cranston — 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 87/100 on livability (#1 in RI, #323 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Johnston (suburban): math 13% / reading 32% proficiency, ranked #28 of 39 in RI (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Thornton School (math 17% / reading 30%, grade F, #105 of 167 statewide, top 63%, 335 students, 62% FRL); Nicholas A. Ferri Middle (math 10% / reading 28%, grade F, #33 of 57 statewide, top 57%, 761 students, 46% FRL); Johnston Senior High (math 17% / reading 47%, grade F, #30 of 58 statewide, top 51%, 804 students, 40% FRL).
• Market conditions: 141 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,626/mo this rent would consume 60% of the median local household income ($92k/yr) (locally 497% 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 $4k of loan paydown is wiped out by about $16k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $462,600 (14.3% below list)

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. 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 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: 0.86% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.50%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $533,281
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 72 Pocasset St	0.05mi	6/2.0	2,059 (0%)	6mo	$480,000	$233	93
57 59 Maple Ave	0.02mi	6/3.0	2,059 (0%)	10mo	$535,000	$260	86
55 Walnut St	0.03mi	6/2.0	2,278 (+11%)	16mo	$590,000	$259	68
108 Clark Ave	0.59mi	6/2.0	2,296 (+12%)	10mo	$595,000	$259	45
38 Mill St	0.64mi	5/2.0 (-1)	1,750 (-15%)	6mo	$487,000	$278	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.50×
• Total profit: $-75,577
• Equity at exit: $80,516

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-50,714
• Equity at exit: $46,689

Cash invested: $151,200 (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 02919

• Active inventory: 141
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $4,626 high
• Mortgage (P&I): −$2,832
• Tax from tax record: −$409 /mo · $4,908/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$971
• Net cashflow: $189

Break-even live

Break-even rent $4,387

Max offer price $540,000

Occupancy floor 91%

Sensitivity live

Price	-10% $494	-5% $342	+0% $189	+5% $36	+10% $-117
Rent	-10% $-177	-5% $6	+0% $189	+5% $371	+10% $554
Rate	-1.0pp $461	-0.5pp $326	base $189	+0.5pp $49	+1.0pp $-94

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,626
Total (2 units)			$4,626

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: $135,000
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Calef St Unit 16 Cranston, RI	5.0	3.0	3000	$3,500	$1.17	19d	1	1.25mi

Listing history 2 events

1. 2026-05-15
   status Pending
2. 2026-05-12
   listed $540,000 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: $4,908 · $409/mo
• Projected year-2 tax: $6,855 · $571/mo
• Expected delta: +$1,947/yr (+$162/mo · 39.7%)

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

Taxation est. · year 1

• Rental income: $55,512
• − Mortgage interest: −$30,248
• − Property taxes: −$4,908
• − Insurance: −$2,700
• − Repairs & maintenance: −$4,441
• − Management: −$4,441
• − Depreciation: −$15,709
• Taxable loss: −$6,935
• Est. tax savings @ 24.0%: +$1,664
• After-tax cash flow: $3,929/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: Johnston
• NCES district ID: 4400540
• Math proficiency: 13% ▼ -11.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $57,182
• Composite: 20.6/100
• National rank: #8551
• State rank: #28 of 39 in RI

Livability — Cranston

• Score: 87/100
• State rank: #1
• US rank: #323

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Providence County · 548,917 people
• City population: 72,803
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 29,802
• Household income: $91,775
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 497.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 17% Two or more races 14% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 1% Dominican 3%
• Common ancestry: Lithuanian 7% Russian 4% Romanian 3%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -384.46%
• Current HPI: 355.3054
• Rent YoY: —
• 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

2 events — show timeline

• 2026-05-15 Pending — RIS
• 2026-05-12 Listed $540,000 RIS

Property tax history

+2.4%/yr

Latest (2025): $4,908 · +2.1% YoY. Source: county tax records.