476 N Broadway · East Providence, RI 02914

$479,900

5 bd · 2.0 ba · 1,579 sqft · MultiFamily public records · 24 Days on market

Built 1910 4,356 sqft lot Est $448k · 7% 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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +6.7/10.0
• ARV discount +4.3/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Recently remodeled decent, well maintained 2 family property, 2 bedrooms on each floor with an additional bedroom on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to highways, stores and schools. This is a must see!

Key facts

• Full basement
• Bright kitchens
• Updated flooring

Tags

• MULTI-FAMILY PROPERTY
• SEPARATE LIVING SPACES
• BRIGHT KITCHENS
• UPDATED FLOORING
• FULL BASEMENT
• OFF-STREET PARKING

Property features AI

Finance

• Financial info: Multifamily property with two income units (3-bed and 2-bed)
• HOA & community: Community provides highway access and is near schools, public transportation, and shopping

Exterior

• Parking: No garage; Total of 3 parking spaces
• Utilities: Sewer connected; Public water connected
• Home design: Multifamily building with 2 units in 1 building; About 2,684 square feet above grade finished area
• Construction: Drywall and vinyl siding exterior
• Exterior features: Porch with screened area; Lot approximately 0.1 acre

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two-unit property: one 3-bedroom unit and one 2-bedroom unit
• Flooring: Carpet; Hardwood
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas baseboard heating; Central cooling (one unit)
• Interior features: Finished full basement with interior entry; 11 total rooms
• Laundry & utility: 100 amp electric service

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $480k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $480k).
• Recommended offer: $473k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.2% in East Providence — 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 (#12 in RI, #4,784 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• East Providence (suburban): math 18% / reading 31% proficiency, ranked #26 of 39 in RI (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 62 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $5,592/mo this rent would consume 110% of the median local household income ($61k/yr) (locally 1134% 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 $3k of loan paydown is wiped out by about $14k 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 + 3.0% rent growth), your $134k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($473k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $360k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $472,701 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.08%
• DSCR: 1.49
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $448,436
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
94 John St	0.68mi	4/2.0 (-1)	1,512 (-4%)	1mo	$450,000	$298	56
95 Dewey Ave	0.17mi	4/2.0 (-1)	1,408 (-11%)	18mo	$400,000	$284	54
21 North Hull St	0.74mi	4/2.0 (-1)	1,792 (+14%)	23mo	$499,000	$278	19

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $1,221
• Equity at exit: $71,555

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $102,766
• Equity at exit: $41,493

Cash invested: $134,372 (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 02914

• Active inventory: 62
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $5,592 high
• Mortgage (P&I): −$2,517
• Tax from tax record: −$461 /mo · $5,531/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,174
• Net cashflow: $1,240

Break-even live

Break-even rent $4,022

Max offer price $479,900

Occupancy floor 73%

Sensitivity live

Price	-10% $1,512	-5% $1,376	+0% $1,240	+5% $1,104	+10% $968
Rent	-10% $798	-5% $1,019	+0% $1,240	+5% $1,461	+10% $1,682
Rate	-1.0pp $1,482	-0.5pp $1,362	base $1,240	+0.5pp $1,116	+1.0pp $989

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,844
1× unit	1	1	$1,747
Total (3 units)			$5,592

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: $119,975
• Closing costs: $14,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Kenton Ave Rumford, RI	4.0	2.0	1800	$3,750	$2.08	15d	1	1.05mi
98 Butler Ave Providence, RI	4.0	2.0	1890	$5,000	$2.65	3d	1	1.20mi

Listing history 17 events

1. 2026-05-11
   status Pending
2. 2026-04-19
   historical Active Under Contract
3. 2026-04-17
   listed $479,900 Active
4. 2022-02-11
   soldstatus $360,000 Sold 302-char remark

   Show marketing remark (297 chars)

   Recently remodelled decent, well maintained 2 family property. 2 bedrooms on each floor with an additional room on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to Highways, stores, schools. This is a must see!

5. 2022-02-11
   soldstatus $360,000 Closed 297-char remark

   Show marketing remark (297 chars)

   Recently remodelled decent, well maintained 2 family property. 2 bedrooms on each floor with an additional room on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to Highways, stores, schools. This is a must see!

6. 2022-02-11
   soldstatus $360,000

   Show marketing remark (297 chars)

   Recently remodelled decent, well maintained 2 family property. 2 bedrooms on each floor with an additional room on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to Highways, stores, schools. This is a must see!

7. 2022-01-17
   status Under Agreement 302-char remark

   Show marketing remark (302 chars)

   Recently remodeled decent, well maintained 2 family property, 2 bedrooms on each floor with an additional bedroom on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to highways, stores and schools. This is a must see!

8. 2022-01-16
   status Pending 297-char remark

   Show marketing remark (297 chars)

   Recently remodelled decent, well maintained 2 family property. 2 bedrooms on each floor with an additional room on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to Highways, stores, schools. This is a must see!

9. 2022-01-07
   listed $389,900 New 302-char remark

   Show marketing remark (302 chars)

   Recently remodeled decent, well maintained 2 family property, 2 bedrooms on each floor with an additional bedroom on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to highways, stores and schools. This is a must see!

10. 2021-12-06
    listed $389,900 Active 297-char remark

    Show marketing remark (297 chars)

    Recently remodelled decent, well maintained 2 family property. 2 bedrooms on each floor with an additional room on the second floor. New floors, new boilers, new cabinets, new stoves, new refrigerators, new cellar windows, finished basement. Close to Highways, stores, schools. This is a must see!

11. 2020-07-24
    soldstatus $190,000 Closed
12. 2020-07-24
    soldstatus $190,000
13. 2020-07-09
    status Pending
14. 2020-07-03
    status Active
15. 2020-02-14
    status Pending
16. 2020-02-04
    price $199,500
17. 2019-12-11
    listed $225,000 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: $5,531 · $461/mo
• Projected year-2 tax: $6,677 · $556/mo
• Expected delta: +$1,146/yr (+$95/mo · 20.7%)

ⓘ 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: $67,104
• − Mortgage interest: −$26,882
• − Property taxes: −$5,531
• − Insurance: −$2,400
• − Repairs & maintenance: −$5,368
• − Management: −$5,368
• − Depreciation: −$13,961
• Taxable income: $7,594
• Est. tax owed @ 24.0%: −$1,823
• After-tax cash flow: $13,059/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: East Providence
• NCES district ID: 4400330
• Math proficiency: 18% ▼ -8.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $51,011
• Composite: 21.69/100
• National rank: #8274
• State rank: #26 of 39 in RI

Livability — East Providence

• Score: 74/100
• State rank: #12
• US rank: #4784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Providence, RI
• County: Providence County · 548,917 people
• City population: 38,586
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 21,834
• Household income: $61,191
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1134.0

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 (67%)
• Race & ethnicity: White 67% Two or more races 12% Hispanic / Latino 12% Black 8% Asian 4% Native American 1%
• Hispanic origin (detail): Puerto Rican 4% Dominican 3%
• Common ancestry: Russian 29% Lithuanian 4% Romanian 3%
• Foreign-born: 24% · Canada, China
• Languages at home: 67% English-only · Other Indo-European 20% Spanish 7% 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: ▼ -461.46%
• Current HPI: 323.298
• 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

+113.3% since first listed

17 events — show timeline

• 2026-05-11 Pending — RIS
• 2026-04-19 Contingent — RIS
• 2026-04-17 Listed $479,900 RIS
• 2022-02-11 Sold (Public Records) $360,000 Public Records
• 2022-02-11 Sold (MLS) $360,000 RIS
• 2022-02-11 Sold (MLS) $360,000 MLS PIN
• 2022-01-17 Pending — MLS PIN
• 2022-01-16 Pending — RIS
• 2022-01-07 Listed $389,900 MLS PIN
• 2021-12-06 Listed $389,900 RIS
• 2020-07-24 Sold (Public Records) $190,000 Public Records
• 2020-07-24 Sold (MLS) $190,000 RIS
• 2020-07-09 Pending — RIS
• 2020-07-03 Relisted — RIS
• 2020-02-14 Pending — RIS
• 2020-02-04 Price Changed $199,500 RIS
• 2019-12-11 Listed $225,000 RIS

Property tax history

+3.3%/yr

Latest (2025): $5,531 · +14.5% YoY. Source: county tax records.