36 Fairmount St · Woonsocket, RI 02895

$419,900

6 bd · 4.0 ba · 3,025 sqft · MultiFamily public records · 148 Days on market

Built 1900 4,356 sqft lot $139/sqft · 21% below area Est $597k · 30% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Incredible opportunity for investors and developers in Woonsocket, RI. This 4-unit residential building has been fully gutted to the studs, providing a blank canvas ready for customization, renovation, and value-add potential. Ideal for those looking to design and finish units to their exact specifications, this property offers tremendous upside once completed. Off-street parking is included, adding convenience and appeal for future tenants. Located in an excellent area with easy access to major highways, shopping, dining, and local amenities, the property is well-positioned for strong rental demand. Whether you're an experienced developer or an investor seeking your next project, this is a rare chance to transform a multi-unit property in a desirable Woonsocket location. Don't miss out on this exceptional investment opportunity. Engineering and permit ready - Being sold as-is.

Key facts

• Fully gutted
• Blank canvas
• Off-street parking

Tags

• FULLY GUTTED
• BLANK CANVAS
• OFF-STREET PARKING
• ENGINEERING AND PERMIT READY

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $4k ($53k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $420k).
• Recommended offer: $370k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.9% vs local median 3.3% in Woonsocket — 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 65/100 on livability (#24 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, schools D-, amenities F.
• Woonsocket (suburban): math 5% / reading 14% proficiency, ranked #37 of 39 in RI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 163 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $9,045/mo this rent would consume 178% of the median local household income ($61k/yr) (locally 2658% 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 $13k 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 + 8.0% rent growth), your $118k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($370k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y ago; this cycle's ask has dropped $55k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $369,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.15% ✓
• Cap rate: 18.86%
• Cash-on-cash: 44.87%
• DSCR: 3.00
• GRM: 3.9

CMA / ARV

• ARV (median comp): $597,384
• List price: $419,900
• Delta: -29.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
164 W School St	0.50mi	6/3.0	2,976 (-2%)	2mo	$545,000	$183	68
517 Fairmount St	0.44mi	6/3.0	3,254 (+8%)	5mo	$405,000	$124	58
201 High St	0.28mi	6/3.0	3,296 (+9%)	17mo	$402,000	$122	54
16 Barton St	0.67mi	6/3.0	3,191 (+6%)	8mo	$370,000	$116	49
133 East School St	0.72mi	6/3.0	2,856 (-6%)	6mo	$455,000	$159	48
159 161 Grand St	0.74mi	6/2.0	2,937 (-3%)	7mo	$430,000	$146	47
300 4th Ave	0.38mi	5/3.0 (-1)	3,376 (+12%)	11mo	$545,000	$161	45
18 21 Fifth Ave	0.49mi	6/3.0	3,330 (+10%)	17mo	$500,000	$150	42
25 Providence St	0.53mi	6/4.0	3,400 (+12%)	18mo	$580,000	$171	40
409 Main St	0.58mi	6/3.0	2,783 (-8%)	20mo	$452,250	$163	39
155 Transit St	0.72mi	7/4.0 (+1)	2,714 (-10%)	15mo	$531,000	$196	32
125 127 Park Ave	0.70mi	7/4.0 (+1)	3,404 (+12%)	16mo	$580,000	$170	28

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 47.4%
• Equity multiple: 3.21×
• Total profit: $259,817
• Equity at exit: $62,608

10-year hold

• IRR: 55.2%
• Equity multiple: 7.84×
• Total profit: $804,543
• Equity at exit: $36,305

Cash invested: $117,572 (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 02895

• Rents YoY: 9.2%
• Active inventory: 163
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $9,045 medium
• Mortgage (P&I): −$2,202
• Tax from tax record: −$372 /mo · $4,465/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,899
• Net cashflow: $4,397

Break-even live

Break-even rent $3,480

Max offer price $419,900

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$9,044
Total (4 units)			$9,045

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: $104,975
• Closing costs: $12,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 Blackstone St Woonsocket, RI	6.0	2.0	2400	$2,900	$1.21	1d	1	0.26mi

Listing history 40 events

1. 2026-06-18
   days on market $419,900 Active 148 DOM
2. 2026-06-17
   days on market $419,900 Active 147 DOM
3. 2026-06-16
   days on market $419,900 Active 146 DOM
4. 2026-06-15
   days on market $419,900 Active 145 DOM
5. 2026-06-13
   days on market $419,900 Active 143 DOM
6. 2026-06-13
   pricedays on market $419,900 Active 142 DOM
7. 2026-06-09
   days on market $425,000 Active 139 DOM
8. 2026-06-08
   days on market $425,000 Active 138 DOM
9. 2026-06-07
   days on market $425,000 Active 137 DOM
10. 2026-06-05
    days on market $425,000 Active 134 DOM
11. 2026-06-03
    pricedays on market $425,000 Active 133 DOM
12. 2026-06-02
    days on market $439,900 Active 132 DOM
13. 2026-06-01
    days on market $439,900 Active 131 DOM
14. 2026-05-31
    days on market $439,900 Active 130 DOM
15. 2026-03-18
    price $450,000 890-char remark

    Show marketing remark (890 chars)

    Incredible opportunity for investors and developers in Woonsocket, RI. This 4-unit residential building has been fully gutted to the studs, providing a blank canvas ready for customization, renovation, and value-add potential. Ideal for those looking to design and finish units to their exact specifications, this property offers tremendous upside once completed. Off-street parking is included, adding convenience and appeal for future tenants. Located in an excellent area with easy access to major highways, shopping, dining, and local amenities, the property is well-positioned for strong rental demand. Whether you're an experienced developer or an investor seeking your next project, this is a rare chance to transform a multi-unit property in a desirable Woonsocket location. Don't miss out on this exceptional investment opportunity. Engineering and permit ready - Being sold as-is.

16. 2026-01-21
    listed $475,000 Active 890-char remark

    Show marketing remark (890 chars)

    Incredible opportunity for investors and developers in Woonsocket, RI. This 4-unit residential building has been fully gutted to the studs, providing a blank canvas ready for customization, renovation, and value-add potential. Ideal for those looking to design and finish units to their exact specifications, this property offers tremendous upside once completed. Off-street parking is included, adding convenience and appeal for future tenants. Located in an excellent area with easy access to major highways, shopping, dining, and local amenities, the property is well-positioned for strong rental demand. Whether you're an experienced developer or an investor seeking your next project, this is a rare chance to transform a multi-unit property in a desirable Woonsocket location. Don't miss out on this exceptional investment opportunity. Engineering and permit ready - Being sold as-is.

17. 2025-09-22
    soldstatus $400,000 Closed 17-char remark

    Show marketing remark (17 chars)

    Sold before Print

18. 2025-09-22
    listed $400,000 Active 17-char remark

    Show marketing remark (17 chars)

    Sold before Print

19. 2025-09-22
    soldstatus $400,000

    Show marketing remark (17 chars)

    Sold before Print

20. 2024-04-26
    soldstatus $450,000 Sold
21. 2024-04-26
    soldstatus $450,000 Closed
22. 2024-04-26
    soldstatus $450,000
23. 2024-01-12
    status Under Agreement
24. 2024-01-10
    status Pending
25. 2024-01-03
    listed $450,000 New
26. 2024-01-03
    listed $450,000 Active
27. 2024-01-03
    historical
28. 2023-12-11
    listed $500,000 Active
29. 2019-07-15
    soldstatus $224,000
30. 2019-07-12
    soldstatus $224,000 Sold
31. 2019-05-30
    status Pending
32. 2019-05-20
    status Active
33. 2019-05-14
    status Pending
34. 2019-03-28
    listed $229,900 Active
35. 2013-12-19
    price $30,000
36. 2009-04-28
    soldstatus $30,000
37. 2009-03-21
    historical
38. 2008-08-21
    listed $120,900
39. 2005-09-09
    soldstatus $285,000
40. 2005-05-26
    soldstatus $195,000

ⓘ 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: $4,465 · $372/mo
• Projected year-2 tax: $5,655 · $471/mo
• Expected delta: +$1,190/yr (+$99/mo · 26.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $108,540
• − Mortgage interest: −$23,521
• − Property taxes: −$4,465
• − Insurance: −$2,100
• − Repairs & maintenance: −$8,683
• − Management: −$8,683
• − Depreciation: −$12,215
• Taxable income: $48,873
• Est. tax owed @ 24.0%: −$11,729
• After-tax cash flow: $41,029/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: Woonsocket
• NCES district ID: 4401200
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $37,757
• Composite: 8.01/100
• National rank: #9923
• State rank: #37 of 39 in RI

Livability — Woonsocket

• Score: 65/100
• State rank: #24
• US rank: #12968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, RI
• County: Providence County · 548,917 people
• City population: 43,521
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 43,521
• Household income: $61,059
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2658.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 13% Romanian 3% Russian 3%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 17% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -431.80%
• Current HPI: 357.8858
• Rent YoY: ▲ 9.15%
• 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

+130.8% since first listed

26 events — show timeline

• 2026-03-18 Price Changed $450,000 RIS
• 2026-01-21 Listed $475,000 RIS
• 2025-09-22 Sold (Public Records) $400,000 Public Records
• 2025-09-22 Listed $400,000 RIS
• 2025-09-22 Sold (MLS) $400,000 RIS
• 2024-04-26 Sold (Public Records) $450,000 Public Records
• 2024-04-26 Sold (MLS) $450,000 RIS
• 2024-04-26 Sold (MLS) $450,000 MLS PIN
• 2024-01-12 Pending — MLS PIN
• 2024-01-10 Pending — RIS
• 2024-01-03 Listing Removed — RIS
• 2024-01-03 Listed $450,000 RIS
• 2024-01-03 Listed $450,000 MLS PIN
• 2023-12-11 Listed $500,000 RIS
• 2019-07-15 Sold (Public Records) $224,000 Public Records
• 2019-07-12 Sold (MLS) $224,000 RIS
• 2019-05-30 Pending — RIS
• 2019-05-20 Relisted — RIS
• 2019-05-14 Pending — RIS
• 2019-03-28 Listed $229,900 RIS
• 2013-12-19 Price Changed $30,000 RIS
• 2009-04-28 Sold (MLS) $30,000 RIS
• 2009-03-21 Listing Removed — RIS
• 2008-08-21 Listed $120,900 RIS
• 2005-09-09 Sold (Public Records) $285,000 Public Records
• 2005-05-26 Sold (Public Records) $195,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $4,465 · +13.0% YoY. Source: county tax records.