315 Rhode Island Ave · Pawtucket, RI 02860

$219,999

2 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 2 Days on market

Built 1955 4,948 sqft lot Est $404k · 46% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom ranch offering comfortable single-level living in a convenient Pawtucket location. Features include a bright and functional layout, full basement for storage or future expansion, off-street parking, and a manageable yard. Close to shopping, dining, parks, schools, and major highways. A great opportunity for first-time buyers, downsizers, or investors.

Key facts

• Manageable yard
• Full basement
• Close to dining

Tags

• FULL BASEMENT
• OFF-STREET PARKING
• MANAGEABLE YARD
• CONVENIENT LOCATION
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Finance

• HOA & community: Community amenities nearby include golf, marina, pool, public transportation, recreation area, restaurants, shopping, tennis courts, highway access, and proximity to hospital and schools

Exterior

• Parking: Space for 3 vehicles (no garage)
• Utilities: 200+ amp electric service; Public water; Public sewer
• Home design: Single-story home
• Construction: Concrete perimeter foundation
• Exterior features: No notable exterior features listed

Interior

• Kitchen: Refrigerator; Dishwasher
• Bedrooms: Two first-floor bedrooms
• Flooring: Hardwood; Laminate
• Bathrooms: One full bathroom (first floor)
• Heating & cooling: Oil-fired baseboard heating
• Interior features: Stall shower; Partially finished basement with interior and exterior entry
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $38 ($454/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (8.1% below list).
• Recommended offer: $202k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in Pawtucket — 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 71/100 on livability (#16 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, schools D, amenities F.
• Pawtucket (suburban): math 7% / reading 19% proficiency, ranked #33 of 39 in RI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 123 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 39% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 1955 — 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 $202,102 (8.1% below list)

Questions for the listing agent

1. Built in 1955 — 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. 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?
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: 0.92% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $404,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
327 Rhode Island Ave	0.01mi	3/2.0 (+1)	1,053 (-1%)	1mo	$415,000	$394	88
76 Rosella Ave	0.55mi	3/1.0 (+1)	1,092 (+3%)	1mo	$415,000	$380	64
100 Columbus Ave	0.43mi	2/1.0	1,118 (+5%)	15mo	$265,000	$237	59
39 Yale Ave	0.43mi	3/1.0 (+1)	1,036 (-3%)	16mo	$390,000	$376	58
45 Fortin Ave	0.44mi	2/2.0	1,153 (+8%)	7mo	$419,000	$363	56
67 Alfa Dr	0.20mi	3/2.0 (+1)	924 (-13%)	6mo	$80,000	$87	55
76 Lake St	0.55mi	2/2.0	972 (-9%)	2mo	$375,000	$386	54
49 Fred St	0.52mi	3/1.0 (+1)	960 (-10%)	12mo	$392,000	$408	44
84 Farrell St	0.64mi	2/1.0	967 (-9%)	13mo	$340,000	$352	44
24 Kepler St	0.54mi	2/1.5	925 (-13%)	11mo	$299,000	$323	42
125 Monticello Rd	0.64mi	3/1.0 (+1)	960 (-10%)	10mo	$375,000	$391	41
104 Lyman St	0.61mi	3/1.0 (+1)	1,171 (+10%)	11mo	$519,500	$444	40

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 · 3.47% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-32,226
• Equity at exit: $32,803

10-year hold

• IRR: -5.0%
• Equity multiple: 0.66×
• Total profit: $-20,762
• Equity at exit: $19,021

Cash invested: $61,600 (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 02860

• Rents YoY: 3.5%
• Active inventory: 123
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,021 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$313 /mo · $3,761/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $38

Break-even live

Break-even rent $1,973

Max offer price $219,999

Occupancy floor 93%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Fortin Ave Pawtucket, RI	2.0	2.0	1216	$2,500	$2.06	3d	1	0.39mi
67 Fred St Pawtucket, RI	3.0	1.0	1200	$2,500	$2.08	44d	1	0.49mi
133 Clifford St Unit 2 Pawtucket, RI	2.0	1.0	960	$1,800	$1.88	23d	1	0.68mi
31 Potter St Unit 1 Pawtucket, RI	3.0	1.0	1100	$2,000	$1.82	44d	1	0.75mi
53 S Bend St Unit 3 Pawtucket, RI	3.0	1.0	922	$1,900	$2.06	23d	1	0.79mi
178 Oak Hill Ave Unit 1 Pawtucket, RI	2.0	1.0	1200	$2,500	$2.08	44d	1	0.86mi
136 George St Unit 8 Pawtucket, RI	2.0	1.0	800	$1,650	$2.06	44d	1	0.90mi
29 Pine St Unit 2 Pawtucket, RI	3.0	1.0	1100	$1,900	$1.73	16d	1	0.94mi
6 Lawton St Unit 5 Pawtucket, RI	2.0	1.0	800	$1,450	$1.81	23d	1	0.97mi
44 Pine St Unit 2 Pawtucket, RI	2.0	1.0	980	$1,800	$1.84	23d	1	0.97mi
132 Armistice Blvd Unit 3 Pawtucket, RI	1.0	1.0	700	$1,300	$1.86	17d	1	1.00mi
160 Garden St Pawtucket, RI	2.0	1.0	1200	$2,300	$1.92	1d	1	1.01mi
48 Waltham St Pawtucket, RI	3.0	1.0	1100	$2,450	$2.23	44d	1	1.06mi
397 Pawtucket Ave Unit 2 Pawtucket, RI	3.0	1.0	1434	$2,200	$1.53	23d	1	1.10mi
13 Magill St Unit 2 Pawtucket, RI	2.0	1.0	1100	$1,850	$1.68	44d	1	1.11mi
724 Beverage Hill Ave Unit B2 Pawtucket, RI	2.0	1.0	790	$1,700	$2.15	23d	1	1.12mi
75 S Union St Pawtucket, RI	1.0–2.0	1.0–2.0	1053	$2,795	$2.65	1d	8	1.12mi
422 Pawtucket Ave Unit 2 Pawtucket, RI	3.0	1.0	900	$1,875	$2.08	44d	1	1.12mi
422 Pawtucket Ave Unit 11 Pawtucket, RI	2.0	1.0	700	$1,750	$2.50	23d	1	1.12mi
145 Randall St Pawtucket, RI	1.0–2.0	1.0	955	$2,150	$2.25	4d	5	1.16mi
180 Parkview Dr Pawtucket, RI	2.0	1.0	900	$1,885	$2.09	44d	1	1.18mi
421 West Ave Unit 1 Pawtucket, RI	3.0	1.0	1498	$2,300	$1.54	1d	1	1.18mi
43 Trenton St Unit 2 Pawtucket, RI	3.0	1.0	1092	$2,500	$2.29	44d	1	1.19mi
171 N Bend St Unit 1 Pawtucket, RI	3.0	2.0	1352	$2,450	$1.81	1d	1	1.20mi
28 Bayley St Unit 1107 Pawtucket, RI	1.0	1.5	1270	$2,400	$1.89	1d	1	1.21mi
19 Barney Ave Unit 1 Pawtucket, RI	3.0	1.0	1000	$1,950	$1.95	44d	1	1.22mi
904 York Ave Unit 1 Pawtucket, RI	2.0	1.0	1015	$2,200	$2.17	23d	1	1.22mi
223 Cottage St Unit 1 Pawtucket, RI	1.0	1.0	1000	$1,650	$1.65	44d	1	1.27mi
301 Lowden St Pawtucket, RI	3.0	1.0	1000	$2,100	$2.10	16d	1	1.31mi
8 Bagley St Unit 2 Pawtucket, RI	3.0	1.0	1173	$1,975	$1.68	23d	1	1.32mi
97 11th St #2 Providence, RI	2.0	1.0	1074	$2,500	$2.33	23d	1	1.33mi
14 Saratoga Ave Unit 5 Pawtucket, RI	2.0	1.0	1100	$1,950	$1.77	3d	1	1.34mi
14 Saratoga Ave Unit 4 Pawtucket, RI	2.0	1.0	1000	$1,795	$1.79	14d	1	1.34mi
984 York Ave Unit 2L Pawtucket, RI	1.0	1.0	726	$1,600	$2.20	44d	1	1.35mi
56 Greene St Unit 2 Pawtucket, RI	3.0	1.0	1200	$2,200	$1.83	44d	1	1.36mi
22 Heaton St Unit 3 Pawtucket, RI	3.0	1.0	1117	$2,300	$2.06	44d	1	1.37mi
595 Armistice Blvd Unit 3 Pawtucket, RI	2.0	1.0	700	$1,850	$2.64	10d	1	1.38mi
595 Armistice Blvd Unit 2 Pawtucket, RI	2.0	1.0	1000	$2,000	$2.00	10d	1	1.38mi
413 Central Ave Pawtucket, RI	1.0–3.0	1.0–2.0	1285	$2,428	$1.89	1d	9	1.38mi
850 Main St #2 Pawtucket, RI	2.0	1.0	1000	$1,495	$1.50	23d	1	1.38mi

Listing history 3 events

1. 2026-06-18
   days on market $219,999 Active 2 DOM
2. 2026-06-17
   remarks 372-char remark
3. 2026-06-17
   listed $219,999 Active 1 DOM

ⓘ 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: $3,761 · $313/mo
• Projected year-2 tax: $3,761 · $313/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 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: $24,252
• − Mortgage interest: −$12,323
• − Property taxes: −$3,761
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,940
• − Management: −$1,940
• − Depreciation: −$6,400
• Taxable loss: −$3,212
• Est. tax savings @ 24.0%: +$771
• After-tax cash flow: $1,225/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: Pawtucket
• NCES district ID: 4400840
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $41,838
• Composite: 11.29/100
• National rank: #9718
• State rank: #33 of 39 in RI

Livability — Pawtucket

• Score: 71/100
• State rank: #16
• US rank: #7037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pawtucket, RI
• County: Providence County · 548,917 people
• City population: 75,942
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 47,818
• Household income: $61,539
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 2528.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 29% Two or more races 22% Black 14% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 6%
• Common ancestry: Russian 9% Lithuanian 4% Romanian 2%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 22% Other Indo-European 9% French/Haitian/Cajun 9%

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: ▼ -215.00%
• Current HPI: 355.0152
• Rent YoY: ▲ 3.47%
• 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

1 event — show timeline

• 2026-06-16 Listed $219,999 RIS

Property tax history

+2.1%/yr

Latest (2025): $3,761 · +6.6% YoY. Source: county tax records.