215 Roosevelt St · Providence, RI 02909

$325,000

2 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 12 Days on market

Built 1945 2,614 sqft lot $298/sqft · 16% above area Est $420k · 23% 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 +10.8/30.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Affordable 2-4 bedroom home with 2 full bathrooms and a finished basement. Home was redone in 2009 including the roof and heating system. This home is tucked behind another home on Roosevelt St. The main level of the home has a living room, kitchen, dining area, office, and a full bathroom. The second level has two large bedrooms and another full bathroom. Hardwood flooring in the living room, office, and entire second level. Washer and dryer have been moved up to the first floor but there are also connections in the basement to fit your needs best. Lower level has been finished with another 2 potential bedrooms and a living room area. The low maintenance backyard is also fenced in for your

Key facts

• Finished basement
• 2,614 sq ft lot
• 2 parking spots

Tags

• FINISHED BASEMENT
• LOW MAINTENANCE BACKYARD
• FENCED IN FOR PRIVACY

Property features AI

Finance

• HOA & community: Community offers highway access, proximity to hospital, schools, public transportation, restaurants, and shopping

Exterior

• Parking: No garage; 2 total parking spaces
• Utilities: 100 amp electric service; Public water; Public sewer
• Home design: 2 stories; Vinyl siding exterior; Combination foundation
• Construction: Vinyl siding construction; Combination foundation
• Exterior features: Lot approximately 2,614 sq ft

Interior

• Kitchen: Gas water heater (appliance noted)
• Bedrooms: Total rooms: 9
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas hot water heating
• Interior features: Finished full basement with interior entry
• Laundry & utility: Gas water heater (utility)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (27.7% below list).
• Recommended offer: $235k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.0% in 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 84/100 on livability (#2 in RI, #794 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, schools F.
• Providence (urban): math 8% / reading 16% proficiency, ranked #34 of 39 in RI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 132 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 44% of the median local income ($65k/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 $10k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 29y 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 $32k; list at $325k implies a 907% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $234,964 (27.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.72% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.99%
• DSCR: 0.91
• GRM: 11.5

CMA / ARV

• ARV (median comp): $419,711
• List price: $325,000
• Delta: -16.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
293 Webster Ave	0.39mi	3/1.0 (+1)	1,188 (+9%)	3mo	$370,000	$311	60
52 Hillwood St	0.47mi	3/1.5 (+1)	1,001 (-8%)	0mo	$281,000	$281	57
51 Alto St	0.40mi	3/1.5 (+1)	996 (-9%)	14mo	$232,000	$233	49
127 Gladstone St	0.75mi	2/1.0	1,170 (+7%)	7mo	$340,000	$291	48

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.33×
• Total profit: $-60,745
• Equity at exit: $48,459

10-year hold

• IRR: -10.4%
• Equity multiple: 0.35×
• Total profit: $-58,961
• Equity at exit: $28,100

Cash invested: $91,000 (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 02909

• Home prices YoY: -13.3%
• Rents YoY: 3.7%
• Active inventory: 132
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,350 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$167 /mo · $2,004/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-151

Break-even live

Break-even rent $2,540

Max offer price $298,407

Occupancy floor —

Sensitivity live

Price	-10% $33	-5% $-59	+0% $-151	+5% $-243	+10% $-335
Rent	-10% $-336	-5% $-243	+0% $-151	+5% $-58	+10% $35
Rate	-1.0pp $13	-0.5pp $-68	base $-151	+0.5pp $-235	+1.0pp $-320

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Dunford St Unit 2 Providence, RI	3.0	2.0	1116	$2,400	$2.15	24d	1	0.17mi
348 Union Ave Unit 1 Providence, RI	2.0	1.0	900	$1,900	$2.11	15d	1	0.36mi
50 Murray St Unit 9 Providence, RI	2.0	1.5	886	$2,500	$2.82	2d	1	0.40mi
50 Murray St Unit 19 Providence, RI	2.0	1.5	1130	$2,750	$2.43	17d	1	0.40mi
50 Murray St Unit 19 Providence, RI	2.0	1.5	1130	$2,750	$2.43	2d	1	0.40mi
50 Murray St Unit 20 Providence, RI	2.0	1.5	1130	$2,750	$2.43	12d	1	0.40mi
50 Murray St Unit 21 Providence, RI	2.0	1.5	1130	$2,750	$2.43	21d	1	0.42mi
50 Murray St Unit 2 Providence, RI	2.0	1.5	860	$2,500	$2.91	44d	1	0.42mi
50 Murray St Unit 2 Providence, RI	2.0	1.5	840	$2,350	$2.80	2d	1	0.42mi
50 Murray St Unit 10 Providence, RI	2.0	1.5	860	$2,500	$2.91	20d	1	0.42mi
304 Webster Ave Cranston, RI	2.0	1.0	1144	$1,850	$1.62	11d	1	0.43mi
166 Valley St Providence, RI	2.0	1.0–2.0	733	$2,670	$3.64	3d	7	0.86mi
37 Sumner Ave Unit 2 Cranston, RI	2.0	1.0	800	$1,600	$2.00	18d	1	0.92mi
78 Old Oak Ave Unit 2 Cranston, RI	2.0	1.0	880	$1,700	$1.93	44d	1	0.97mi
8 Anthony Ave Unit 1 Providence, RI	3.0	2.0	1400	$2,800	$2.00	15d	1	1.01mi
151 Chestnut Hill Ave Cranston, RI	2.0	1.0	1114	$2,795	$2.51	45d	1	1.05mi
20 Pavilion Ct Unit 22 Cranston, RI	2.0	1.5	1400	$2,500	$1.79	44d	1	1.14mi
718 Dyer Ave Cranston, RI	3.0	1.5	1233	$1,900	$1.54	24d	1	1.29mi
718 Dyer Ave Cranston, RI	3.0	1.5	1250	$1,900	$1.52	18d	1	1.29mi
56 Greenwich St Unit 1 Providence, RI	3.0	2.0	1400	$2,800	$2.00	24d	1	1.37mi
1303 Cranston St Unit 1 Cranston, RI	3.0	1.0	1356	$2,750	$2.03	44d	1	1.39mi
1336 Cranston St Fl Rear Cranston, RI	2.0	2.0	1000	$2,095	$2.10	11d	1	1.43mi
28 Cleveland Ave Unit 3 Cranston, RI	2.0	1.0	1000	$1,695	$1.70	24d	1	1.43mi

Listing history 32 events

1. 2026-06-16
   statusdays on market $325,000 Pending 12 DOM
2. 2026-06-15
   days on market $325,000 Active 11 DOM
3. 2026-06-13
   days on market $325,000 Active 9 DOM
4. 2026-06-09
   days on market $325,000 Active 5 DOM
5. 2026-06-08
   days on market $325,000 Active 4 DOM
6. 2026-06-07
   days on market $325,000 Active 3 DOM
7. 2026-06-05
   pricedays on marketlisting id $325,000 Active 1 DOM
8. 2026-06-03
   days on market $349,900 Active 40 DOM
9. 2026-06-02
   days on market $349,900 Active 39 DOM
10. 2026-06-01
    days on market $349,900 Active 38 DOM
11. 2026-05-31
    days on market $349,900 Active 37 DOM
12. 2026-05-12
    price $349,900 708-char remark
13. 2026-05-04
    price $365,000 708-char remark
14. 2026-04-24
    listed $375,000 Active 708-char remark
15. 2019-09-20
    price $54,900
16. 2013-12-19
    price $34,900
17. 2009-05-11
    soldstatus $32,280
18. 2009-04-06
    historical
19. 2009-01-12
    listed $60,000
20. 2005-10-27
    soldstatus $305,000
21. 2005-10-27
    soldstatus $305,000
22. 2003-07-16
    soldstatus $127,000
23. 2001-05-18
    soldstatus $70,000
24. 2001-04-20
    soldstatus $50,000
25. 2001-04-19
    soldstatus $50,000
26. 2001-03-30
    historical
27. 2000-11-02
    listed $62,500
28. 2000-03-22
    historical
29. 1999-09-22
    listed $69,900
30. 1998-03-13
    listed $34,900
31. 1998-01-15
    historical
32. 1997-10-15
    listed $34,900

ⓘ 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: $2,004 · $167/mo
• Projected year-2 tax: $3,651 · $304/mo
• Expected delta: +$1,647/yr (+$137/mo · 82.2%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $28,196
• − Mortgage interest: −$18,205
• − Property taxes: −$2,004
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − Depreciation: −$9,455
• Taxable loss: −$7,604
• Est. tax savings @ 24.0%: +$1,825
• After-tax cash flow: $19/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: Providence
• NCES district ID: 4400900
• Math proficiency: 8% ▼ -4.00%
• Reading proficiency: 16% ▼ -2.00%
• Median HH income: $38,197
• Composite: 10.12/100
• National rank: #9803
• State rank: #34 of 39 in RI

Livability — Providence

• Score: 84/100
• State rank: #2
• US rank: #794

Category grades

Amenities A+ Commute A+ 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: Providence, RI
• County: Providence County · 548,917 people
• City population: 212,734
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 46,014
• Household income: $64,649
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 2000.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 23% White 22% Black 12% Asian 2% Native American 2%
• Hispanic origin (detail): Puerto Rican 12% Dominican 23%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica
• Languages at home: 43% English-only · Spanish 50% Other Indo-European 2% Other Asian/Pacific 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: ▼ -72.78%
• Current HPI: 474.9956
• Rent YoY: ▲ 3.68%
• 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

+831.2% since first listed

24 events — show timeline

• 2026-06-16 Pending — RIS
• 2026-06-04 Listing Removed — RIS
• 2026-06-04 Listed $325,000 RIS
• 2026-05-12 Price Changed $349,900 RIS
• 2026-05-04 Price Changed $365,000 RIS
• 2026-04-24 Listed $375,000 RIS
• 2019-09-20 Price Changed $54,900 RIS
• 2013-12-19 Price Changed $34,900 RIS
• 2009-05-11 Sold (MLS) $32,280 RIS
• 2009-04-06 Listing Removed — RIS
• 2009-01-12 Listed $60,000 RIS
• 2005-10-27 Sold (Public Records) $305,000 Public Records
• 2005-10-27 Sold (Public Records) $305,000 Public Records
• 2003-07-16 Sold (Public Records) $127,000 Public Records
• 2001-05-18 Sold (Public Records) $70,000 Public Records
• 2001-04-20 Sold (MLS) $50,000 RIS
• 2001-04-19 Sold (Public Records) $50,000 Public Records
• 2001-03-30 Listing Removed — RIS
• 2000-11-02 Listed $62,500 RIS
• 2000-03-22 Listing Removed — RIS
• 1999-09-22 Listed $69,900 RIS
• 1998-03-13 Listed $34,900 RIS
• 1998-01-15 Listing Removed — RIS
• 1997-10-15 Listed $34,900 RIS

Property tax history

+0.0%/yr

Latest (2025): $2,004 · -38.5% YoY. Source: county tax records.