76 Slater St · Pawtucket, RI 02860

$575,000

6 bd · 3.0 ba · 3,096 sqft · MultiFamily public records · 96 Days on market

Built 1900 2,614 sqft lot $186/sqft · 11% below area Est $688k · 16% under

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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 +20.5/30.0
• ARV discount +14.9/15.0
• DSCR +6.5/10.0
• 1% rule +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This 3-family on Slater Street is available ONLY for cash buyers or those using a 203K/conventional renovation loan bring your vision and make this gem shine! Conveniently located near I-95 North & South and just minutes from the new train station, this 3-family home offers strong rental potential and versatility. The 2nd and 3rd floor units each feature 3 spacious bedrooms and 1 full bath. The 1st floor unit has had permits pulled and framing work completed currently framed for a 2-bedroom, 1-bath layout and ready for the new owner to finish and customize to their liking. Whether you're looking to owner-occupy or invest, this property offers excellent upside in a growing location.

Key facts

• Ready for new owner
• 2,614 sq ft lot
• Garage

Tags

• STRONG RENTAL POTENTIAL
• FRAMING WORK COMPLETED
• READY FOR NEW OWNER

What this means for you Summary

Snapshot

• This is a 2×3bd/1ba + 1×2bd/1ba units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $757 ($9k/yr) — positive. Per door: $252/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 $573k (0.4% below list).
• Recommended offer: $523k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $5,729/mo this rent would consume 112% of the median local household income ($62k/yr) (locally 2528% 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 $17k 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

• It's been on market 96 days — a 9% lower offer ($523k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 16y 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 $405k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $523,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.00% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

• ARV (median comp): $687,505
• List price: $575,000
• Delta: -16.36%
• 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
54 Harrison St	0.35mi	6/3.0	2,971 (-4%)	14mo	$475,000	$160	66
390 Weeden St	0.34mi	6/3.0	2,742 (-11%)	4mo	$611,000	$223	62
360 362 Weeden St	0.31mi	6/3.0	3,414 (+10%)	9mo	$590,000	$173	61
199 Pawtucket Ave	0.48mi	7/3.0 (+1)	2,970 (-4%)	6mo	$620,000	$209	61
86 Magill St	0.45mi	5/3.0 (-1)	3,216 (+4%)	8mo	$515,000	$160	60
230 Pawtucket Ave	0.50mi	6/3.0	2,785 (-10%)	7mo	$660,000	$237	54
7 Brown St	0.35mi	6/3.0	2,656 (-14%)	8mo	$690,000	$260	53
238 Pawtucket Ave	0.51mi	6/3.0	2,839 (-8%)	12mo	$695,000	$245	52
580 Lonsdale Ave	0.68mi	7/3.0 (+1)	2,872 (-7%)	8mo	$560,000	$195	45
534 Lonsdale Ave	0.61mi	5/3.0 (-1)	2,808 (-9%)	8mo	$550,000	$196	44
36 Highland St	0.60mi	6/6.0	3,012 (-3%)	17mo	$625,000	$208	42
412 East Ave	0.63mi	6/3.0	3,484 (+12%)	11mo	$601,500	$173	41

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-42,297
• Equity at exit: $85,734

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $36,345
• Equity at exit: $49,715

Cash invested: $161,000 (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 02860

• Rents YoY: 3.5%
• Active inventory: 123
• Price-to-rent: 24.5×

Monthly cashflow live

• Estimated rent: $5,729 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$514 /mo · $6,171/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,203
• Net cashflow: $757

Break-even live

Break-even rent $4,771

Max offer price $575,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,918
1× unit	2	1	$1,812
Total (3 units)			$5,729

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $575,000 Active 96 DOM
2. 2026-06-17
   days on market $575,000 Active 95 DOM
3. 2026-06-16
   days on market $575,000 Active 94 DOM
4. 2026-06-15
   days on market $575,000 Active 93 DOM
5. 2026-06-13
   days on market $575,000 Active 91 DOM
6. 2026-06-13
   days on market $575,000 Active 90 DOM
7. 2026-06-10
   days on market $575,000 Active 87 DOM
8. 2026-06-05
   days on market $575,000 Active 86 DOM
9. 2026-06-03
   days on market $575,000 Active 85 DOM
10. 2026-06-02
    days on market $575,000 Active 84 DOM
11. 2026-06-01
    days on market $575,000 Active 83 DOM
12. 2026-05-31
    days on market $575,000 Active 82 DOM
13. 2026-03-10
    listed $575,000 Active 698-char remark

    Show marketing remark (698 chars)

    This 3-family on Slater Street is available ONLY for cash buyers or those using a 203K/conventional renovation loan bring your vision and make this gem shine! Conveniently located near I-95 North & South and just minutes from the new train station, this 3-family home offers strong rental potential and versatility. The 2nd and 3rd floor units each feature 3 spacious bedrooms and 1 full bath. The 1st floor unit has had permits pulled and framing work completed currently framed for a 2-bedroom, 1-bath layout and ready for the new owner to finish and customize to their liking. Whether you're looking to owner-occupy or invest, this property offers excellent upside in a growing location.

14. 2026-03-05
    historical
15. 2026-01-05
    listed $575,000 Active
16. 2025-12-31
    historical
17. 2025-06-13
    listed $575,000 Active
18. 2022-08-12
    soldstatus $405,000 Closed
19. 2022-08-12
    soldstatus $405,000
20. 2022-07-10
    status Pending
21. 2022-06-09
    status Active
22. 2022-05-03
    status Pending
23. 2022-04-19
    listed $399,900 Active
24. 2019-10-02
    status Pending
25. 2019-10-01
    historical
26. 2019-08-03
    price $259,900
27. 2019-06-03
    listed $279,900 Active
28. 2013-12-19
    price $109,900
29. 2013-12-19
    price $179,900
30. 2012-06-26
    soldstatus $109,900
31. 2012-04-23
    historical
32. 2012-04-09
    listed $109,900
33. 2012-04-07
    historical
34. 2011-06-29
    listed $119,000
35. 2010-10-26
    historical
36. 2010-06-18
    listed $214,900

ⓘ 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: $6,171 · $514/mo
• Projected year-2 tax: $7,772 · $648/mo
• Expected delta: +$1,601/yr (+$133/mo · 25.9%)

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

Taxation est. · year 1

• Rental income: $68,748
• − Mortgage interest: −$32,209
• − Property taxes: −$6,171
• − Insurance: −$2,875
• − Repairs & maintenance: −$5,500
• − Management: −$5,500
• − Depreciation: −$16,727
• Taxable loss: −$234
• Est. tax savings @ 24.0%: +$56
• After-tax cash flow: $9,137/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

+167.6% since first listed

24 events — show timeline

• 2026-03-10 Listed $575,000 RIS
• 2026-03-05 Listing Removed — RIS
• 2026-01-05 Listed $575,000 RIS
• 2025-12-31 Listing Removed — RIS
• 2025-06-13 Listed $575,000 RIS
• 2022-08-12 Sold (Public Records) $405,000 Public Records
• 2022-08-12 Sold (MLS) $405,000 RIS
• 2022-07-10 Pending — RIS
• 2022-06-09 Relisted — RIS
• 2022-05-03 Pending — RIS
• 2022-04-19 Listed $399,900 RIS
• 2019-10-02 Pending — RIS
• 2019-10-01 Listing Removed — RIS
• 2019-08-03 Price Changed $259,900 RIS
• 2019-06-03 Listed $279,900 RIS
• 2013-12-19 Price Changed $109,900 RIS
• 2013-12-19 Price Changed $179,900 RIS
• 2012-06-26 Sold (MLS) $109,900 RIS
• 2012-04-23 Listing Removed — RIS
• 2012-04-09 Listed $109,900 RIS
• 2012-04-07 Listing Removed — RIS
• 2011-06-29 Listed $119,000 RIS
• 2010-10-26 Listing Removed — RIS
• 2010-06-18 Listed $214,900 RIS

Property tax history

+5.2%/yr

Latest (2025): $6,171 · +6.6% YoY. Source: county tax records.