27 Woodward Road, 40 · Lincoln, RI 02865

$90,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 4 Days on market

Built 2009 $630/mo HOA · 35% of rent

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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 +23.8/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER MOTIVATED! 5yr old mobile home in turnkey condition. 2brs, 1 bath, central A/C, and in-unit laundry. Wall to wall carpeting, eat in kitchen and features hot air gas heat. Water and sewer are included in fee. A great living alternative.

Key facts

• Oversized deck
• Natural light
• Updated tile shower

Tags

• NATURAL LIGHT
• OVERSIZED DECK
• OPEN AREA KITCHEN
• MODERN BLACK CABINETS
• UPDATED TILE SHOWER
• NEWER SIDE DECK

Property features AI

Finance

• HOA & community: Monthly association fee of $570; Community amenities include golf, pool, tennis courts, recreation area, public transportation, shopping, restaurants, highway access, near hospital and schools; Senior community

Exterior

• Parking: No garage; One parking space (total)
• Utilities: 100 amp electrical service with circuit breakers and separate meters; Septic tank; Public water connected (water tap fee)
• Home design: Single-story home; Entry level: first floor
• Construction: Drywall and vinyl siding; Slab foundation
• Exterior features: Deck; Paved driveway; Private, paved, and secluded lot

Interior

• Kitchen: Dishwasher; Oven; Range; Range hood; Water heater
• Bedrooms: One bedroom on the first level
• Flooring: Ceramic tile; Hardwood; Laminate
• Bathrooms: One full bathroom on the first level
• Heating & cooling: Forced air heating (propane); Central air conditioning
• Interior features: Thermal windows; Storm door(s); Accessibility features; Stall shower; Cable TV

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lincoln (suburban): math 38% / reading 48% proficiency, ranked #13 of 39 in RI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 93 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $35k; list at $90k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.00% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-3,109
• Equity at exit: $13,419

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $13,212
• Equity at exit: $7,782

Cash invested: $25,200 (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 02865

• Active inventory: 93
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$109 /mo · $1,306/yr
• Insurance: −$38
• HOA: −$630
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $174

Break-even live

Break-even rent $1,580

Max offer price $90,000

Occupancy floor 85%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
866 Weeden St Pawtucket, RI	2.0	1.0	725	$1,800	$2.48	43d	1	1.11mi

HOA detail

• Monthly dues: $630 · $7,560/yr
• Likely covers: watersewergas

Listing history 5 events

1. 2026-06-18
   days on market $90,000 Active 4 DOM
2. 2026-06-17
   days on market $90,000 Active 3 DOM
3. 2026-06-16
   days on market $90,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $90,000 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: $1,306 · $109/mo
• Projected year-2 tax: $1,386 · $116/mo
• Expected delta: +$80/yr (+$7/mo · 6.2%)

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $21,600
• − Mortgage interest: −$5,041
• − Property taxes: −$1,306
• − Insurance: −$450
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − HOA: −$7,560
• − Depreciation: −$2,618
• Taxable income: $1,168
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $1,804/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: Lincoln
• NCES district ID: 4400570
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $69,500
• Composite: 38.81/100
• National rank: #4115
• State rank: #13 of 39 in RI

Livability — Lincoln

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 18,033

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 (82%)
• Race & ethnicity: White 82% Two or more races 9% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 11% Russian 7% Romanian 4%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 84% English-only · Other Indo-European 7% Spanish 3% Chinese 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: ▼ -332.01%
• Current HPI: 325.7543
• Rent YoY: —
• Metro: —
• 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

+125.6% since first listed

5 events — show timeline

• 2026-06-14 Listed $90,000 RIS
• 2014-01-22 Sold (Public Records) $35,000 Public Records
• 2014-01-21 Sold (MLS) $35,000 RIS
• 2014-01-07 Pending — RIS
• 2013-11-02 Listed $39,900 RIS

Property tax history

+2.0%/yr

Latest (2025): $1,306 · +63.7% YoY. Source: county tax records.