118 Dunns Corner Rd · Westerly, RI 02891

$54,900

1 bd · 1.0 ba · 459 sqft · Other · 267 Days on market

Built 2010 $120/sqft · 66% below area $700/mo HOA · 39% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your perfect seasonal ( May1-Oct. 31) getaway located at Timber Creek RV Resort in beautiful Westerly RI. This 2006 Trophy Park Model has a double loft and attached durabuilt porch with air conditioning and 2 decks. Location can’t be beat; only 2 miles from the beach, a short drive to downtown Westerly for dining and shopping and 20 minutes to the Casino. At Timber Creek Resort, you will find a welcoming community with lots of amenities including; 2 swimming pools, golf, tennis/pickleball, a fishing pond, numerous community events, dinners and live concerts. Recent home updates include on-demand hot water heating system(2024) and full size refrigerator ( 2025) seasonal fee applies.

Key facts

• Sunroom
• Two decks
• Back deck

Tags

• SUNROOM
• TWO DECKS
• BACK DECK
• RESORT-LIKE AMENITIES
• TWO POOLS
• BASEBALL FIELD

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 1.8% in Westerly — 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 74/100 on livability (#10 in RI, #4,529 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: cost of living D+, amenities F, commute F.
• Westerly (suburban): math 19% / reading 39% proficiency, ranked #21 of 39 in RI (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+11.7%/yr); 110 active listings in the ZIP; solid renter incomes; 311 units permitted in Washington County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 267 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 7y ago; this cycle's ask has dropped $28k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 267 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.25% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.69%
• DSCR: 2.14
• GRM: 2.6

CMA / ARV

• ARV (median comp): $163,548
• List price: $54,900
• Delta: -66.43%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 2.43×
• Total profit: $21,945
• Equity at exit: $8,186

10-year hold

• IRR: 42.2%
• Equity multiple: 6.91×
• Total profit: $90,844
• Equity at exit: $4,747

Cash invested: $15,372 (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 02891

• Home prices YoY: -28.2%
• Rents YoY: 11.7%
• Active inventory: 110
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,783 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$700
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $329

Break-even live

Break-even rent $1,366

Max offer price $54,900

Occupancy floor 77%

Sensitivity live

Price	-10% $367	-5% $348	+0% $329	+5% $310	+10% $291
Rent	-10% $188	-5% $259	+0% $329	+5% $400	+10% $470
Rate	-1.0pp $357	-0.5pp $343	base $329	+0.5pp $315	+1.0pp $300

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $700 · $8,400/yr
• Likely covers: waterpool

Listing history 46 events

1. 2026-06-18
   days on market $54,900 Active 267 DOM
2. 2026-06-17
   price $54,900 Active 266 DOM
3. 2026-06-17
   days on market $59,900 Active 266 DOM
4. 2026-06-16
   days on market $59,900 Active 265 DOM
5. 2026-06-15
   days on market $59,900 Active 264 DOM
6. 2026-06-13
   days on market $59,900 Active 262 DOM
7. 2026-06-13
   days on market $59,900 Active 261 DOM
8. 2026-06-09
   days on market $59,900 Active 258 DOM
9. 2026-06-08
   days on market $59,900 Active 257 DOM
10. 2026-06-07
    days on market $59,900 Active 256 DOM
11. 2026-06-05
    days on market $59,900 Active 253 DOM
12. 2026-06-03
    days on market $59,900 Active 252 DOM
13. 2026-06-02
    days on market $59,900 Active 251 DOM
14. 2026-06-01
    days on market $59,900 Active 250 DOM
15. 2026-05-31
    days on market $59,900 Active 249 DOM
16. 2026-05-13
    status Under Contract 723-char remark

    Show marketing remark (723 chars)

    Welcome to your perfect seasonal ( May1-Oct. 31) getaway located at Timber Creek RV Resort in beautiful Westerly RI. This 2006 Trophy Park Model has a double loft and attached durabuilt porch with air conditioning and 2 decks. Location can’t be beat; only 2 miles from the beach, a short drive to downtown Westerly for dining and shopping and 20 minutes to the Casino. At Timber Creek Resort, you will find a welcoming community with lots of amenities including; 2 swimming pools, golf, tennis/pickleball, a fishing pond, numerous community events, dinners and live concerts. Recent home updates include on-demand hot water heating system(2024) and full size refrigerator ( 2025) seasonal fee applies.

17. 2026-05-12
    listed $83,000 Active 723-char remark

    Show marketing remark (723 chars)

    Welcome to your perfect seasonal ( May1-Oct. 31) getaway located at Timber Creek RV Resort in beautiful Westerly RI. This 2006 Trophy Park Model has a double loft and attached durabuilt porch with air conditioning and 2 decks. Location can’t be beat; only 2 miles from the beach, a short drive to downtown Westerly for dining and shopping and 20 minutes to the Casino. At Timber Creek Resort, you will find a welcoming community with lots of amenities including; 2 swimming pools, golf, tennis/pickleball, a fishing pond, numerous community events, dinners and live concerts. Recent home updates include on-demand hot water heating system(2024) and full size refrigerator ( 2025) seasonal fee applies.

18. 2025-09-23
    listed $59,900 Active 1314-char remark

    Show marketing remark (1314 chars)

    Escape to Timber Creek, a serene seasonal park nestled in the woods, yet just minutes from the area's best restaurants, shops, and stunning beaches! This updated mobile home offers the perfect blend of comfort and charm, featuring an inviting 8' x 23' sunroom that floods the space with natural light and serves as the heart of the home. The open kitchen, living, and dining area creates a warm and functional layout, while the one-bedroom and full bathroom with shower provide everything you need for easy living. Step outside and enjoy not one, but two cozy decks including a back deck thoughtfully built around a tree, offering shade and a unique connection to nature. It's the ideal spot to relax with morning coffee or unwind after a day at the beach. Timber Creek is known for its resort-like amenities designed for all ages and interests. Spend your days swimming in the two sparkling pools, playing on the baseball field, tennis courts, or playground, or practicing your swing on the 9-hole golf course. Bocce ball, shuffleboard, a dog park, and two scenic ponds add to the community's charm. Whether you're seeking a fun-filled summer retreat or a peaceful getaway, this home makes a wonderful beach escape. Don't miss your chance to own a piece of paradise in Timber Creek! Seasonal Park on leased land.

19. 2025-09-19
    soldstatus $98,548 Closed
20. 2025-09-12
    soldstatus $112,500 Closed
21. 2025-09-08
    status Pending
22. 2025-09-05
    status Pending
23. 2025-08-25
    price $117,500
24. 2025-08-13
    historical
25. 2025-08-04
    historical
26. 2025-07-31
    listed $123,500 Active
27. 2025-06-28
    historical
28. 2025-06-25
    price $119,900
29. 2025-06-25
    listed $124,900 Active
30. 2025-06-17
    listed $100,000 Active
31. 2025-06-17
    listed $97,900 Active
32. 2025-05-20
    listed $84,900 Active
33. 2022-08-15
    soldstatus $74,000 Closed
34. 2022-07-08
    status Pending
35. 2022-07-06
    listed $79,000 Active
36. 2021-08-13
    soldstatus $85,000 Closed
37. 2021-06-24
    status Pending
38. 2021-06-17
    listed $47,500 Active
39. 2019-07-19
    soldstatus $36,250 Sold
40. 2019-07-18
    status Pending
41. 2019-07-11
    historical Under Contract: Inspection Period
42. 2019-07-01
    price $39,000
43. 2019-06-21
    status Active
44. 2019-06-14
    historical Under Contract: Inspection Period
45. 2019-05-21
    listed $41,500 Active
46. 2018-11-20
    soldstatus $5,400,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌡 Heat 6/10 Major
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,395
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − HOA: −$8,400
• − Depreciation: −$1,597
• Taxable income: $3,802
• Est. tax owed @ 24.0%: −$912
• After-tax cash flow: $3,037/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: Westerly
• NCES district ID: 4401170
• Math proficiency: 19% ▼ -19.00%
• Reading proficiency: 39% ▼ -13.00%
• Median HH income: $60,021
• Composite: 26.25/100
• National rank: #7257
• State rank: #21 of 39 in RI

Livability — Westerly

• Score: 74/100
• State rank: #10
• US rank: #4529

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westerly, RI
• County: Washington County · 79,886 people
• City population: 21,587
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 21,587
• Household income: $97,110
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 577.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 123,856 people
• By 2030: 121,962 · -1.5%
• By 2040: 115,902 · -6.4%
• By 2050: 107,078 · -13.5%
• By 2075: 92,575 · -25.3%
• By 2100: 77,407 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Lithuanian 5% Romanian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 2% Chinese 2% Other Indo-European 1%

Political lean MEDSL · Washington

• 2024 margin: D (+15.0) · D 56.4% · R 41.4% · Other 2.3%
• 2008→2024 swing: -24.3pp toward R · 2008: 39.3pp · 2024: 15.0pp
• All cycles: 2024: D+15.0 2020: D+19.4 2016: D+10.0 2012: D+16.8 2008: D+39.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -145.15%
• Current HPI: 369.8844
• Rent YoY: ▲ 11.73%
• 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

-98.5% since first listed

31 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $83,000 FSBO.com
• 2025-09-23 Listed $59,900 RIS
• 2025-09-19 Sold (MLS) $98,548 RIS
• 2025-09-12 Sold (MLS) $112,500 RIS
• 2025-09-08 Pending — RIS
• 2025-09-05 Pending — RIS
• 2025-08-25 Price Changed $117,500 RIS
• 2025-08-13 Listing Removed — RIS
• 2025-08-04 Listing Removed — RIS
• 2025-07-31 Listed $123,500 RIS
• 2025-06-28 Listing Removed — RIS
• 2025-06-25 Price Changed $119,900 RIS
• 2025-06-25 Listed $124,900 RIS
• 2025-06-17 Listed $97,900 RIS
• 2025-06-17 Listed $100,000 RIS
• 2025-05-20 Listed $84,900 RIS
• 2022-08-15 Sold (MLS) $74,000 RIS
• 2022-07-08 Pending — RIS
• 2022-07-06 Listed $79,000 RIS
• 2021-08-13 Sold (MLS) $85,000 RIS
• 2021-06-24 Pending — RIS
• 2021-06-17 Listed $47,500 RIS
• 2019-07-19 Sold (MLS) $36,250 RIS
• 2019-07-18 Pending — RIS
• 2019-07-11 Contingent — RIS
• 2019-07-01 Price Changed $39,000 RIS
• 2019-06-21 Relisted — RIS
• 2019-06-14 Contingent — RIS
• 2019-05-21 Listed $41,500 RIS
• 2018-11-20 Sold (Public Records) $5,400,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $46,918 · -17.6% YoY. Source: county tax records.