191 Grove St · Woonsocket, RI 02895

$590,000

8 bd · 4.0 ba · 4,376 sqft · MultiFamily public records · 11 Days on market

Built 1900 3,485 sqft lot $135/sqft · 16% above area Est $651k · 9% 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 +26.0/30.0
• ARV discount +11.7/15.0
• DSCR +8.8/10.0
• 1% rule +6.1/10.0
• Rent growth +4.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric.

Key facts

• 3,485 sq ft lot
• 2 parking spots
• Built 1900

Tags

• TURN-KEY 4 UNIT PROPERTY
• RECENTLY UPGRADED ELECTRICAL
• MAINTENANCE FREE VINYL SIDING
• TONS OF SPACE IN THE ATTIC

Property features AI

Finance

• Financial info: Total above-grade finished area: 5,623; Property has four rental units (investor/multifamily property)

Exterior

• Parking: No garage; Two total parking spaces
• Utilities: Electric service: 100 amps; Sewer: connected; Water: connected
• Home design: Multifamily building with 1 building containing 4 units; Each unit is a two-bedroom layout
• Construction: Vinyl siding
• Exterior features: Sewer connected; Water connected

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Four units each with two bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: Four full bathrooms total (one full bathroom per unit)
• Heating & cooling: Forced-air gas heating
• Interior features: Full unfinished basement with interior entry
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $590k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $369/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $590k).
• Cap rate 9.3% vs local median 3.3% in Woonsocket — 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 65/100 on livability (#24 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, schools D-, amenities F.
• Woonsocket (suburban): math 5% / reading 14% proficiency, ranked #37 of 39 in RI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 163 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $6,576/mo this rent would consume 129% of the median local household income ($61k/yr) (locally 2658% 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 $18k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $165k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 20 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 $440k; 34% 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.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $590,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.11% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.73%
• DSCR: 1.48
• GRM: 7.5

CMA / ARV

• ARV (median comp): $651,384
• List price: $590,000
• Delta: -9.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
190 Crawford St	0.25mi	8/4.0	4,140 (-5%)	3mo	$670,000	$162	77
494 Grove St	0.28mi	8/4.0	4,434 (+1%)	10mo	$625,000	$141	77
40 Paradis Ave	0.09mi	8/3.5	4,172 (-5%)	20mo	$520,000	$125	70
663 Bernon St	0.21mi	8/4.0	4,036 (-8%)	17mo	$530,000	$131	63
17 Morton Ave	0.35mi	9/3.0 (+1)	4,686 (+7%)	19mo	$600,000	$128	47
76 Hamlet Ave	0.24mi	9/4.0 (+1)	4,904 (+12%)	21mo	$675,000	$138	46
120 Daniels St	0.68mi	8/4.0	4,235 (-3%)	22mo	$615,000	$145	45
75 South St	0.66mi	8/3.0	4,897 (+12%)	6mo	$594,000	$121	40
118 Church St	0.50mi	9/3.0 (+1)	4,058 (-7%)	21mo	$570,000	$140	38
84 86 Northeast St	0.58mi	8/4.0	4,969 (+14%)	15mo	$631,100	$127	38
7 Summer St	0.75mi	8/3.0	4,058 (-7%)	20mo	$630,000	$155	32
240 Elm St	0.71mi	9/3.0 (+1)	4,662 (+6%)	22mo	$585,000	$125	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.20×
• Total profit: $33,066
• Equity at exit: $87,971

10-year hold

• IRR: 18.3%
• Equity multiple: 2.86×
• Total profit: $307,566
• Equity at exit: $51,012

Cash invested: $165,200 (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 02895

• Rents YoY: 9.2%
• Active inventory: 163
• Price-to-rent: 29.9×

Monthly cashflow live

• Estimated rent: $6,576 high
• Mortgage (P&I): −$3,094
• Tax from tax record: −$379 /mo · $4,544/yr
• Insurance: −$246
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,381
• Net cashflow: $1,477

Break-even live

Break-even rent $4,707

Max offer price $590,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,576
Total (4 units)			$6,576

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: $147,500
• Closing costs: $17,700
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-05-09
   listed $590,000 Active 372-char remark
2. 2025-12-10
   historical $1,650
3. 2025-12-05
   price $1,650
4. 2025-11-20
   listed $1,695
5. 2025-11-19
   historical $1,695
6. 2025-11-14
   listed $1,695
7. 2022-07-18
   soldstatus $440,000 Closed 203-char remark

   Show marketing remark (203 chars)

   4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric.

8. 2022-06-05
   status Pending 203-char remark

   Show marketing remark (203 chars)

   4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric.

9. 2022-05-25
   listed $419,000 Active 203-char remark

   Show marketing remark (203 chars)

   4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric.

10. 2020-10-20
    historical

    Show marketing remark (519 chars)

    * Estimated Payment $1006 Per Month * 20% Down 30 yrs. 3.5% Apr to those who qualify. * Loan and interest only * Taxes insurance not included * Rates As of 7/24/2020 ________________________________________________________________________________________________________ 4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric. Rents could be much higher.

11. 2020-10-20
    listed Active Under Contract

    Show marketing remark (519 chars)

    * Estimated Payment $1006 Per Month * 20% Down 30 yrs. 3.5% Apr to those who qualify. * Loan and interest only * Taxes insurance not included * Rates As of 7/24/2020 ________________________________________________________________________________________________________ 4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric. Rents could be much higher.

12. 2020-10-16
    soldstatus $285,000 Closed

    Show marketing remark (519 chars)

    * Estimated Payment $1006 Per Month * 20% Down 30 yrs. 3.5% Apr to those who qualify. * Loan and interest only * Taxes insurance not included * Rates As of 7/24/2020 ________________________________________________________________________________________________________ 4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric. Rents could be much higher.

13. 2020-10-16
    soldstatus $285,000 Closed

    Show marketing remark (519 chars)

    * Estimated Payment $1006 Per Month * 20% Down 30 yrs. 3.5% Apr to those who qualify. * Loan and interest only * Taxes insurance not included * Rates As of 7/24/2020 ________________________________________________________________________________________________________ 4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric. Rents could be much higher.

14. 2020-10-16
    soldstatus $285,000

    Show marketing remark (519 chars)

    * Estimated Payment $1006 Per Month * 20% Down 30 yrs. 3.5% Apr to those who qualify. * Loan and interest only * Taxes insurance not included * Rates As of 7/24/2020 ________________________________________________________________________________________________________ 4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric. Rents could be much higher.

15. 2020-08-11
    historical Active Under Contract

    Show marketing remark (519 chars)

    * Estimated Payment $1006 Per Month * 20% Down 30 yrs. 3.5% Apr to those who qualify. * Loan and interest only * Taxes insurance not included * Rates As of 7/24/2020 ________________________________________________________________________________________________________ 4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric. Rents could be much higher.

16. 2020-07-24
    listed $279,900 Active

    Show marketing remark (519 chars)

    * Estimated Payment $1006 Per Month * 20% Down 30 yrs. 3.5% Apr to those who qualify. * Loan and interest only * Taxes insurance not included * Rates As of 7/24/2020 ________________________________________________________________________________________________________ 4 spacious units offering over 1000 square feet and 2/3 beds in each unit. Property is in compliance with Fire safety code. Updated electrical, vinyl siding, newer windows, Tenants pay heat and electric. Rents could be much higher.

17. 2019-08-26
    soldstatus $237,000 Sold
18. 2019-08-26
    soldstatus $237,000
19. 2019-07-13
    status Pending
20. 2019-07-01
    status Active
21. 2019-05-01
    status Pending
22. 2019-04-24
    status Active
23. 2019-04-19
    status Pending
24. 2019-04-16
    listed $249,900 Active
25. 2016-11-08
    price $193,900
26. 2016-11-08
    price $149,900
27. 2016-11-08
    price $319,900
28. 2014-03-25
    historical
29. 2013-12-19
    price $159,900
30. 2013-12-19
    price $49,900
31. 2013-11-02
    listed $180,000 Active
32. 2009-01-12
    soldstatus $108,000
33. 2008-12-02
    soldstatus $55,000
34. 2008-09-24
    historical
35. 2008-05-05
    listed $149,900
36. 2008-04-25
    historical
37. 2007-11-27
    listed $269,900
38. 2007-10-16
    historical
39. 2007-06-18
    listed $225,000
40. 2006-10-04
    historical
41. 2006-04-04
    listed $350,000
42. 2005-11-30
    historical
43. 2005-10-12
    listed $350,000
44. 2004-10-19
    soldstatus $290,000
45. 2004-10-18
    soldstatus $290,000
46. 2004-08-27
    historical
47. 2004-08-04
    listed $295,000
48. 2002-07-24
    soldstatus $164,000
49. 2002-06-05
    soldstatus $164,000
50. 2002-04-22
    listed $165,900

ⓘ 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: $4,544 · $379/mo
• Projected year-2 tax: $7,080 · $590/mo
• Expected delta: +$2,536/yr (+$211/mo · 55.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $78,912
• − Mortgage interest: −$33,049
• − Property taxes: −$4,544
• − Insurance: −$2,950
• − Repairs & maintenance: −$6,313
• − Management: −$6,313
• − Depreciation: −$17,164
• Taxable income: $8,579
• Est. tax owed @ 24.0%: −$2,059
• After-tax cash flow: $15,659/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: Woonsocket
• NCES district ID: 4401200
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $37,757
• Composite: 8.01/100
• National rank: #9923
• State rank: #37 of 39 in RI

Livability — Woonsocket

• Score: 65/100
• State rank: #24
• US rank: #12968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, RI
• County: Providence County · 548,917 people
• City population: 43,521
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 43,521
• Household income: $61,059
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2658.0

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 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 13% Romanian 3% Russian 3%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 17% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -431.80%
• Current HPI: 357.8858
• Rent YoY: ▲ 9.15%
• 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

+496.0% since first listed

60 events — show timeline

• 2026-05-20 Pending — RIS
• 2026-05-09 Listed $590,000 RIS
• 2025-12-10 Rental Removed $1,650 RENTALBEAST
• 2025-12-05 Price Changed $1,650 RENTALBEAST
• 2025-11-20 Listed for Rent $1,695 RENTALBEAST
• 2025-11-19 Rental Removed $1,695 PROPERTYWARE
• 2025-11-14 Listed for Rent $1,695 PROPERTYWARE
• 2022-07-18 Sold (MLS) $440,000 RIS
• 2022-06-05 Pending — RIS
• 2022-05-25 Listed $419,000 RIS
• 2020-10-20 Listing Removed — RIS
• 2020-10-20 Listed — RIS
• 2020-10-16 Sold (Public Records) $285,000 Public Records
• 2020-10-16 Sold (MLS) $285,000 RIS
• 2020-10-16 Sold (MLS) $285,000 RIS
• 2020-08-11 Contingent — RIS
• 2020-07-24 Listed $279,900 RIS
• 2019-08-26 Sold (Public Records) $237,000 Public Records
• 2019-08-26 Sold (MLS) $237,000 RIS
• 2019-07-13 Pending — RIS
• 2019-07-01 Relisted — RIS
• 2019-05-01 Pending — RIS
• 2019-04-24 Relisted — RIS
• 2019-04-19 Pending — RIS
• 2019-04-16 Listed $249,900 RIS
• 2016-11-08 Price Changed $319,900 RIS
• 2016-11-08 Price Changed $149,900 RIS
• 2016-11-08 Price Changed $193,900 RIS
• 2014-03-25 Listing Removed — RIS
• 2013-12-19 Price Changed $159,900 RIS
• 2013-12-19 Price Changed $49,900 RIS
• 2013-11-02 Listed $180,000 RIS
• 2009-01-12 Sold (Public Records) $108,000 Public Records
• 2008-12-02 Sold (MLS) $55,000 RIS
• 2008-09-24 Listing Removed — RIS
• 2008-05-05 Listed $149,900 RIS
• 2008-04-25 Listing Removed — RIS
• 2007-11-27 Listed $269,900 RIS
• 2007-10-16 Listing Removed — RIS
• 2007-06-18 Listed $225,000 RIS
• 2006-10-04 Listing Removed — RIS
• 2006-04-04 Listed $350,000 RIS
• 2005-11-30 Listing Removed — RIS
• 2005-10-12 Listed $350,000 RIS
• 2004-10-19 Sold (Public Records) $290,000 Public Records
• 2004-10-18 Sold (MLS) $290,000 RIS
• 2004-08-27 Listing Removed — RIS
• 2004-08-04 Listed $295,000 RIS
• 2002-07-24 Sold (MLS) $164,000 RIS
• 2002-06-05 Sold (Public Records) $164,000 Public Records
• 2002-04-22 Listed $165,900 RIS
• 2000-04-27 Sold (Public Records) $115,000 Public Records
• 2000-04-27 Sold (MLS) $115,000 RIS
• 2000-04-26 Listing Removed — RIS
• 2000-03-16 Listed $118,500 RIS
• 1999-02-26 Sold (MLS) $39,000 RIS
• 1998-11-03 Listing Removed — RIS
• 1998-08-18 Listed $49,900 RIS
• 1997-09-26 Listing Removed — RIS
• 1997-03-26 Listed $99,000 RIS

Property tax history

+0.2%/yr

Latest (2025): $4,544 · +1.6% YoY. Source: county tax records.