220 Shawmut Ave · Central Falls, RI 02863

$389,900

4 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 8 Days on market

Built 1956 5,000 sqft lot Est $313k · 25% over

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Why this score? — see what drove the F 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).

• Appreciation +7.3/10.0
• Cash flow +5.8/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• Schools +0.4/10.0
• DSCR +0.2/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Fall in love with this beautifully maintained cape cod style home. Bedrooms 1 and 2 offer hardwood flooring and spacious closets and are on the first level along with the full bath for those who enjoy one level living. Bedrooms 3 and 4 also with hardwood flooring and spacious closets are on the second level offering plenty of natural lighting. The living room offers beautiful hardwood floors and a bay window which is light and bright and is open to the eat in kitchen.Off the eat in kitchen you will find a nice deck and a fenced in yard for your children or pets. The basement is spacious with a bulkhead to the back yard. A new hot water tank ,gas heating system & new electric were installed in 2018-2020.

Key facts

• Cape cod style home
• Newer gas boiler
• Eat-in kitchen

Tags

• CAPE COD STYLE HOME
• HARDWOOD FLOORS
• LARGE BAY WINDOW
• EAT-IN KITCHEN
• NEWER GAS BOILER
• NEWER GAS WATER HEATER

Property features AI

Finance

• HOA & community: Highway access; Near hospital; Near schools; Restaurants nearby; Sidewalks

Exterior

• Parking: No garage; Two off-street parking spaces
• Utilities: 100 amp electric service; Public water; Public sewer
• Home design: Two-story home; R1 zoning
• Construction: Vinyl siding; Drywall interior; Concrete perimeter foundation; Below-grade finished space; Above-grade finished space
• Exterior features: Paved driveway; Fenced yard

Interior

• Kitchen: Eat-in kitchen; Microwave; Oven; Range; Refrigerator; Exhaust fan
• Bedrooms: Primary bedroom on the first floor; Additional bedroom on the first floor; Two bedrooms on the second floor
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Gas heating; Solar-assisted heating
• Interior features: Storm door(s); Attic; Bathtub; Tub with shower; Storage
• Laundry & utility: Lower-level laundry room; Lower-level utility room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $-777 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (35.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (41.7% below list).
• Recommended offer: $227k (41.7% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 5.1% in Central Falls — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 66/100 on livability (#21 in RI) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing B; Watch: amenities F, commute F, employment F.
• Central Falls (suburban): math 2% / reading 8% proficiency, ranked #38 of 39 in RI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ella Risk School (math 2% / reading 12%, grade F, #158 of 167 statewide, top 97%, 430 students, 94% FRL); Calcutt Middle School (math 0% / reading 6%, grade F, #56 of 57 statewide, top 98%, 511 students, 97% FRL); Central Falls Sr High (math 2% / reading 12%, grade F, #53 of 58 statewide, top 96%, 811 students, 97% FRL) — zoned schools average 96% FRL vs 78% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $2,272/mo this rent would consume 55% of the median local household income ($49k/yr) (locally 1380% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $21k of equity ($3k loan paydown + $18k appreciation (4.6% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% 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 $227,164 (41.7% 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 1956 — 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: 0.58% ✗
• Cap rate: 3.90%
• Cash-on-cash: -8.54%
• DSCR: 0.62
• GRM: 14.3

CMA / ARV

• ARV (on-the-fly): $313,040
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Barber Ave	0.65mi	4/2.0	931 (-10%)	6mo	$280,000	$301	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.28×
• Total profit: $30,960
• Equity at exit: $210,950

10-year hold

• IRR: 7.2%
• Equity multiple: 2.29×
• Total profit: $141,020
• Equity at exit: $356,058

Cash invested: $109,172 (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 02863

• Home prices YoY: 1.2%
• Active inventory: 32
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,272 high
• Mortgage (P&I): −$2,045
• Tax from tax record: −$364 /mo · $4,369/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-777

Break-even live

Break-even rent $3,255

Max offer price $252,706

Occupancy floor —

Sensitivity live

Price	-10% $-556	-5% $-666	+0% $-777	+5% $-887	+10% $-997
Rent	-10% $-956	-5% $-866	+0% $-777	+5% $-687	+10% $-597
Rate	-1.0pp $-580	-0.5pp $-677	base $-777	+0.5pp $-878	+1.0pp $-980

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
96 Shawmut Ave Unit 98 Central Falls, RI	4.0	1.5	1398	$2,700	$1.93	21d	1	0.20mi
16 Binford St Unit 1 Central Falls, RI	3.0	1.0	1134	$2,200	$1.94	5d	1	0.31mi
14 Courtland St Unit 2 Central Falls, RI	3.0	1.0	1240	$1,850	$1.49	12d	1	0.78mi
14 Courtland St Unit 3 Central Falls, RI	4.0	1.0	1240	$1,950	$1.57	12d	1	0.78mi
14 Carpenter St Unit 1 Cumberland, RI	4.0	1.0	1467	$2,850	$1.94	3d	1	0.90mi
63 W Carpenter St Unit 2F Attleboro, MA	3.0	1.0	1000	$2,500	$2.50	3d	1	1.09mi
34 Hancock St Unit 1 Pawtucket, RI	3.0	1.0	1192	$1,700	$1.43	19d	1	1.15mi
65 Cole St Unit 2 Pawtucket, RI	3.0	1.0	1000	$1,800	$1.80	6d	1	1.20mi
71 Daniels St Unit 3rd floor Pawtucket, RI	4.0	1.0	1200	$2,400	$2.00	45d	1	1.29mi
56 Greene St Unit 2 Pawtucket, RI	3.0	1.0	1200	$2,200	$1.83	45d	1	1.32mi
8 Bagley St Unit 2 Pawtucket, RI	3.0	1.0	1173	$1,975	$1.68	25d	1	1.33mi
19 Barney Ave Unit 1 Pawtucket, RI	3.0	1.0	1000	$1,950	$1.95	45d	1	1.40mi
41 Benefit St Pawtucket, RI	3.0	1.0	1100	$2,000	$1.82	18d	1	1.43mi
41 Benefit St Unit 2 Pawtucket, RI	3.0	1.0	1100	$2,100	$1.91	45d	1	1.43mi
94 Lonsdale Ave Unit 2 Pawtucket, RI	3.0	1.0	1180	$1,425	$1.21	16d	1	1.46mi
495 Broad St Unit 2 Cumberland, RI	3.0	1.0	1000	$1,850	$1.85	45d	1	1.47mi
134 Dexter St Unit 2 Cumberland, RI	3.0	1.0	1200	$2,500	$2.08	45d	1	1.49mi
171 N Bend St Unit 1 Pawtucket, RI	3.0	2.0	1352	$2,450	$1.81	3d	1	1.50mi

Listing history 13 events

1. 2026-04-29
   status Pending
2. 2026-04-21
   listed $389,900 Active
3. 2024-06-10
   soldstatus $365,000
4. 2024-06-08
   soldstatus $365,000 Sold 716-char remark

   Show marketing remark (716 chars)

   Fall in love with this beautifully maintained cape cod style home. Bedrooms 1 and 2 offer hardwood flooring and spacious closets and are on the first level along with the full bath for those who enjoy one level living. Bedrooms 3 and 4 also with hardwood flooring and spacious closets are on the second level offering plenty of natural lighting. The living room offers beautiful hardwood floors and a bay window which is light and bright and is open to the eat in kitchen.Off the eat in kitchen you will find a nice deck and a fenced in yard for your children or pets. The basement is spacious with a bulkhead to the back yard. A new hot water tank ,gas heating system & new electric were installed in 2018-2020.

5. 2024-06-07
   soldstatus $365,000 Closed 715-char remark

   Show marketing remark (715 chars)

   Fall in love with this beautifully maintained cape cod style home. Bedrooms 1 and 2 offer hardwood flooring and spacious closets and are on the first level along with the full bath for those who enjoy one level living. Bedrooms 3 and 4 also with hardwood flooring and spacious closets are on the second level offering plenty of natural lighting. The living room offers beautiful hardwood floors and a bay window which is light and bright and is open to the eat in kitchen. Off the eat in kitchen you will find a nice deck and a fenced in yard for your children or pets. The basement is spacious with a bulkhead to the back yard. A new hot water tank, gas heating system and new electric were installed in 2018-2020.

6. 2024-04-28
   status Under Agreement 716-char remark

   Show marketing remark (715 chars)

   Fall in love with this beautifully maintained cape cod style home. Bedrooms 1 and 2 offer hardwood flooring and spacious closets and are on the first level along with the full bath for those who enjoy one level living. Bedrooms 3 and 4 also with hardwood flooring and spacious closets are on the second level offering plenty of natural lighting. The living room offers beautiful hardwood floors and a bay window which is light and bright and is open to the eat in kitchen. Off the eat in kitchen you will find a nice deck and a fenced in yard for your children or pets. The basement is spacious with a bulkhead to the back yard. A new hot water tank, gas heating system and new electric were installed in 2018-2020.

7. 2024-04-28
   status Pending 715-char remark

   Show marketing remark (715 chars)

   Fall in love with this beautifully maintained cape cod style home. Bedrooms 1 and 2 offer hardwood flooring and spacious closets and are on the first level along with the full bath for those who enjoy one level living. Bedrooms 3 and 4 also with hardwood flooring and spacious closets are on the second level offering plenty of natural lighting. The living room offers beautiful hardwood floors and a bay window which is light and bright and is open to the eat in kitchen. Off the eat in kitchen you will find a nice deck and a fenced in yard for your children or pets. The basement is spacious with a bulkhead to the back yard. A new hot water tank, gas heating system and new electric were installed in 2018-2020.

8. 2024-04-20
   listed $358,000 New 716-char remark

   Show marketing remark (715 chars)

   Fall in love with this beautifully maintained cape cod style home. Bedrooms 1 and 2 offer hardwood flooring and spacious closets and are on the first level along with the full bath for those who enjoy one level living. Bedrooms 3 and 4 also with hardwood flooring and spacious closets are on the second level offering plenty of natural lighting. The living room offers beautiful hardwood floors and a bay window which is light and bright and is open to the eat in kitchen. Off the eat in kitchen you will find a nice deck and a fenced in yard for your children or pets. The basement is spacious with a bulkhead to the back yard. A new hot water tank, gas heating system and new electric were installed in 2018-2020.

9. 2024-04-20
   listed $358,000 Active 715-char remark

   Show marketing remark (715 chars)

   Fall in love with this beautifully maintained cape cod style home. Bedrooms 1 and 2 offer hardwood flooring and spacious closets and are on the first level along with the full bath for those who enjoy one level living. Bedrooms 3 and 4 also with hardwood flooring and spacious closets are on the second level offering plenty of natural lighting. The living room offers beautiful hardwood floors and a bay window which is light and bright and is open to the eat in kitchen. Off the eat in kitchen you will find a nice deck and a fenced in yard for your children or pets. The basement is spacious with a bulkhead to the back yard. A new hot water tank, gas heating system and new electric were installed in 2018-2020.

10. 2018-06-12
    soldstatus $159,900 Sold
11. 2018-06-11
    soldstatus $160,000
12. 2018-05-04
    listed $159,900 Active
13. 2018-05-04
    status Pending

ⓘ 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: $4,369 · $364/mo
• Projected year-2 tax: $5,362 · $447/mo
• Expected delta: +$993/yr (+$83/mo · 22.7%)

ⓘ 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 6/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $27,260
• − Mortgage interest: −$21,840
• − Property taxes: −$4,369
• − Insurance: −$1,950
• − Repairs & maintenance: −$2,181
• − Management: −$2,181
• − Depreciation: −$11,343
• Taxable loss: −$16,603
• Est. tax savings @ 24.0%: +$3,985
• After-tax cash flow: $-5,335/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: Central Falls
• NCES district ID: 4400120
• Math proficiency: 2% ▼ -6.00%
• Reading proficiency: 8% ▼ -5.00%
• Median HH income: $30,478
• Composite: 3.59/100
• National rank: #10071
• State rank: #38 of 39 in RI

Livability — Central Falls

• Score: 66/100
• State rank: #21
• US rank: #11321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central Falls, RI
• County: Providence County · 548,917 people
• City population: 22,701
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 22,701
• Household income: $49,285
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 1380.0

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: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 29% White 16% Black 8%
• Hispanic origin (detail): Mexican 6% Puerto Rican 15% Dominican 7%
• Common ancestry: Lithuanian 4% Russian 4% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 29% English-only · Spanish 62% Other Indo-European 5% French/Haitian/Cajun 3%

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: ▲ 4.58%
• Current HPI: 373.2598
• Rent YoY: —
• 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

+143.8% since first listed

13 events — show timeline

• 2026-04-29 Pending — RIS
• 2026-04-21 Listed $389,900 RIS
• 2024-06-10 Sold (Public Records) $365,000 Public Records
• 2024-06-08 Sold (MLS) $365,000 MLS PIN
• 2024-06-07 Sold (MLS) $365,000 RIS
• 2024-04-28 Pending — MLS PIN
• 2024-04-28 Pending — RIS
• 2024-04-20 Listed $358,000 RIS
• 2024-04-20 Listed $358,000 MLS PIN
• 2018-06-12 Sold (MLS) $159,900 RIS
• 2018-06-11 Sold (Public Records) $160,000 Public Records
• 2018-05-04 Listed $159,900 RIS
• 2018-05-04 Pending — RIS

Property tax history

+4.4%/yr

Latest (2025): $4,369 · -1.0% YoY. Source: county tax records.