148 High Service Avenue Ave · Providence, RI 02911

$4,500

3 bd · 2.5 ba · 1,672 sqft · SingleFamily public records · 4 Days on market

Built 1935

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

Key facts

• Brick fireplace
• Remodeled kitchen
• Finished lower level

Tags

• REMODELED KITCHEN
• BRICK FIREPLACE
• OVERSIZED LIVING ROOM
• FINISHED LOWER LEVEL

Property features AI

Finance

• HOA & community: Community amenities nearby: pool, tennis courts, shopping, public transportation, near hospital and schools

Exterior

• Parking: Attached garage (2 garage spaces); Total parking for 6 vehicles; 2 covered parking spaces
• Utilities: 200+ amp electrical service; Public water; Public sewer
• Home design: 2 stories; Combination stone foundation
• Construction: Brick and drywall construction; Built with combination/stone foundation
• Exterior features: Paved driveway

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Range hood; Refrigerator; Disposal; Exhaust fan
• Bedrooms: Room types include bedroom spaces (listed rooms: Bathroom, Game Room, Gym, Laundry, Living Room, Media Room, Office)
• Flooring: Ceramic tile; Hardwood; Laminate; Marble
• Bathrooms: 3 full bathrooms
• Heating & cooling: Gas heating; Hot water heating; Central air conditioning
• Interior features: Furnished; Attic; Finished walk-out basement
• Laundry & utility: Washer; Dryer; Gas water heater

🏷️ Possibly a rental listed for sale. The $4,500 price doesn't fit this home's estimated sale value (~$444,752) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $4k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $4k).
• Cap rate 545.4% vs local median 4.2% in Providence — 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 84/100 on livability (#2 in RI, #794 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, schools F.
• North Providence (suburban): math 20% / reading 37% proficiency, ranked #22 of 39 in RI (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.1%/yr); 74 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 35% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $31 of loan paydown is wiped out by about $135 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 + 2.1% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 31y 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 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $4,500

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 57.74% ✓
• Cap rate: 545.41%
• Cash-on-cash: 1925.41%
• DSCR: 86.67
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $444,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Homewood Ave	0.25mi	3/2.0	1,749 (+5%)	0mo	$455,000	$260	78
41 Lookout Ave	0.24mi	3/2.0	1,750 (+5%)	2mo	$465,000	$266	77
7 Plymouth Rd	0.55mi	3/2.0	1,684 (+1%)	0mo	$415,000	$246	71
62 Peckham Ave	0.27mi	3/2.0	1,500 (-10%)	0mo	$455,000	$303	68
79 Barret Ave	0.50mi	3/3.0	1,700 (+2%)	6mo	$500,000	$294	67
1625 Smith St	0.47mi	3/1.5	1,605 (-4%)	2mo	$452,000	$282	66
69 Cushing St	0.50mi	2/2.0 (-1)	1,660 (-1%)	5mo	$437,500	$264	64
57 Peckham Ave	0.29mi	3/1.5	1,466 (-12%)	0mo	$440,000	$300	61
25 Pensaukee Ave	0.56mi	3/1.0	1,788 (+7%)	0mo	$496,000	$277	56
29 Justice St	0.62mi	3/2.0	1,525 (-9%)	3mo	$390,000	$256	52
2 Simpson St	0.72mi	3/1.0	1,588 (-5%)	1mo	$377,000	$237	51
49 Sampson Ave	0.62mi	3/1.5	1,848 (+10%)	0mo	$490,000	$265	49

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 · 2.14% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 100.88×
• Total profit: $125,843
• Equity at exit: $671

10-year hold

• IRR: —
• Equity multiple: 212.55×
• Total profit: $266,552
• Equity at exit: $389

Cash invested: $1,260 (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 02911

• Rents YoY: 2.1%
• Active inventory: 74
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,598 high
• Mortgage (P&I): −$24
• Tax est. 1.5%: −$6 /mo · $68/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $2,022

Break-even live

Break-even rent $39

Max offer price $4,500

Occupancy floor 17%

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: $1,125
• Closing costs: $135
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 Beach St North Providence, RI	3.0	1.0	1366	$3,000	$2.20	1d	1	0.47mi
528 Smithfield Rd North Providence, RI	1.0–2.0	1.0–2.0	900	$2,395	$2.66	1d	1	0.65mi
1189 Smith St Providence, RI	3.0	1.5	1112	$2,400	$2.16	23d	1	0.69mi
788 Academy Ave Unit 1 Providence, RI	2.0	1.0	1100	$2,400	$2.18	23d	1	0.80mi
788 Academy Ave Unit 2 Providence, RI	3.0	1.0	1100	$2,500	$2.27	23d	1	0.80mi
729 Academy Ave Providence, RI	3.0	1.0	1261	$2,395	$1.90	17d	1	0.91mi
711 Academy Ave Unit 2 Providence, RI	3.0	1.0	1565	$2,400	$1.53	4d	1	0.94mi
15 S Locust Ave Unit 1 North Providence, RI	3.0	2.0	1288	$2,800	$2.17	1d	1	0.96mi
15 S Locust Ave Unit 1 North Providence, RI	3.0	2.0	1288	$2,800	$2.17	10d	1	0.96mi
5 Emanuel St North Providence, RI	3.0	2.0	2100	$2,800	$1.33	43d	1	1.12mi
23 Concannon St Providence, RI	3.0	2.0	1484	$2,700	$1.82	23d	1	1.14mi
1965 Smith St Unit 2R North Providence, RI	3.0	1.0	1200	$2,700	$2.25	1d	1	1.26mi
1965 Smith St North Providence, RI	3.0	1.0	1200	$2,700	$2.25	1d	1	1.27mi
90 Rowley St Providence, RI	3.0	1.5	1352	$3,500	$2.59	1d	1	1.27mi

Listing history 17 events

1. 2026-05-23
   listed $4,500 Active
2. 2013-12-19
   price $199,000 224-char remark

   Show marketing remark (224 chars)

   CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

3. 2013-12-19
   price $229,900

   Show marketing remark (224 chars)

   CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

4. 2013-12-19
   price $245,000

   Show marketing remark (224 chars)

   CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

5. 2012-12-31
   soldstatus $157,336 224-char remark

   Show marketing remark (224 chars)

   CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

6. 2012-12-28
   soldstatus $157,336
7. 2012-11-13
   historical 224-char remark

   Show marketing remark (224 chars)

   CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

8. 2011-12-16
   listed $227,000 224-char remark

   Show marketing remark (224 chars)

   CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

9. 2011-12-16
   historical

   Show marketing remark (224 chars)

   CHARMING 3 BED BRICK RANCH LOCATED CLOSE TO FATIMA HOSPITAL. BEAUTIFUL HARDWOODS THROUGHOUT, SPACIOUS ROOMS, FIREPLACED LIVING ROOM AND FORMAL DINING. MANY REPLACEMENT WINDOWS. INTEGRAL 2-CAR GARAGE. LOCATED ON A CORNER LOT.

10. 2011-09-20
    listed $240,000
11. 2011-09-09
    historical
12. 2011-04-04
    listed $399,900
13. 1999-12-16
    soldstatus $138,500
14. 1999-11-29
    historical
15. 1999-09-13
    listed $144,000
16. 1996-03-28
    soldstatus $108,000
17. 1995-09-06
    listed $114,900

ⓘ 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

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $31,182
• − Mortgage interest: −$252
• − Property taxes: −$68
• − Insurance: −$22
• − Repairs & maintenance: −$2,495
• − Management: −$2,495
• − Depreciation: −$131
• Taxable income: $25,719
• Est. tax owed @ 24.0%: −$6,173
• After-tax cash flow: $18,088/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: North Providence
• NCES district ID: 4400780
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 37% ▼ -6.00%
• Median HH income: $50,962
• Composite: 24.99/100
• National rank: #7560
• State rank: #22 of 39 in RI

Livability — Providence

• Score: 84/100
• State rank: #2
• US rank: #794

Category grades

Amenities A+ Commute A+ 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

• County: Providence County · 548,917 people
• City population: 212,734
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 15,653
• Household income: $89,456
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 428.0

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 White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Black 9% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 4%
• Common ancestry: Lithuanian 11% Romanian 3% Russian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 80% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -227.12%
• Current HPI: 344.312
• Rent YoY: ▲ 2.14%
• 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

-96.1% since first listed

17 events — show timeline

• 2026-05-23 Listed $4,500 RIS
• 2013-12-19 Price Changed $199,000 RIS
• 2013-12-19 Price Changed $229,900 RIS
• 2013-12-19 Price Changed $245,000 RIS
• 2012-12-31 Sold (MLS) $157,336 RIS
• 2012-12-28 Sold (Public Records) $157,336 Public Records
• 2012-11-13 Listing Removed — RIS
• 2011-12-16 Listed $227,000 RIS
• 2011-12-16 Listing Removed — RIS
• 2011-09-20 Listed $240,000 RIS
• 2011-09-09 Listing Removed — RIS
• 2011-04-04 Listed $399,900 RIS
• 1999-12-16 Sold (MLS) $138,500 RIS
• 1999-11-29 Listing Removed — RIS
• 1999-09-13 Listed $144,000 RIS
• 1996-03-28 Sold (MLS) $108,000 RIS
• 1995-09-06 Listed $114,900 RIS

Property tax history

+0.0%/yr

Latest (2025): $6,269 · +5.8% YoY. Source: county tax records.