4 Lane 3 Ln · Coventry, RI 02816

$95,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 21 Days on market

Built 1969 $418/mo HOA · 23% 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
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 4 Lane Three, Coventry, RI a beautifully refreshed 2-bedroom, 1-bathroom mobile home offering comfortable, move-in ready living in the sought-after Maple Root Community. This inviting home features a spacious open-concept layout with a large kitchen perfect for cooking and entertaining, flowing seamlessly into a generous living area. Two enclosed porches provide versatile bonus space for seasonal enjoyment, while the spacious bathroom offers ample functionality. Outside, you'll appreciate the convenience of an included storage shed for all your outdoor equipment and belongings. Located in the well-maintained Maple Root Community, this refreshed home is ready for you to move in

Key facts

• Enclosed porches
• Large kitchen
• Storage shed

Tags

• OPEN-CONCEPT LAYOUT
• LARGE KITCHEN
• ENCLOSED PORCHES
• STORAGE SHED

Property features AI

Finance

• Other: Assessed value $67,700
• Financial info: Annual taxes (2025): $1,089
• HOA & community: Association fee $418 monthly; Has land lease

Exterior

• Parking: No garage; 2 parking spaces (total)
• Utilities: 100 amp electric service; Water tap fee
• Home design: Single-story home; Above-grade finished area: 672
• Construction: Built with vinyl siding and drywall
• Exterior features: Vinyl siding; Drywall interior walls

Interior

• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Oil heating; Has heating
• Interior features: Laminate flooring; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Coventry (suburban): math 25% / reading 41% proficiency, ranked #19 of 39 in RI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 176 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 471 units permitted in Kent County in 2024 (240 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Kent 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 + 3.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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 $45k; list at $95k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.91% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.60%
• DSCR: 1.78
• GRM: 4.4

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: 9.3%
• Equity multiple: 1.37×
• Total profit: $9,719
• Equity at exit: $14,165

10-year hold

• IRR: 18.6%
• Equity multiple: 2.56×
• Total profit: $41,542
• Equity at exit: $8,214

Cash invested: $26,600 (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 02816

• Active inventory: 176
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,819 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$91 /mo · $1,089/yr
• Insurance: −$40
• HOA: −$418
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $390

Break-even live

Break-even rent $1,325

Max offer price $95,000

Occupancy floor 74%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Woodland Dr Coventry, RI	1.0	1.0	634	$1,690	$2.67	1d	1	0.83mi

HOA detail

• Monthly dues: $418 · $5,016/yr

Listing history 17 events

1. 2026-06-03
   days on market $95,000 Active 21 DOM
2. 2026-06-02
   days on market $95,000 Active 20 DOM
3. 2026-06-01
   days on market $95,000 Active 19 DOM
4. 2026-05-31
   days on market $95,000 Active 18 DOM
5. 2026-05-13
   listed $95,000 Active
6. 2026-05-05
   historical
7. 2026-04-09
   listed $95,000 Active
8. 2026-03-31
   historical
9. 2026-03-25
   price $94,900
10. 2026-02-24
    listed $99,900 Active
11. 2026-02-05
    historical
12. 2026-01-29
    listed $99,900 Active
13. 2026-01-27
    historical
14. 2026-01-07
    listed $99,900 Active
15. 2025-12-28
    historical
16. 2025-12-09
    listed $99,900 Active
17. 2025-11-12
    soldstatus $45,000

ⓘ 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: $1,089 · $91/mo
• Projected year-2 tax: $1,319 · $110/mo
• Expected delta: +$230/yr (+$19/mo · 21.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,822
• − Mortgage interest: −$5,321
• − Property taxes: −$1,089
• − Insurance: −$475
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − HOA: −$5,016
• − Depreciation: −$2,764
• Taxable income: $3,666
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $3,802/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: Coventry
• NCES district ID: 4400210
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 41% ▼ -10.00%
• Median HH income: $66,277
• Composite: 30.18/100
• National rank: #6317
• State rank: #19 of 39 in RI

Livability — Coventry

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

Census & demographics

• County: Kent County · 90,904 people
• City population: 33,298
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 33,298
• Household income: $101,431
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 667.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 160,994 people
• By 2030: 157,428 · -2.2%
• By 2040: 148,389 · -7.8%
• By 2050: 137,995 · -14.3%
• By 2075: 118,536 · -26.4%
• By 2100: 102,266 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Lithuanian 13% Russian 8% Romanian 4%
• Foreign-born: 3% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 49.9% · R 48.1% · Other 2.0%
• 2008→2024 swing: -15.6pp toward R · 2008: 17.5pp · 2024: 1.9pp
• All cycles: 2024: D+1.9 2020: D+7.6 2016: R+0.7 2012: D+18.4 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -362.74%
• Current HPI: 336.2662
• 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

+111.1% since first listed

13 events — show timeline

• 2026-05-13 Listed $95,000 RIS
• 2026-05-05 Listing Removed — RIS
• 2026-04-09 Listed $95,000 RIS
• 2026-03-31 Listing Removed — RIS
• 2026-03-25 Price Changed $94,900 RIS
• 2026-02-24 Listed $99,900 RIS
• 2026-02-05 Listing Removed — RIS
• 2026-01-29 Listed $99,900 RIS
• 2026-01-27 Listing Removed — RIS
• 2026-01-07 Listed $99,900 RIS
• 2025-12-28 Listing Removed — RIS
• 2025-12-09 Listed $99,900 RIS
• 2025-11-12 Sold (Public Records) $45,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,089 · +1.6% YoY. Source: county tax records.