1 O'hare Ct · Cranston, RI 02816

$195,000

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 18 Days on market

Built 1994 Est $189k · at est.

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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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +6.1/10.0
• ARV discount +6.1/15.0
• Livability +4.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated single-family home in Coventry, RI, featuring 2 bedrooms and 2 full bathrooms. This move-in-ready property offers a bright and open layout that flows seamlessly from the modern kitchen to the living area. The kitchen is equipped with stainless steel appliances, brand-new cabinets, and ample counter space, making it perfect for everyday cooking and entertaining. New flooring runs throughout the home, complementing the fresh finishes and updated design. Both bathrooms have been fully renovated, with the primary bathroom showcasing a large soaking tub, double vanity, and elegant granite countertops. Enjoy the convenience of three off-street parking spaces and the comfort of

Key facts

• Brand-new cabinets
• Ample counter space
• New flooring

Tags

• UPDATED SINGLE-FAMILY HOME
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• BRAND-NEW CABINETS
• AMPLE COUNTER SPACE
• NEW FLOORING

Property features AI

Finance

• Financial info: Has land lease

Exterior

• Parking: No garage; 3 off-street parking spaces
• Utilities: Electric with circuit breakers; Connected water; Septic tank
• Home design: Single-story home; Vinyl siding; Slab foundation
• Construction: Vinyl siding construction; Slab foundation
• Exterior features: Connected water; Septic tank

Interior

• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Laminate flooring; 6 total rooms
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.3% in Cranston — 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 87/100 on livability (#1 in RI, #323 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 4 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 $151k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 72% 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 $192,075 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.11% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $189,024
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
46 Wright Way	0.40mi	2/2.0	952 (-10%)	10mo	$170,000	$179	57

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-3,576
• Equity at exit: $29,075

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $32,922
• Equity at exit: $16,860

Cash invested: $54,600 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,160 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$162 /mo · $1,950/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $440

Break-even live

Break-even rent $1,603

Max offer price $195,000

Occupancy floor 75%

Sensitivity live

Price	-10% $551	-5% $495	+0% $440	+5% $385	+10% $330
Rent	-10% $270	-5% $355	+0% $440	+5% $526	+10% $611
Rate	-1.0pp $538	-0.5pp $490	base $440	+0.5pp $390	+1.0pp $338

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Whitman St Coventry, RI	3.0	1.0	1200	$2,850	$2.38	2d	1	1.07mi

Listing history 20 events

1. 2026-05-13
   status Pending
2. 2026-04-24
   listed $195,000 Active
3. 2026-04-24
   historical
4. 2026-04-12
   listed $199,000 Active
5. 2026-04-12
   historical
6. 2026-04-07
   price $209,000
7. 2026-04-01
   price $209,900
8. 2026-03-25
   price $210,000
9. 2026-03-18
   price $215,000
10. 2026-02-25
    price $219,900
11. 2026-02-17
    price $220,000
12. 2026-02-04
    price $222,500
13. 2026-01-22
    price $225,000
14. 2026-01-05
    listed $229,900 Active
15. 2026-01-04
    historical
16. 2025-12-16
    price $239,900
17. 2025-12-09
    price $245,000
18. 2025-12-03
    price $250,000
19. 2025-11-18
    listed $269,900 Active
20. 2025-09-02
    soldstatus $151,000

ⓘ 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: $1,950 · $162/mo
• Projected year-2 tax: $2,564 · $214/mo
• Expected delta: +$614/yr (+$51/mo · 31.5%)

ⓘ 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 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,923
• − Mortgage interest: −$10,923
• − Property taxes: −$1,950
• − Insurance: −$975
• − Repairs & maintenance: −$2,074
• − Management: −$2,074
• − Depreciation: −$5,673
• Taxable income: $2,255
• Est. tax owed @ 24.0%: −$541
• After-tax cash flow: $4,742/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 — Cranston

• Score: 87/100
• State rank: #1
• US rank: #323

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 90,904 people
• City population: 72,803
• 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

+29.1% since first listed

20 events — show timeline

• 2026-05-13 Pending — RIS
• 2026-04-24 Listing Removed — RIS
• 2026-04-24 Listed $195,000 RIS
• 2026-04-12 Listing Removed — RIS
• 2026-04-12 Listed $199,000 RIS
• 2026-04-07 Price Changed $209,000 RIS
• 2026-04-01 Price Changed $209,900 RIS
• 2026-03-25 Price Changed $210,000 RIS
• 2026-03-18 Price Changed $215,000 RIS
• 2026-02-25 Price Changed $219,900 RIS
• 2026-02-17 Price Changed $220,000 RIS
• 2026-02-04 Price Changed $222,500 RIS
• 2026-01-22 Price Changed $225,000 RIS
• 2026-01-05 Listed $229,900 RIS
• 2026-01-04 Listing Removed — RIS
• 2025-12-16 Price Changed $239,900 RIS
• 2025-12-09 Price Changed $245,000 RIS
• 2025-12-03 Price Changed $250,000 RIS
• 2025-11-18 Listed $269,900 RIS
• 2025-09-02 Sold (Public Records) $151,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,950 · -3.9% YoY. Source: county tax records.