47 Long St · Warwick, RI 02888

$529,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 7 Days on market

Built 1973 8,276 sqft lot Est $435k · 21% 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).

• Cash flow +4.5/30.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Ranch, Basement is full walkout ready to be finished. Beautiful hardwoods. Prequal letter required with offers.

Key facts

• Hot tub
• Updated kitchen
• Huge deck

Tags

• PROFESSIONALLY INSPECTED
• UPDATED KITCHEN
• VERSATILE LIVING SPACE
• TASTEFULLY UPDATED BATHROOMS
• HUGE DECK
• HOT TUB

Property features AI

Finance

• HOA & community: Community amenities include golf, pool, tennis courts, public transportation, recreation area, restaurants, shopping, highway access, near hospital and schools

Exterior

• Parking: No garage; Total of 6 parking spaces
• Utilities: Public water; Public sewer; 200+ amp electrical service with circuit breakers
• Home design: Two-story house; Concrete perimeter foundation
• Construction: Drywall and plaster interior surfaces; Clapboard and shingle siding
• Exterior features: Deck; Paved driveway; Outbuilding; Fenced yard; Walk to water

Interior

• Kitchen: Eat-in kitchen; Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Three bedrooms on the first floor
• Flooring: Ceramic tile; Hardwood; Laminate; Carpet
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air; Forced air heating; Gas heating; Pellet stove
• Interior features: Attic; Wet bar; Stall shower; Tub shower; Cable TV; Thermal windows; Storm door(s)
• Laundry & utility: Laundry room; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $529k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (45.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (51.8% below list).
• Recommended offer: $255k (51.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#6 in RI, #2,425 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Warwick (urban): math 15% / reading 32% proficiency, ranked #25 of 39 in RI (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Park School (math 22% / reading 42%, grade F, #67 of 167 statewide, top 46%, 215 students, 31% FRL).
• Market conditions: 70 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $4k of loan paydown is wiped out by about $16k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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 $210k; list at $529k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $254,882 (51.8% 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 1973 — 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 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?
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: 0.48% ✗
• Cap rate: 3.19%
• Cash-on-cash: -11.09%
• DSCR: 0.51
• GRM: 17.3

CMA / ARV

• ARV (on-the-fly): $435,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Missouri Dr	0.29mi	3/1.0	1,152 (+2%)	1mo	$417,500	$362	82
11 Midway Dr	0.14mi	2/1.0 (-1)	1,152 (+2%)	3mo	$417,500	$362	82
4 Ellsworth St	0.09mi	3/1.0	1,200 (+6%)	9mo	$375,000	$313	77
71 Macarthur Dr	0.28mi	2/1.0 (-1)	1,080 (-4%)	7mo	$362,500	$336	69
10 Cosett Rd	0.63mi	3/1.0	1,134 (+0%)	1mo	$437,500	$386	69
148 Asylum Rd	0.46mi	3/1.0	1,008 (-11%)	1mo	$430,000	$427	60
288 Cove Ave	0.53mi	3/1.0	1,004 (-11%)	4mo	$420,000	$418	54
111 Bakers Creek Rd	0.30mi	2/1.0 (-1)	1,290 (+14%)	8mo	$250,000	$194	51
48 Wellington Ave	0.37mi	3/1.0	960 (-15%)	9mo	$440,000	$458	50
77 Buttonwoods Ave	0.55mi	3/1.0	972 (-14%)	4mo	$397,000	$408	48
40 Buttonwoods Ave	0.62mi	3/1.0	1,296 (+15%)	7mo	$400,000	$309	40
28 Wesleyan Ave	0.68mi	3/1.0	960 (-15%)	9mo	$401,000	$418	36

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: -36.6%
• Equity multiple: -0.17×
• Total profit: $-173,036
• Equity at exit: $78,876

10-year hold

• IRR: -51.7%
• Equity multiple: -0.78×
• Total profit: $-263,469
• Equity at exit: $45,738

Cash invested: $148,120 (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 02888

• Active inventory: 70
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $2,549 high
• Mortgage (P&I): −$2,774
• Tax from tax record: −$388 /mo · $4,655/yr
• Insurance: −$220
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-1,369

Break-even live

Break-even rent $4,282

Max offer price $287,178

Occupancy floor —

Sensitivity live

Price	-10% $-1,069	-5% $-1,219	+0% $-1,369	+5% $-1,519	+10% $-1,668
Rent	-10% $-1,570	-5% $-1,470	+0% $-1,369	+5% $-1,268	+10% $-1,168
Rate	-1.0pp $-1,102	-0.5pp $-1,234	base $-1,369	+0.5pp $-1,506	+1.0pp $-1,645

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: $132,250
• Closing costs: $15,870
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
168 Main Ave Warwick, RI	2.0	1.0	800	$2,500	$3.12	19d	1	0.59mi
5 Moccasin Dr Warwick, RI	2.0	1.0	930	$2,350	$2.53	19d	1	0.64mi
3524 W Shore Rd Warwick, RI	1.0–2.0	1.0–1.5	910	$2,500	$2.75	45d	2	0.85mi
3524 W Shore Rd #505 Warwick, RI	2.0	1.5	1100	$2,500	$2.27	46d	1	0.86mi
191 Shand Ave Warwick, RI	2.0	1.0	900	$3,000	$3.33	22d	1	0.86mi

Listing history 20 events

1. 2026-06-08
   statusdays on market $529,000 Pending 7 DOM
2. 2026-06-07
   days on market $529,000 Active 6 DOM
3. 2026-06-03
   days on market $529,000 Active 2 DOM
4. 2026-06-02
   pricestatusdays on marketlisting id $529,000 Active 1 DOM
5. 2026-05-01
   status Pending
6. 2026-04-20
   listed $519,000 Active
7. 2007-06-22
   soldstatus $210,000 116-char remark

   Show marketing remark (116 chars)

   Nice Ranch, Basement is full walkout ready to be finished. Beautiful hardwoods. Prequal letter required with offers.

8. 2007-06-22
   soldstatus $210,000

   Show marketing remark (116 chars)

   Nice Ranch, Basement is full walkout ready to be finished. Beautiful hardwoods. Prequal letter required with offers.

9. 2007-05-17
   historical 116-char remark

   Show marketing remark (116 chars)

   Nice Ranch, Basement is full walkout ready to be finished. Beautiful hardwoods. Prequal letter required with offers.

10. 2007-05-10
    listed $209,900 116-char remark

    Show marketing remark (116 chars)

    Nice Ranch, Basement is full walkout ready to be finished. Beautiful hardwoods. Prequal letter required with offers.

11. 2006-06-29
    soldstatus $265,000 250-char remark

    Show marketing remark (250 chars)

    GREAT RAISED RANCH IN DESIRABLE BUTTONWOODS, 3 BED 1 BATH UPDATED KITCHEN W/ STAINLESS STEEL APPLIANCES. 12X42 DECK W/ HOT TUB, TWO SIDED FRONTAGE ON LONG AND BURNSIDE. SQFT COULD BE 2X. HARDWOODS THROUGHOUT. WALKOUT BASEMENT. GREAT SHOW! CALL TODAY!

12. 2006-06-29
    soldstatus $265,000

    Show marketing remark (250 chars)

    GREAT RAISED RANCH IN DESIRABLE BUTTONWOODS, 3 BED 1 BATH UPDATED KITCHEN W/ STAINLESS STEEL APPLIANCES. 12X42 DECK W/ HOT TUB, TWO SIDED FRONTAGE ON LONG AND BURNSIDE. SQFT COULD BE 2X. HARDWOODS THROUGHOUT. WALKOUT BASEMENT. GREAT SHOW! CALL TODAY!

13. 2006-06-29
    soldstatus $265,000

    Show marketing remark (250 chars)

    GREAT RAISED RANCH IN DESIRABLE BUTTONWOODS, 3 BED 1 BATH UPDATED KITCHEN W/ STAINLESS STEEL APPLIANCES. 12X42 DECK W/ HOT TUB, TWO SIDED FRONTAGE ON LONG AND BURNSIDE. SQFT COULD BE 2X. HARDWOODS THROUGHOUT. WALKOUT BASEMENT. GREAT SHOW! CALL TODAY!

14. 2006-06-02
    historical 250-char remark

    Show marketing remark (250 chars)

    GREAT RAISED RANCH IN DESIRABLE BUTTONWOODS, 3 BED 1 BATH UPDATED KITCHEN W/ STAINLESS STEEL APPLIANCES. 12X42 DECK W/ HOT TUB, TWO SIDED FRONTAGE ON LONG AND BURNSIDE. SQFT COULD BE 2X. HARDWOODS THROUGHOUT. WALKOUT BASEMENT. GREAT SHOW! CALL TODAY!

15. 2006-05-05
    listed $269,000 250-char remark

    Show marketing remark (250 chars)

    GREAT RAISED RANCH IN DESIRABLE BUTTONWOODS, 3 BED 1 BATH UPDATED KITCHEN W/ STAINLESS STEEL APPLIANCES. 12X42 DECK W/ HOT TUB, TWO SIDED FRONTAGE ON LONG AND BURNSIDE. SQFT COULD BE 2X. HARDWOODS THROUGHOUT. WALKOUT BASEMENT. GREAT SHOW! CALL TODAY!

16. 2000-09-28
    soldstatus $103,000
17. 2000-09-27
    soldstatus $103,000
18. 2000-09-16
    historical
19. 2000-09-06
    listed $101,500
20. 1992-04-30
    soldstatus $106,500

ⓘ 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: $4,655 · $388/mo
• Projected year-2 tax: $6,639 · $553/mo
• Expected delta: +$1,984/yr (+$165/mo · 42.6%)

ⓘ 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 5/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% 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: $30,586
• − Mortgage interest: −$29,632
• − Property taxes: −$4,655
• − Insurance: −$2,645
• − Repairs & maintenance: −$2,447
• − Management: −$2,447
• − Depreciation: −$15,389
• Taxable loss: −$26,629
• Est. tax savings @ 24.0%: +$6,391
• After-tax cash flow: $-10,036/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: Warwick
• NCES district ID: 4401110
• Math proficiency: 15% ▼ -11.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $63,420
• Composite: 22.03/100
• National rank: #8203
• State rank: #25 of 39 in RI

Livability — Warwick

• Score: 78/100
• State rank: #6
• US rank: #2425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warwick, RI
• City population: 108,434
• Population (ZIP): 18,951

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 (81%)
• Race & ethnicity: White 81% Two or more races 7% Black 6% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Russian 10% Lithuanian 6% Romanian 3%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -570.87%
• Current HPI: 371.5696
• Rent YoY: —
• Metro: —
• 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

+387.3% since first listed

16 events — show timeline

• 2026-05-01 Pending — RIS
• 2026-04-20 Listed $519,000 RIS
• 2007-06-22 Sold (Public Records) $210,000 Public Records
• 2007-06-22 Sold (MLS) $210,000 RIS
• 2007-05-17 Listing Removed — RIS
• 2007-05-10 Listed $209,900 RIS
• 2006-06-29 Sold (Public Records) $265,000 Public Records
• 2006-06-29 Sold (Public Records) $265,000 Public Records
• 2006-06-29 Sold (MLS) $265,000 RIS
• 2006-06-02 Listing Removed — RIS
• 2006-05-05 Listed $269,000 RIS
• 2000-09-28 Sold (Public Records) $103,000 Public Records
• 2000-09-27 Sold (MLS) $103,000 RIS
• 2000-09-16 Listing Removed — RIS
• 2000-09-06 Listed $101,500 RIS
• 1992-04-30 Sold (Public Records) $106,500 Public Records

Property tax history

+2.8%/yr

Latest (2025): $4,655 · +6.6% YoY. Source: county tax records.