60 Ruskin Ave · Woonsocket, RI 02895

$449,999

6 bd · 2.0 ba · 2,112 sqft · MultiFamily public records · 9 Days on market

Built 1969 0.26 ac lot Est $532k · 15% under

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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).

• ARV discount +14.5/15.0
• Cash flow +13.5/30.0
• Rent growth +4.8/5.0
• DSCR +4.1/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This turn-key East Woonsocket two-family offers a rare combination of modern mechanicals and classic appeal on a generous lot. The property features a low-maintenance vinyl exterior, a young roof, new electrical service, new heating system and a detached two-car garage. Both spacious units are move-in ready, each providing three bedrooms and one bathroom accented by hardwood floors and private porch areas. The expansive basement includes a brand-new heating system, common laundry, and ample storage, making this an ideal, low-overhead opportunity for savvy investors or owner-occupants seeking a "zero-project" home.

Key facts

• Young roof
• New heating system
• Hardwood floors

Tags

• LOW-MAINTENANCE VINYL EXTERIOR
• YOUNG ROOF
• NEW ELECTRICAL SERVICE
• NEW HEATING SYSTEM
• DETACHED TWO-CAR GARAGE
• HARDWOOD FLOORS

Property features AI

Finance

• Financial info: Two rental units with reported actual rent of $1,150 per month for each three-bedroom unit
• HOA & community: Nearby highway access, public transportation, shopping, restaurants, recreation area, tennis courts, schools, and hospital

Exterior

• Parking: Detached garage; Two covered garage spaces; Total of 6 parking spaces
• Utilities: Sewer connected; Water connected; 100-amp electrical service
• Home design: Two-story building; Multi-family property with 2 units in 1 building; Above-grade finished living area totaling 3,368
• Construction: Vinyl siding with drywall and plaster interior finishes; Concrete perimeter foundation
• Exterior features: Paved driveway; Fenced yard

Interior

• Kitchen: Oven/Range; Dishwasher; Refrigerator
• Bedrooms: Two separate three-bedroom units (each unit has 3 bedrooms)
• Flooring: Hardwood floors; Ceramic tile
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Oil-fired baseboard heating
• Interior features: Tub/shower; Exterior and interior entry to an unfinished full basement
• Laundry & utility: Washer and dryer provided; Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $16 ($189/yr) — positive. Per door: $8/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $374k (16.8% below list).
• Recommended offer: $374k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.3% in Woonsocket — 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 65/100 on livability (#24 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, schools D-, amenities F.
• Woonsocket (suburban): math 5% / reading 14% proficiency, ranked #37 of 39 in RI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 163 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,744/mo this rent would consume 74% of the median local household income ($61k/yr) (locally 2658% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% 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 $374,400 (16.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.15%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $532,224
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
132 Kenwood St	0.48mi	6/2.0	2,080 (-2%)	7mo	$525,000	$252	69

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.59×
• Total profit: $-52,177
• Equity at exit: $67,096

10-year hold

• IRR: 4.1%
• Equity multiple: 1.36×
• Total profit: $45,723
• Equity at exit: $38,908

Cash invested: $126,000 (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 02895

• Rents YoY: 9.2%
• Active inventory: 163
• Price-to-rent: 20.0×

Monthly cashflow live

• Estimated rent: $3,744 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$395 /mo · $4,736/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$786
• Net cashflow: $16

Break-even live

Break-even rent $3,724

Max offer price $449,999

Occupancy floor 95%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,744
Total (2 units)			$3,744

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Chester St Unit 3 Woonsocket, RI	5.0	2.0	2000	$2,200	$1.10	43d	1	1.43mi

Listing history 2 events

1. 2026-04-18
   status Pending
2. 2026-04-09
   listed $449,999 Active

ⓘ 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: $4,736 · $395/mo
• Projected year-2 tax: $6,035 · $503/mo
• Expected delta: +$1,299/yr (+$108/mo · 27.4%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $44,928
• − Mortgage interest: −$25,207
• − Property taxes: −$4,736
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,594
• − Management: −$3,594
• − Depreciation: −$13,091
• Taxable loss: −$7,544
• Est. tax savings @ 24.0%: +$1,811
• After-tax cash flow: $2,000/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: Woonsocket
• NCES district ID: 4401200
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $37,757
• Composite: 8.01/100
• National rank: #9923
• State rank: #37 of 39 in RI

Livability — Woonsocket

• Score: 65/100
• State rank: #24
• US rank: #12968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, RI
• County: Providence County · 548,917 people
• City population: 43,521
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 43,521
• Household income: $61,059
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2658.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 13% Romanian 3% Russian 3%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 17% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -431.80%
• Current HPI: 357.8858
• Rent YoY: ▲ 9.15%
• 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

2 events — show timeline

• 2026-04-18 Pending — RIS
• 2026-04-09 Listed $449,999 RIS

Property tax history

-0.1%/yr

Latest (2025): $4,736 · +11.4% YoY. Source: county tax records.