444 Woodward Rd #50 · Providence, RI 02904

$129,900

1 bd · 1.0 ba · 416 sqft · Condo public records · 7 Days on market

Built 1984 $163/mo HOA · 10% of rent

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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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lowest price housing unit in North Providence, ,, Studio is available in Parkview Condos, recently rehabed bathroom and kitchen, new flooring move in condition you wont be able to duplicate the space at this price. Heat and hot water are included in the monthly maintenance fee, laundry room across the hall and parking is located just steps away here is a unique and rare opportunity in this red hot market, this unit cannot last at this price for very long. ..

Key facts

• Laundry room
• New flooring
• Rehabed kitchen

Tags

• REHABED BATHROOM
• REHABED KITCHEN
• NEW FLOORING
• LAUNDRY ROOM
• PARKING LOCATED STEPS AWAY

Property features AI

Finance

• Financial info: Pets not allowed (cats permitted)
• HOA & community: Monthly association fee of $163; Association covers hot water, laundry, parking, snow removal, and water; Community of 99 units; Community features include golf access, highway access, proximity to hospital, and public transportation

Exterior

• Parking: No garage; Unassigned parking (1 space)
• Utilities: Sewer connected; Water connected (water tap fee); 100 amp electric service
• Home design: Condominium (Parkview Condominiums); Single-story; First floor entry
• Construction: Plaster, brick, vinyl siding, and wood siding exterior materials; Slab foundation
• Exterior features: Paved lot

Interior

• Bedrooms: Bathroom located on first floor
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Gas heating; Hot water heating
• Interior features: Storm door(s); Tub with shower
• Laundry & utility: Common area laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 9.1% 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 fast (+6.9%/yr); 151 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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 + 6.9% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.29% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.88% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $5,080
• Equity at exit: $19,369

10-year hold

• IRR: 16.7%
• Equity multiple: 2.64×
• Total profit: $59,729
• Equity at exit: $11,231

Cash invested: $36,372 (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 02904

• Rents YoY: 6.9%
• Active inventory: 151
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,670 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$118 /mo · $1,422/yr
• Insurance: −$54
• HOA: −$163
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $302

Break-even live

Break-even rent $1,287

Max offer price $129,900

Occupancy floor 77%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $163 · $1,956/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-15
   status $129,900 Pending 7 DOM
2. 2026-06-15
   days on market $129,900 Active 7 DOM
3. 2026-06-13
   days on market $129,900 Active 5 DOM
4. 2026-06-08
   remarks 462-char remark
5. 2026-06-08
   listed $129,900 Active 1 DOM

ⓘ 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: $1,422 · $118/mo
• Projected year-2 tax: $1,770 · $147/mo
• Expected delta: +$348/yr (+$29/mo · 24.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 14 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: $20,038
• − Mortgage interest: −$7,276
• − Property taxes: −$1,422
• − Insurance: −$650
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − HOA: −$1,956
• − Depreciation: −$3,779
• Taxable income: $1,749
• Est. tax owed @ 24.0%: −$420
• After-tax cash flow: $3,208/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): 32,531
• Household income: $67,003
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1176.0

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 0.66)
• Race & ethnicity: White 51% Hispanic / Latino 27% Two or more races 16% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 7%
• Common ancestry: Lithuanian 7% Russian 6% Romanian 2%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 64% English-only · Spanish 20% Other Indo-European 5% Other Asian/Pacific 3%

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: ▼ -379.06%
• Current HPI: 363.1386
• Rent YoY: ▲ 6.88%
• 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

1 event — show timeline

• 2026-06-08 Listed $129,900 RIS

Property tax history

+1.8%/yr

Latest (2025): $1,422 · +5.8% YoY. Source: county tax records.