187 Sisson St · Pawtucket, RI 02860

$650,000

7 bd · 3.0 ba · 2,868 sqft · MultiFamily public records · 162 Days on market

Built 1900 7,405 sqft lot $227/sqft · 35% above area Est $687k · 5% 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).

• Cash flow +15.3/30.0
• ARV discount +9.9/15.0
• DSCR +4.7/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3-family property offering strong income potential in a convenient Pawtucket location. Each unit features 2 bedrooms, 1 bathroom, and functional layouts. Each unit also has its own large front porch. The property includes a detached three-car garage along with ample additional off-street parking in the jumbo rear lot. The house has a hard wired smoke/co2 system which includes a separate house electric meter. Located on a residential street with easy access to Route 95 and Route 1, the property is just minutes from downtown Pawtucket, local shops, restaurants, schools, and everyday amenities, with quick access to Providence and Massachusetts for commuters.

Key facts

• Large front porch
• 7,405 sq ft lot
• 3 garage spots

Tags

• LARGE FRONT PORCH
• DETACHED THREE-CAR GARAGE
• EASY ACCESS TO ROUTE 95
• EASY ACCESS TO ROUTE 1
• QUICK ACCESS TO PROVIDENCE
• QUICK ACCESS TO MASSACHUSETTS

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive. Per door: $79/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 $562k (13.6% below list).
• Recommended offer: $562k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.8% in Pawtucket — 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 71/100 on livability (#16 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, schools D, amenities F.
• Pawtucket (suburban): math 7% / reading 19% proficiency, ranked #33 of 39 in RI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 128 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $5,618/mo this rent would consume 110% of the median local household income ($62k/yr) (locally 2528% 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 $4k of loan paydown is wiped out by about $20k 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

• It's been on market 162 days — a 12% lower offer ($572k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $485k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% 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 $561,800 (13.6% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.55%
• DSCR: 1.07
• GRM: 9.6

CMA / ARV

• ARV (median comp): $686,575
• List price: $650,000
• Delta: -5.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
199 Pawtucket Ave	0.48mi	7/3.0	2,970 (+4%)	6mo	$620,000	$209	66
230 Pawtucket Ave	0.46mi	6/3.0 (-1)	2,785 (-3%)	7mo	$660,000	$237	63
23 Carson St	0.26mi	8/3.0 (+1)	2,592 (-10%)	10mo	$600,000	$231	59
25 27 Blodgett Ave	0.45mi	6/2.0 (-1)	2,602 (-9%)	0mo	$667,500	$257	54
44 Highland St	0.45mi	8/3.0 (+1)	3,086 (+8%)	9mo	$590,000	$191	54
390 Weeden St	0.67mi	6/3.0 (-1)	2,742 (-4%)	4mo	$611,000	$223	53
7 Brown St	0.50mi	6/3.0 (-1)	2,656 (-7%)	8mo	$690,000	$260	52
10 Belmont St	0.36mi	8/4.0 (+1)	3,120 (+9%)	9mo	$732,500	$235	52
4 Belmont St	0.38mi	8/4.0 (+1)	3,120 (+9%)	9mo	$732,500	$235	52
70 Dunnell Ave	0.29mi	6/5.0 (-1)	2,448 (-15%)	6mo	$565,000	$231	44
12 14 Fairview Ave	0.75mi	8/4.0 (+1)	3,148 (+10%)	10mo	$600,000	$191	32
18 Fairlawn Ave	0.74mi	8/5.0 (+1)	3,210 (+12%)	8mo	$690,000	$215	26

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 · 3.47% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-87,750
• Equity at exit: $96,917

10-year hold

• IRR: -3.8%
• Equity multiple: 0.74×
• Total profit: $-46,413
• Equity at exit: $56,200

Cash invested: $182,000 (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 02860

• Rents YoY: 3.5%
• Active inventory: 128
• Price-to-rent: 28.9×

Monthly cashflow live

• Estimated rent: $5,618 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$523 /mo · $6,278/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,180
• Net cashflow: $236

Break-even live

Break-even rent $5,320

Max offer price $650,000

Occupancy floor 91%

Sensitivity live

Price	-10% $603	-5% $420	+0% $236	+5% $52	+10% $-132
Rent	-10% $-208	-5% $14	+0% $236	+5% $457	+10% $679
Rate	-1.0pp $563	-0.5pp $401	base $236	+0.5pp $67	+1.0pp $-104

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,619
Total (3 units)			$5,618

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-16
   days on market $650,000 Active 162 DOM
2. 2026-06-15
   days on market $650,000 Active 161 DOM
3. 2026-06-13
   days on market $650,000 Active 159 DOM
4. 2026-06-13
   days on market $650,000 Active 158 DOM
5. 2026-06-09
   days on market $650,000 Active 155 DOM
6. 2026-06-08
   days on market $650,000 Active 154 DOM
7. 2026-06-07
   days on market $650,000 Active 153 DOM
8. 2026-06-05
   days on market $650,000 Active 150 DOM
9. 2026-06-03
   days on market $650,000 Active 149 DOM
10. 2026-06-02
    days on market $650,000 Active 148 DOM
11. 2026-06-01
    days on market $650,000 Active 147 DOM
12. 2026-05-31
    days on market $650,000 Active 146 DOM
13. 2026-05-19
    status Active 663-char remark

    Show marketing remark (663 chars)

    3-family property offering strong income potential in a convenient Pawtucket location. Each unit features 2 bedrooms, 1 bathroom, and functional layouts. Each unit also has its own large front porch. The property includes a detached three-car garage along with ample additional off-street parking in the jumbo rear lot. The house has a hard wired smoke/co2 system which includes a separate house electric meter. Located on a residential street with easy access to Route 95 and Route 1, the property is just minutes from downtown Pawtucket, local shops, restaurants, schools, and everyday amenities, with quick access to Providence and Massachusetts for commuters.

14. 2026-05-05
    historical Active Under Contract 663-char remark

    Show marketing remark (663 chars)

    3-family property offering strong income potential in a convenient Pawtucket location. Each unit features 2 bedrooms, 1 bathroom, and functional layouts. Each unit also has its own large front porch. The property includes a detached three-car garage along with ample additional off-street parking in the jumbo rear lot. The house has a hard wired smoke/co2 system which includes a separate house electric meter. Located on a residential street with easy access to Route 95 and Route 1, the property is just minutes from downtown Pawtucket, local shops, restaurants, schools, and everyday amenities, with quick access to Providence and Massachusetts for commuters.

15. 2026-02-02
    price $650,000 663-char remark

    Show marketing remark (663 chars)

    3-family property offering strong income potential in a convenient Pawtucket location. Each unit features 2 bedrooms, 1 bathroom, and functional layouts. Each unit also has its own large front porch. The property includes a detached three-car garage along with ample additional off-street parking in the jumbo rear lot. The house has a hard wired smoke/co2 system which includes a separate house electric meter. Located on a residential street with easy access to Route 95 and Route 1, the property is just minutes from downtown Pawtucket, local shops, restaurants, schools, and everyday amenities, with quick access to Providence and Massachusetts for commuters.

16. 2026-01-05
    listed $660,000 Active 663-char remark

    Show marketing remark (663 chars)

    3-family property offering strong income potential in a convenient Pawtucket location. Each unit features 2 bedrooms, 1 bathroom, and functional layouts. Each unit also has its own large front porch. The property includes a detached three-car garage along with ample additional off-street parking in the jumbo rear lot. The house has a hard wired smoke/co2 system which includes a separate house electric meter. Located on a residential street with easy access to Route 95 and Route 1, the property is just minutes from downtown Pawtucket, local shops, restaurants, schools, and everyday amenities, with quick access to Providence and Massachusetts for commuters.

17. 2022-11-07
    soldstatus $485,000
18. 2020-11-05
    soldstatus $380,000 Closed 197-char remark

    Show marketing remark (197 chars)

    Fully Occupied 3 family has double palor with 2 beds each floor. large front porches, new single layer roof approx. 2018 coin operated washer and dryer and a 3+ car garage. Close to the Mass. Line

19. 2020-11-05
    soldstatus $380,000

    Show marketing remark (197 chars)

    Fully Occupied 3 family has double palor with 2 beds each floor. large front porches, new single layer roof approx. 2018 coin operated washer and dryer and a 3+ car garage. Close to the Mass. Line

20. 2020-08-11
    status Pending 197-char remark

    Show marketing remark (197 chars)

    Fully Occupied 3 family has double palor with 2 beds each floor. large front porches, new single layer roof approx. 2018 coin operated washer and dryer and a 3+ car garage. Close to the Mass. Line

21. 2020-07-24
    listed $389,000 Active 197-char remark

    Show marketing remark (197 chars)

    Fully Occupied 3 family has double palor with 2 beds each floor. large front porches, new single layer roof approx. 2018 coin operated washer and dryer and a 3+ car garage. Close to the Mass. Line

22. 2020-07-22
    historical $389,000 197-char remark

    Show marketing remark (197 chars)

    Fully Occupied 3 family has double palor with 2 beds each floor. large front porches, new single layer roof approx. 2018 coin operated washer and dryer and a 3+ car garage. Close to the Mass. Line

23. 2012-08-31
    soldstatus $57,000
24. 2012-07-23
    soldstatus $110,000
25. 2012-01-21
    listed $110,000
26. 2012-01-20
    historical
27. 1991-01-07
    soldstatus $152,000

ⓘ 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: $6,278 · $523/mo
• Projected year-2 tax: $8,436 · $703/mo
• Expected delta: +$2,158/yr (+$180/mo · 34.4%)

ⓘ 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 6/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $67,416
• − Mortgage interest: −$36,410
• − Property taxes: −$6,278
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,393
• − Management: −$5,393
• − Depreciation: −$18,909
• Taxable loss: −$8,218
• Est. tax savings @ 24.0%: +$1,972
• After-tax cash flow: $4,799/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: Pawtucket
• NCES district ID: 4400840
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $41,838
• Composite: 11.29/100
• National rank: #9718
• State rank: #33 of 39 in RI

Livability — Pawtucket

• Score: 71/100
• State rank: #16
• US rank: #7037

Category grades

Amenities F Commute F 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

• Census place: Pawtucket, RI
• County: Providence County · 548,917 people
• City population: 75,942
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 47,818
• Household income: $61,539
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 2528.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 29% Two or more races 22% Black 14% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 6%
• Common ancestry: Russian 9% Lithuanian 4% Romanian 2%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 22% Other Indo-European 9% French/Haitian/Cajun 9%

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: ▼ -215.00%
• Current HPI: 355.0152
• Rent YoY: ▲ 3.47%
• 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

+327.6% since first listed

15 events — show timeline

• 2026-05-19 Relisted — RIS
• 2026-05-05 Contingent — RIS
• 2026-02-02 Price Changed $650,000 RIS
• 2026-01-05 Listed $660,000 RIS
• 2022-11-07 Sold (Public Records) $485,000 Public Records
• 2020-11-05 Sold (Public Records) $380,000 Public Records
• 2020-11-05 Sold (MLS) $380,000 RIS
• 2020-08-11 Pending — RIS
• 2020-07-24 Listed $389,000 RIS
• 2020-07-22 Coming Soon $389,000 RIS
• 2012-08-31 Sold (MLS) $57,000 RIS
• 2012-07-23 Sold (Public Records) $110,000 Public Records
• 2012-01-21 Listed $110,000 RIS
• 2012-01-20 Listing Removed — RIS
• 1991-01-07 Sold (Public Records) $152,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $6,278 · +6.6% YoY. Source: county tax records.