8 Arlington Ave · Cranston, RI 02920

$499,900

4 bd · 2.0 ba · 2,366 sqft · MultiFamily · 8 Days on market

Built 1960 Good condition 4,800 sqft lot Est $483k · at est.

---

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 +13.0/30.0
• ARV discount +5.9/15.0
• Livability +4.4/5.0
• DSCR +3.9/10.0
• Condition / age +3.8/5.0
• 1% rule +3.7/10.0
• Rent growth +3.1/5.0
• Schools +2.3/10.0
• 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

Two Family in Cranston on a dead end street in solid shape, with two bedrooms and one bath on each floor. It has a one car garage, lots of off street parking, a good sized yard, and newer mechanicals for added peace of mind. It works well for an owner-occupant or an investor looking for a low fuss portfolio add. Close to main highways and all amenities.

Key facts

• Off street parking
• Good sized yard
• Newer mechanicals

Tags

• GOOD SIZED YARD
• NEWER MECHANICALS
• OFF STREET PARKING
• CLOSE TO MAIN HIGHWAYS

Property features AI

Finance

• Financial info: Income property with 2 rental units

Exterior

• Parking: Detached garage; Total parking for 5 vehicles; One covered parking space
• Utilities: Sewer connected; Public water connected; 100-amp electrical service
• Home design: Two-story multiunit building; Single building with two residential units; About 2,366 sq ft above-grade finished area
• Construction: Wood siding construction
• Exterior features: Lot approximately 4,800 sq ft (0.1102 acres)

Interior

• Kitchen: Gas water heater
• Bedrooms: Two 2-bedroom units
• Flooring: Ceramic tile; Hardwood
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Forced-air gas heating
• Interior features: Full unfinished interior-entry basement; Ceramic tile and hardwood flooring
• Laundry & utility: 100-amp electric service

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $500k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-28 ($-332/yr) — negative. Per door: $-14/mo.
• To cash-flow at today's rent, offer at most $496k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $434k (13.2% below list).
• Recommended offer: $434k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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+.
• Cranston (suburban): math 16% / reading 35% proficiency, ranked #23 of 39 in RI (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.4%/yr); 124 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,338/mo this rent would consume 64% of the median local household income ($81k/yr) (locally 985% 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 $15k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $433,800 (13.2% 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. 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.87% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $482,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Heather St	0.40mi	3/2.0 (-1)	2,452 (+4%)	5mo	$500,000	$204	66
41 43 Bain St	0.16mi	4/2.0	2,196 (-7%)	20mo	$400,000	$182	63
362 364 Webster Ave	0.40mi	4/2.0	2,352 (-1%)	23mo	$427,000	$182	61
14 Whipple Ave	0.16mi	3/2.0 (-1)	2,586 (+9%)	16mo	$415,000	$160	59
60 Alto St	0.70mi	4/2.0	2,281 (-4%)	15mo	$570,000	$250	49
563 Laurel Hill Ave	0.38mi	4/2.0	2,688 (+14%)	17mo	$490,000	$182	46
396 Laurel Hill Ave	0.57mi	3/2.0 (-1)	2,165 (-8%)	11mo	$615,000	$284	45
157 Alto St	0.54mi	4/3.0	2,200 (-7%)	17mo	$550,000	$250	45
228 Farmington Ave	0.71mi	4/2.0	2,500 (+6%)	19mo	$375,000	$150	42
146 Oxford St	0.50mi	4/3.0	2,574 (+9%)	20mo	$531,000	$206	41
84 Fountain Ave	0.51mi	4/2.0	2,658 (+12%)	19mo	$508,000	$191	40
53 Lincoln Ave	0.43mi	4/3.0	2,106 (-11%)	24mo	$460,000	$218	38

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 · 2.42% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-85,220
• Equity at exit: $74,537

10-year hold

• IRR: -10.4%
• Equity multiple: 0.38×
• Total profit: $-86,420
• Equity at exit: $43,222

Cash invested: $139,972 (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 02920

• Rents YoY: 2.4%
• Active inventory: 124
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $4,338 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,498/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$911
• Net cashflow: $-28

Break-even live

Break-even rent $4,373

Max offer price $495,895

Occupancy floor 96%

Sensitivity live

Price	-10% $318	-5% $145	+0% $-28	+5% $-200	+10% $-373
Rent	-10% $-370	-5% $-199	+0% $-28	+5% $144	+10% $315
Rate	-1.0pp $224	-0.5pp $99	base $-28	+0.5pp $-157	+1.0pp $-289

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,338
Total (2 units)			$4,338

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Calef St Unit 16 Cranston, RI	5.0	3.0	3000	$3,500	$1.17	18d	1	0.35mi
216 Maplewood Ave Cranston, RI	3.0	1.5	2921	$2,200	$0.75	5d	1	0.43mi
216 Maplewood Ave Cranston, RI	3.0	1.5	1850	$2,200	$1.19	44d	1	0.43mi
35 Stadden St Unit 2/3 Providence, RI	3.0	1.5	1900	$2,600	$1.37	18d	1	1.05mi

Listing history 6 events

1. 2026-06-05
   statusdays on market $499,900 Pending 8 DOM
2. 2026-06-03
   days on market $499,900 Active 7 DOM
3. 2026-06-02
   days on market $499,900 Active 6 DOM
4. 2026-06-01
   days on market $499,900 Active 5 DOM
5. 2026-05-31
   days on market $499,900 Active 4 DOM
6. 2026-05-27
   listed $499,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $52,056
• − Mortgage interest: −$28,002
• − Property taxes: −$7,498
• − Insurance: −$2,500
• − Repairs & maintenance: −$4,164
• − Management: −$4,164
• − Depreciation: −$14,543
• Taxable loss: −$8,816
• Est. tax savings @ 24.0%: +$2,116
• After-tax cash flow: $1,784/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This two-family home in Cranston is in good condition with newer mechanicals and a good-sized yard. It's a low-fuss investment opportunity.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Rental trim around windows — improves home's appearance

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Rental trim around windows — improves home's appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cranston
• NCES district ID: 4400240
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $60,070
• Composite: 23.36/100
• National rank: #7910
• State rank: #23 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

• Census place: Cranston, RI
• County: Providence County · 548,917 people
• City population: 72,803
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 37,155
• Household income: $80,717
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 985.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Two or more races 8% Asian 7% Black 7%
• Hispanic origin (detail): Puerto Rican 4% Dominican 6%
• Common ancestry: Lithuanian 6% Russian 5% Slovak 2%
• Foreign-born: 16% · Canada, China
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 5% French/Haitian/Cajun 2%

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: ▼ -449.22%
• Current HPI: 334.2336
• Rent YoY: ▲ 2.42%
• 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

• 2026-05-27 Listed $499,900 RIS