30 Cumberland St · Valley Falls, RI 02864

$575,000

9 bd · 3.0 ba · 3,189 sqft · MultiFamily public records · 13 Days on market

Built 1900 5,227 sqft lot Est $555k · at est.

---

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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +6.3/10.0
• ARV discount +5.9/15.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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

Spacious three family located on a quiet surburban street in desirable Cumberland. Proportional/identical units each featuring 3 beds, hardwood floors, dining room and living room. Home needs some love but represents an outstandng opportunity with great equity and income potential. Property to be sold in "as is" condition with no working plumbing. Will need to be cash or 203K Loan.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1900

Property features AI

Finance

• Other: Property listed as a 3-unit multi-family (one building); Lot size approximately 0.12 acres

Exterior

• Parking: Detached garage; Total of 6 parking spaces with 1 covered space; Garage capacity: 1 car
• Utilities: Sewer connected; Water connected; Electric service: 100 amp with circuit breakers
• Home design: Single building containing three total units; Above-grade finished area present (exact distribution not listed)
• Construction: Vinyl siding exterior
• Exterior features: Porch

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Total of 15 rooms (distribution of bedrooms not specified)
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas hot water heating
• Interior features: Hardwood and laminate flooring; Full unfinished basement with interior entry; Fixer condition
• Laundry & utility: Laundry available in-unit and in a common area

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $492/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $575k).
• Cap rate 9.4% vs local median 3.3% in Valley Falls — 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 75/100 on livability (#8 in RI, #4,293 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, amenities F, commute F.
• Cumberland (suburban): math 40% / reading 52% proficiency, ranked #9 of 39 in RI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.5%/yr); 148 active listings in the ZIP; high-income renter base; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $6,511/mo this rent would consume 66% of the median local household income ($118k/yr) (locally 771% 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 $17k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $575,000

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 1900 — 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. 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 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: 1.13% ✓
• Cap rate: 9.37%
• Cash-on-cash: 11.00%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $554,886
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 E Earle St	0.16mi	8/3.0 (-1)	2,896 (-9%)	2mo	$505,000	$174	71

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.89×
• Total profit: $-18,360
• Equity at exit: $85,734

10-year hold

• IRR: 3.1%
• Equity multiple: 1.19×
• Total profit: $30,929
• Equity at exit: $49,715

Cash invested: $161,000 (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 02864

• Rents YoY: -1.5%
• Active inventory: 148
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $6,511 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$413 /mo · $4,957/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,367
• Net cashflow: $1,476

Break-even live

Break-even rent $4,643

Max offer price $575,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,801	-5% $1,638	+0% $1,476	+5% $1,313	+10% $1,150
Rent	-10% $961	-5% $1,218	+0% $1,476	+5% $1,733	+10% $1,990
Rate	-1.0pp $1,765	-0.5pp $1,622	base $1,476	+0.5pp $1,327	+1.0pp $1,175

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,510
Total (3 units)			$6,511

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-16
   status $575,000 Pending 13 DOM
2. 2026-06-15
   days on market $575,000 Active 13 DOM
3. 2026-06-13
   days on market $575,000 Active 11 DOM
4. 2026-06-09
   days on market $575,000 Active 7 DOM
5. 2026-06-08
   days on market $575,000 Active 6 DOM
6. 2026-06-07
   days on market $575,000 Active 5 DOM
7. 2026-06-05
   days on market $575,000 Active 2 DOM
8. 2026-06-02
   remarks 384-char remark
9. 2026-06-02
   listed $575,000 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: $4,957 · $413/mo
• Projected year-2 tax: $7,165 · $597/mo
• Expected delta: +$2,208/yr (+$184/mo · 44.5%)

ⓘ 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 ≥96°F today · 15 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: $78,132
• − Mortgage interest: −$32,209
• − Property taxes: −$4,957
• − Insurance: −$2,875
• − Repairs & maintenance: −$6,251
• − Management: −$6,251
• − Depreciation: −$16,727
• Taxable income: $8,863
• Est. tax owed @ 24.0%: −$2,127
• After-tax cash flow: $15,581/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: Cumberland
• NCES district ID: 4400270
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $75,407
• Composite: 41.85/100
• National rank: #3382
• State rank: #9 of 39 in RI

Livability — Valley Falls

• Score: 75/100
• State rank: #8
• US rank: #4293

Category grades

Amenities F Commute F 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: Valley Falls, RI
• County: Providence County · 548,917 people
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 36,820
• Household income: $117,522
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 771.0

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: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 5% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 11% Russian 10% Romanian 6%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 83% English-only · Other Indo-European 7% Spanish 4% 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: ▼ -461.15%
• Current HPI: 313.0341
• Rent YoY: ▼ -1.48%
• 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

+59.8% since first listed

4 events — show timeline

• 2026-06-02 Listed $575,000 RIS
• 2021-10-07 Pending — RIS
• 2021-10-07 Listing Removed — RIS
• 2021-09-30 Listed $359,900 RIS

Property tax history

+3.7%/yr

Latest (2025): $4,957 · +2.7% YoY. Source: county tax records.