272 Veazie St · Providence, RI 02904

$319,900

4 bd · 2.0 ba · 1,107 sqft · SingleFamily public records · 54 Days on market

Built 1922 6,534 sqft lot Est $464k · 31% 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 +15.0/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MULTIPLE OFFER NOTIFICATION! Highest and best due by Tuesday, 3/27 @12pm. Attention investors: Very affordable single family home. Minor updates required- flip potential. Open house on Sunday, March 3/27 from 12pm to 2pm. 2 levels of living including 4 bedrooms and 2 full baths. Full yard for entertaining with plenty of parking. Cash buyers and a quick closing preferred. Sold "as-is".

Key facts

• 6,534 sq ft lot
• Garage
• Built 1922

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $68 ($813/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (16.4% below list).
• Recommended offer: $267k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Providence (urban): math 8% / reading 16% proficiency, ranked #34 of 39 in RI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.9%/yr); 153 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $2,673/mo this rent would consume 48% of the median local household income ($67k/yr) (locally 1176% 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 $2k of loan paydown is wiped out by about $10k 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 54 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 29y 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 1922 — 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 $267,299 (16.4% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $463,833
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Gale Ct	0.67mi	3/1.5 (-1)	1,085 (-2%)	23mo	$369,000	$340	39
37 Washington St	0.71mi	3/1.0 (-1)	960 (-13%)	4mo	$402,000	$419	32

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 · 6.88% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.59×
• Total profit: $-36,741
• Equity at exit: $47,698

10-year hold

• IRR: 2.9%
• Equity multiple: 1.24×
• Total profit: $21,508
• Equity at exit: $27,659

Cash invested: $89,572 (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: 153
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,673 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$233 /mo · $2,796/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $68

Break-even live

Break-even rent $2,587

Max offer price $319,900

Occupancy floor 92%

Sensitivity live

Price	-10% $249	-5% $158	+0% $68	+5% $-23	+10% $-113
Rent	-10% $-143	-5% $-38	+0% $68	+5% $173	+10% $279
Rate	-1.0pp $229	-0.5pp $149	base $68	+0.5pp $-15	+1.0pp $-99

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Concannon St Providence, RI	3.0	2.0	1484	$2,700	$1.82	24d	1	0.13mi
788 Academy Ave Unit 2 Providence, RI	3.0	1.0	1100	$2,500	$2.27	24d	1	0.66mi
729 Academy Ave Providence, RI	3.0	1.0	1261	$2,395	$1.90	18d	1	0.71mi
270 Langdon St Unit 1 Providence, RI	3.0	1.0	1189	$2,300	$1.93	12d	1	0.71mi
191 Russo St Unit 1 Providence, RI	4.0	2.0	1500	$3,000	$2.00	2d	1	0.76mi
14 Eaton St Providence, RI	3.0	1.0	1350	$2,550	$1.89	5d	1	0.85mi
38 Tyndall Ave Providence, RI	4.0	2.0	1500	$3,500	$2.33	20d	1	0.91mi
44 Hall St Unit 2 Providence, RI	3.0	2.0	1200	$2,850	$2.38	24d	1	0.92mi
1189 Smith St Providence, RI	3.0	1.5	1112	$2,400	$2.16	24d	1	0.92mi
162 Urban Ave #3 North Providence, RI	3.0	1.0	900	$1,850	$2.06	44d	1	1.19mi
26 Beach St North Providence, RI	3.0	1.0	1366	$3,000	$2.20	2d	1	1.47mi

Listing history 28 events

1. 2022-09-12
   soldstatus $320,000
2. 2022-08-29
   status Pending
3. 2022-08-05
   historical Active Under Contract
4. 2022-07-25
   price $319,900
5. 2022-07-25
   price $329,900
6. 2022-07-17
   price $324,900
7. 2022-07-17
   price $329,900
8. 2022-07-14
   price $329,800
9. 2022-07-06
   listed $329,900 Active
10. 2022-05-06
    historical 397-char remark

    Show marketing remark (397 chars)

    MULTIPLE OFFER NOTIFICATION! Highest and best due by Tuesday, 3/27 @12pm. Attention investors: Very affordable single family home. Minor updates required- flip potential. Open house on Sunday, March 3/27 from 12pm to 2pm. 2 levels of living including 4 bedrooms and 2 full baths. Full yard for entertaining with plenty of parking. Cash buyers and a quick closing preferred. Sold "as-is".

11. 2022-05-04
    soldstatus $225,000
12. 2022-05-03
    soldstatus $225,000 Sold 397-char remark

    Show marketing remark (397 chars)

    MULTIPLE OFFER NOTIFICATION! Highest and best due by Tuesday, 3/27 @12pm. Attention investors: Very affordable single family home. Minor updates required- flip potential. Open house on Sunday, March 3/27 from 12pm to 2pm. 2 levels of living including 4 bedrooms and 2 full baths. Full yard for entertaining with plenty of parking. Cash buyers and a quick closing preferred. Sold "as-is".

13. 2022-04-13
    status Under Agreement 397-char remark

    Show marketing remark (397 chars)

    MULTIPLE OFFER NOTIFICATION! Highest and best due by Tuesday, 3/27 @12pm. Attention investors: Very affordable single family home. Minor updates required- flip potential. Open house on Sunday, March 3/27 from 12pm to 2pm. 2 levels of living including 4 bedrooms and 2 full baths. Full yard for entertaining with plenty of parking. Cash buyers and a quick closing preferred. Sold "as-is".

14. 2022-03-31
    historical Contingent 397-char remark

    Show marketing remark (397 chars)

    MULTIPLE OFFER NOTIFICATION! Highest and best due by Tuesday, 3/27 @12pm. Attention investors: Very affordable single family home. Minor updates required- flip potential. Open house on Sunday, March 3/27 from 12pm to 2pm. 2 levels of living including 4 bedrooms and 2 full baths. Full yard for entertaining with plenty of parking. Cash buyers and a quick closing preferred. Sold "as-is".

15. 2022-03-24
    listed $235,000 Active
16. 2022-03-18
    listed $235,000 New 397-char remark

    Show marketing remark (397 chars)

    MULTIPLE OFFER NOTIFICATION! Highest and best due by Tuesday, 3/27 @12pm. Attention investors: Very affordable single family home. Minor updates required- flip potential. Open house on Sunday, March 3/27 from 12pm to 2pm. 2 levels of living including 4 bedrooms and 2 full baths. Full yard for entertaining with plenty of parking. Cash buyers and a quick closing preferred. Sold "as-is".

17. 2013-12-19
    price $57,500
18. 2010-04-30
    soldstatus $130,000
19. 2010-04-27
    soldstatus $130,000
20. 2010-03-01
    historical
21. 2010-01-23
    listed $139,900
22. 2009-12-10
    soldstatus $51,000
23. 2009-07-29
    historical
24. 2009-03-23
    listed $129,000
25. 2009-03-02
    historical
26. 2009-01-23
    listed $119,900
27. 1997-10-02
    historical
28. 1997-06-04
    listed $69,000

ⓘ 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: $2,796 · $233/mo
• Projected year-2 tax: $4,005 · $334/mo
• Expected delta: +$1,209/yr (+$101/mo · 43.2%)

ⓘ 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 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: $32,076
• − Mortgage interest: −$17,919
• − Property taxes: −$2,796
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − Depreciation: −$9,306
• Taxable loss: −$4,677
• Est. tax savings @ 24.0%: +$1,123
• After-tax cash flow: $1,936/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: Providence
• NCES district ID: 4400900
• Math proficiency: 8% ▼ -4.00%
• Reading proficiency: 16% ▼ -2.00%
• Median HH income: $38,197
• Composite: 10.12/100
• National rank: #9803
• State rank: #34 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

• Census place: Providence, RI
• 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

+363.8% since first listed

28 events — show timeline

• 2022-09-12 Sold (Public Records) $320,000 Public Records
• 2022-08-29 Pending — RIS
• 2022-08-05 Contingent — RIS
• 2022-07-25 Price Changed $319,900 RIS
• 2022-07-25 Price Changed $329,900 RIS
• 2022-07-17 Price Changed $324,900 RIS
• 2022-07-17 Price Changed $329,900 RIS
• 2022-07-14 Price Changed $329,800 RIS
• 2022-07-06 Listed $329,900 RIS
• 2022-05-06 Listing Removed — MLS PIN
• 2022-05-04 Sold (Public Records) $225,000 Public Records
• 2022-05-03 Sold (MLS) $225,000 MLS PIN
• 2022-04-13 Pending — MLS PIN
• 2022-03-31 Contingent — MLS PIN
• 2022-03-24 Listed $235,000 RIS
• 2022-03-18 Listed $235,000 MLS PIN
• 2013-12-19 Price Changed $57,500 RIS
• 2010-04-30 Sold (MLS) $130,000 RIS
• 2010-04-27 Sold (Public Records) $130,000 Public Records
• 2010-03-01 Listing Removed — RIS
• 2010-01-23 Listed $139,900 RIS
• 2009-12-10 Sold (MLS) $51,000 RIS
• 2009-07-29 Listing Removed — RIS
• 2009-03-23 Listed $129,000 RIS
• 2009-03-02 Listing Removed — RIS
• 2009-01-23 Listed $119,900 RIS
• 1997-10-02 Listing Removed — RIS
• 1997-06-04 Listed $69,000 RIS

Property tax history

-3.2%/yr

Latest (2025): $2,796 · -35.7% YoY. Source: county tax records.