6 Dorr St · Providence, RI 02908

$529,900

6 bd · 2.0 ba · 1,736 sqft · MultiFamily public records · 24 Days on market

Built 1900 3,200 sqft lot

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• 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 MLS

Conveniently located two-family home in Providence on a dead-end street. Both units offer identical layouts: eat-in kitchen, living room, 3 beds, and 1 full bath. Features include a 1 year young roof, vinyl sided exterior, separate utilities, and gas heat and hot water. Lead certificates are in place for both units. Off-street parking and a detached two-car garage add everyday convenience. Ideal for owner occupants or investors alike. Property is being sold in as-is condition.

Key facts

• Updated kitchen
• 3,200 sq ft lot
• 2 garage spots

Tags

• UPDATED KITCHEN
• LESS THAN 2 YEARS OLD ROOF

Property features AI

Exterior

• Parking: Detached garage; 2 covered parking spaces; 6 total parking spaces
• Utilities: Public water; Public sewer (connected); Electric service 100 amps
• Home design: Two separate buildings; Two total units; Above-grade finished area approximately 2,688
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.0735 acres (about 3,200 sq ft)

Interior

• Flooring: Ceramic tile; Hardwood; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas baseboard heating
• Interior features: Full unfinished basement with interior entry; 12 total rooms
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $530k.

Deal economics

• At list price, monthly cash flow is $697 ($8k/yr) — positive. Per door: $349/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 $527k (0.6% below list).
• Recommended offer: $522k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.0% 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 (+5.5%/yr); 162 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $5,268/mo this rent would consume 87% of the median local household income ($73k/yr) (locally 1561% 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 $16k 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 24 days — a 2% lower offer ($522k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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 $355k; 49% 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 $521,951 (1.5% below list)

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 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?
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: 0.99% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-28,147
• Equity at exit: $79,010

10-year hold

• IRR: 7.3%
• Equity multiple: 1.61×
• Total profit: $90,149
• Equity at exit: $45,816

Cash invested: $148,372 (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 02908

• Home prices YoY: -27.1%
• Rents YoY: 5.5%
• Active inventory: 162
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $5,268 high
• Mortgage (P&I): −$2,779
• Tax from tax record: −$465 /mo · $5,579/yr
• Insurance: −$221
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,106
• Net cashflow: $697

Break-even live

Break-even rent $4,386

Max offer price $529,900

Occupancy floor 82%

Sensitivity live

Price	-10% $997	-5% $847	+0% $697	+5% $547	+10% $397
Rent	-10% $281	-5% $489	+0% $697	+5% $905	+10% $1,113
Rate	-1.0pp $964	-0.5pp $832	base $697	+0.5pp $560	+1.0pp $420

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$5,268
Total (2 units)			$5,268

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: $132,475
• Closing costs: $15,897
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-18
   days on market $529,900 Active 24 DOM
2. 2026-06-17
   days on market $529,900 Active 23 DOM
3. 2026-06-16
   days on market $529,900 Active 22 DOM
4. 2026-06-15
   days on market $529,900 Active 21 DOM
5. 2026-06-13
   days on market $529,900 Active 19 DOM
6. 2026-06-09
   days on market $529,900 Active 15 DOM
7. 2026-06-08
   days on market $529,900 Active 14 DOM
8. 2026-06-07
   days on market $529,900 Active 13 DOM
9. 2026-06-05
   remarks 374-char remark
10. 2026-06-05
    days on market $529,900 Active 10 DOM
11. 2026-06-03
    days on market $529,900 Active 9 DOM
12. 2026-06-02
    days on market $529,900 Active 8 DOM
13. 2026-06-01
    days on market $529,900 Active 7 DOM
14. 2026-05-31
    days on market $529,900 Active 6 DOM
15. 2026-05-25
    listed $529,900 Active
16. 2026-03-03
    soldstatus $355,000 Closed 481-char remark

    Show marketing remark (481 chars)

    Conveniently located two-family home in Providence on a dead-end street. Both units offer identical layouts: eat-in kitchen, living room, 3 beds, and 1 full bath. Features include a 1 year young roof, vinyl sided exterior, separate utilities, and gas heat and hot water. Lead certificates are in place for both units. Off-street parking and a detached two-car garage add everyday convenience. Ideal for owner occupants or investors alike. Property is being sold in as-is condition.

17. 2026-02-10
    listed $375,000 481-char remark

    Show marketing remark (481 chars)

    Conveniently located two-family home in Providence on a dead-end street. Both units offer identical layouts: eat-in kitchen, living room, 3 beds, and 1 full bath. Features include a 1 year young roof, vinyl sided exterior, separate utilities, and gas heat and hot water. Lead certificates are in place for both units. Off-street parking and a detached two-car garage add everyday convenience. Ideal for owner occupants or investors alike. Property is being sold in as-is condition.

18. 2026-02-10
    historical 481-char remark

    Show marketing remark (481 chars)

    Conveniently located two-family home in Providence on a dead-end street. Both units offer identical layouts: eat-in kitchen, living room, 3 beds, and 1 full bath. Features include a 1 year young roof, vinyl sided exterior, separate utilities, and gas heat and hot water. Lead certificates are in place for both units. Off-street parking and a detached two-car garage add everyday convenience. Ideal for owner occupants or investors alike. Property is being sold in as-is condition.

19. 2026-02-06
    historical
20. 2026-02-02
    listed $415,000 Active
21. 2013-12-19
    price $39,300
22. 2012-11-13
    soldstatus $35,000
23. 2012-11-09
    soldstatus $35,000
24. 2012-10-21
    historical
25. 2012-06-05
    listed $49,400
26. 2007-01-22
    soldstatus $178,000
27. 2006-11-30
    historical
28. 2006-10-06
    listed $193,900
29. 2002-10-08
    soldstatus $101,000
30. 2002-10-08
    soldstatus $101,000
31. 2002-10-07
    soldstatus $100,927
32. 2002-05-21
    historical
33. 2001-11-13
    listed $99,927

ⓘ 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: $5,579 · $465/mo
• Projected year-2 tax: $7,108 · $592/mo
• Expected delta: +$1,529/yr (+$127/mo · 27.4%)

ⓘ 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: $63,216
• − Mortgage interest: −$29,683
• − Property taxes: −$5,579
• − Insurance: −$2,650
• − Repairs & maintenance: −$5,057
• − Management: −$5,057
• − Depreciation: −$15,415
• Taxable loss: −$225
• Est. tax savings @ 24.0%: +$54
• After-tax cash flow: $8,420/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): 39,500
• Household income: $73,081
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1561.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 33% Two or more races 22% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 16%
• Common ancestry: Swiss 4% Hispanic 3% Russian 3%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 53% English-only · Spanish 36% French/Haitian/Cajun 4% Other Indo-European 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: ▼ -151.12%
• Current HPI: 407.0502
• Rent YoY: ▲ 5.46%
• 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

+430.3% since first listed

19 events — show timeline

• 2026-05-25 Listed $529,900 RIS
• 2026-03-03 Sold (MLS) $355,000 RIS
• 2026-02-10 Listing Removed — RIS
• 2026-02-10 Listed $375,000 RIS
• 2026-02-06 Listing Removed — RIS
• 2026-02-02 Listed $415,000 RIS
• 2013-12-19 Price Changed $39,300 RIS
• 2012-11-13 Sold (Public Records) $35,000 Public Records
• 2012-11-09 Sold (MLS) $35,000 RIS
• 2012-10-21 Listing Removed — RIS
• 2012-06-05 Listed $49,400 RIS
• 2007-01-22 Sold (MLS) $178,000 RIS
• 2006-11-30 Listing Removed — RIS
• 2006-10-06 Listed $193,900 RIS
• 2002-10-08 Sold (Public Records) $101,000 Public Records
• 2002-10-08 Sold (Public Records) $101,000 Public Records
• 2002-10-07 Sold (MLS) $100,927 RIS
• 2002-05-21 Listing Removed — RIS
• 2001-11-13 Listed $99,927 RIS

Property tax history

+3.0%/yr

Latest (2025): $5,579 · +10.8% YoY. Source: county tax records.