148 Superior St · Providence, RI 02909

$669,900

6 bd · 3.0 ba · 2,705 sqft · MultiFamily public records · 29 Days on market

Built 1930 3,049 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 +24.6/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 148 Superior Street! An incredible investment opportunity or perfect for owner-occupants in the beautiful city of Providence! The first floor and finished basement are rented together, providing a generous layout with 3 bedrooms, 1 bath on the first floor and additional living space in the basement perfect for extra storage, a recreation area, or home office. The second floor and finished attic function as a townhome-style rental, featuring 3 bedrooms, 1 bath on the second unit, and extra living space upstairs with 3 beds and 1 bath ideal for extended family or tenants looking for more room. This home is a turnkey investment with great rental income potential. Don't miss out on this unique multi-family opportunity!

Key facts

• Convenient access
• Finished basement
• Private yard

Tags

• FINISHED BASEMENT
• PRIVATE YARD
• CONVENIENT ACCESS

Property features AI

Finance

• Financial info: Operating expenses reported as $5,000; Rents reported: one unit at $3,850, the other at $2,050
• HOA & community: Community amenities nearby include golf, marina, pool, public transportation, recreation area, restaurants, shopping, tennis courts, highway access, and proximity to hospital and schools

Exterior

• Parking: No garage; Space for 4 vehicles (total)
• Utilities: Public water connected; Public sewer connected; 100 amp electric service
• Home design: Two-unit residential building; Single building
• Construction: Vinyl siding
• Exterior features: Public sewer connected

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Two-unit building: one unit with 6 bedrooms, one unit with 3 bedrooms
• Flooring: Ceramic tile; Vinyl flooring
• Bathrooms: Three full bathrooms total; Unit breakdown: first unit has 2 full bathrooms; second unit has 1 full bathroom
• Heating & cooling: Gas baseboard heating
• Interior features: Finished full basement with interior and exterior entry; 13 total rooms

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $670k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $670k).
• Recommended offer: $660k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+3.7%/yr); 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $7,002/mo this rent would consume 130% of the median local household income ($65k/yr) (locally 2000% 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 $5k 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 29 days — a 2% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $659,851 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.84%
• DSCR: 1.39
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-15,924
• Equity at exit: $99,884

10-year hold

• IRR: 8.1%
• Equity multiple: 1.63×
• Total profit: $118,739
• Equity at exit: $57,921

Cash invested: $187,572 (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 02909

• Home prices YoY: -13.3%
• Rents YoY: 3.7%
• Active inventory: 132
• Price-to-rent: 23.9×

Monthly cashflow live

• Estimated rent: $7,002 high
• Mortgage (P&I): −$3,513
• Tax from tax record: −$358 /mo · $4,294/yr
• Insurance: −$279
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,470
• Net cashflow: $1,382

Break-even live

Break-even rent $5,253

Max offer price $669,900

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$7,002
Total (3 units)			$7,002

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: $167,475
• Closing costs: $20,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	17d	1	1.38mi

Listing history 13 events

1. 2026-04-22
   status Pending
2. 2026-04-09
   price $669,900
3. 2026-04-02
   price $679,900
4. 2026-03-23
   listed $689,900 Active
5. 2026-03-20
   historical
6. 2026-03-05
   listed $720,000 Active
7. 2025-04-17
   soldstatus $645,000 Closed 735-char remark

   Show marketing remark (735 chars)

   Welcome to 148 Superior Street! An incredible investment opportunity or perfect for owner-occupants in the beautiful city of Providence! The first floor and finished basement are rented together, providing a generous layout with 3 bedrooms, 1 bath on the first floor and additional living space in the basement perfect for extra storage, a recreation area, or home office. The second floor and finished attic function as a townhome-style rental, featuring 3 bedrooms, 1 bath on the second unit, and extra living space upstairs with 3 beds and 1 bath ideal for extended family or tenants looking for more room. This home is a turnkey investment with great rental income potential. Don't miss out on this unique multi-family opportunity!

8. 2025-04-17
   soldstatus $645,000

   Show marketing remark (735 chars)

   Welcome to 148 Superior Street! An incredible investment opportunity or perfect for owner-occupants in the beautiful city of Providence! The first floor and finished basement are rented together, providing a generous layout with 3 bedrooms, 1 bath on the first floor and additional living space in the basement perfect for extra storage, a recreation area, or home office. The second floor and finished attic function as a townhome-style rental, featuring 3 bedrooms, 1 bath on the second unit, and extra living space upstairs with 3 beds and 1 bath ideal for extended family or tenants looking for more room. This home is a turnkey investment with great rental income potential. Don't miss out on this unique multi-family opportunity!

9. 2025-04-15
   status Pending 735-char remark

   Show marketing remark (735 chars)

   Welcome to 148 Superior Street! An incredible investment opportunity or perfect for owner-occupants in the beautiful city of Providence! The first floor and finished basement are rented together, providing a generous layout with 3 bedrooms, 1 bath on the first floor and additional living space in the basement perfect for extra storage, a recreation area, or home office. The second floor and finished attic function as a townhome-style rental, featuring 3 bedrooms, 1 bath on the second unit, and extra living space upstairs with 3 beds and 1 bath ideal for extended family or tenants looking for more room. This home is a turnkey investment with great rental income potential. Don't miss out on this unique multi-family opportunity!

10. 2025-03-27
    historical Active Under Contract 735-char remark

    Show marketing remark (735 chars)

    Welcome to 148 Superior Street! An incredible investment opportunity or perfect for owner-occupants in the beautiful city of Providence! The first floor and finished basement are rented together, providing a generous layout with 3 bedrooms, 1 bath on the first floor and additional living space in the basement perfect for extra storage, a recreation area, or home office. The second floor and finished attic function as a townhome-style rental, featuring 3 bedrooms, 1 bath on the second unit, and extra living space upstairs with 3 beds and 1 bath ideal for extended family or tenants looking for more room. This home is a turnkey investment with great rental income potential. Don't miss out on this unique multi-family opportunity!

11. 2025-03-18
    price $634,900 735-char remark

    Show marketing remark (735 chars)

    Welcome to 148 Superior Street! An incredible investment opportunity or perfect for owner-occupants in the beautiful city of Providence! The first floor and finished basement are rented together, providing a generous layout with 3 bedrooms, 1 bath on the first floor and additional living space in the basement perfect for extra storage, a recreation area, or home office. The second floor and finished attic function as a townhome-style rental, featuring 3 bedrooms, 1 bath on the second unit, and extra living space upstairs with 3 beds and 1 bath ideal for extended family or tenants looking for more room. This home is a turnkey investment with great rental income potential. Don't miss out on this unique multi-family opportunity!

12. 2025-03-04
    listed $649,900 Active 735-char remark

    Show marketing remark (735 chars)

    Welcome to 148 Superior Street! An incredible investment opportunity or perfect for owner-occupants in the beautiful city of Providence! The first floor and finished basement are rented together, providing a generous layout with 3 bedrooms, 1 bath on the first floor and additional living space in the basement perfect for extra storage, a recreation area, or home office. The second floor and finished attic function as a townhome-style rental, featuring 3 bedrooms, 1 bath on the second unit, and extra living space upstairs with 3 beds and 1 bath ideal for extended family or tenants looking for more room. This home is a turnkey investment with great rental income potential. Don't miss out on this unique multi-family opportunity!

13. 2024-04-10
    soldstatus $405,000

ⓘ 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: $4,294 · $358/mo
• Projected year-2 tax: $7,607 · $634/mo
• Expected delta: +$3,313/yr (+$276/mo · 77.1%)

ⓘ 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 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: $84,024
• − Mortgage interest: −$37,525
• − Property taxes: −$4,294
• − Insurance: −$3,350
• − Repairs & maintenance: −$6,722
• − Management: −$6,722
• − Depreciation: −$19,488
• Taxable income: $5,924
• Est. tax owed @ 24.0%: −$1,422
• After-tax cash flow: $15,157/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): 46,014
• Household income: $64,649
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 2000.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 23% White 22% Black 12% Asian 2% Native American 2%
• Hispanic origin (detail): Puerto Rican 12% Dominican 23%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica
• Languages at home: 43% English-only · Spanish 50% Other Indo-European 2% Other Asian/Pacific 1%

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: ▼ -72.78%
• Current HPI: 474.9956
• Rent YoY: ▲ 3.68%
• 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

+65.4% since first listed

13 events — show timeline

• 2026-04-22 Pending — RIS
• 2026-04-09 Price Changed $669,900 RIS
• 2026-04-02 Price Changed $679,900 RIS
• 2026-03-23 Listed $689,900 RIS
• 2026-03-20 Listing Removed — RIS
• 2026-03-05 Listed $720,000 RIS
• 2025-04-17 Sold (Public Records) $645,000 Public Records
• 2025-04-17 Sold (MLS) $645,000 RIS
• 2025-04-15 Pending — RIS
• 2025-03-27 Contingent — RIS
• 2025-03-18 Price Changed $634,900 RIS
• 2025-03-04 Listed $649,900 RIS
• 2024-04-10 Sold (Public Records) $405,000 Public Records

Property tax history

-2.7%/yr

Latest (2025): $4,294 · -49.0% YoY. Source: county tax records.