83 Chaplin St · Pawtucket, RI 02861

$500,000

4 bd · 4.0 ba · 2,782 sqft · MultiFamily public records · 10 Days on market

Built 1920 5,790 sqft lot Est $512k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.5/15.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fantastic Pawtucket multi-family on corner lot! Features four bright & cozy units, vinyl siding and detached garage! So much potential!

Key facts

• 5,790 sq ft lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $500k).
• Cap rate 16.6% vs local median 3.8% in Pawtucket — 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 71/100 on livability (#16 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, schools D, amenities F.
• Pawtucket (suburban): math 7% / reading 19% proficiency, ranked #33 of 39 in RI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.6%/yr); 95 active listings in the ZIP; solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $9,728/mo this rent would consume 140% of the median local household income ($83k/yr) (locally 891% 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $140k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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 1920 — 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 $500,000

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 1920 — 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: 1.95% ✓
• Cap rate: 16.58%
• Cash-on-cash: 36.74%
• DSCR: 2.63
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $511,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
252 254 Vine St	0.68mi	4/2.0	2,793 (+0%)	1mo	$499,000	$179	59
314 Kenyon Ave	0.37mi	4/2.0	2,878 (+4%)	14mo	$510,000	$177	58
368 Kenyon Ave	0.39mi	5/2.0 (+1)	2,846 (+2%)	12mo	$525,000	$184	55
41 Dawson St	0.37mi	3/3.0 (-1)	2,736 (-2%)	21mo	$525,000	$192	54
130 Hunts Ave	0.37mi	5/3.0 (+1)	2,587 (-7%)	11mo	$604,000	$233	53
79 Slade St	0.26mi	4/2.0	2,584 (-7%)	21mo	$490,000	$190	51
163 Robinson Ave	0.27mi	4/3.0	3,112 (+12%)	18mo	$520,000	$167	49
43 Kenyon Ave	0.39mi	4/2.0	2,458 (-12%)	12mo	$450,000	$183	44
148 150 Flint St	0.43mi	3/2.0 (-1)	2,560 (-8%)	18mo	$515,000	$201	39
57 59 Grand Ave	0.67mi	4/2.0	3,160 (+14%)	8mo	$535,000	$169	32
72 Benefit St	0.58mi	5/2.0 (+1)	2,925 (+5%)	24mo	$413,000	$141	32
44 Home St	0.59mi	5/3.0 (+1)	2,434 (-12%)	18mo	$590,000	$242	28

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 · 5.57% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 2.56×
• Total profit: $217,873
• Equity at exit: $74,552

10-year hold

• IRR: 43.5%
• Equity multiple: 5.67×
• Total profit: $653,284
• Equity at exit: $43,231

Cash invested: $140,000 (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 02861

• Rents YoY: 5.6%
• Active inventory: 95
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $9,728 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$569 /mo · $6,824/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,043
• Net cashflow: $4,286

Break-even live

Break-even rent $4,303

Max offer price $500,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$9,728
Total (4 units)			$9,728

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2022-08-04
   soldstatus $520,000
2. 2022-06-28
   status Pending
3. 2022-06-17
   listed $500,000 Active
4. 2022-06-16
   historical
5. 2022-06-08
   listed $579,900 Active
6. 2017-04-20
   soldstatus $142,013 Sold 139-char remark

   Show marketing remark (139 chars)

   Fantastic Pawtucket multi-family on corner lot! Features four bright & cozy units, vinyl siding and detached garage! So much potential!

7. 2017-04-20
   soldstatus $142,013 Sold

   Show marketing remark (139 chars)

   Fantastic Pawtucket multi-family on corner lot! Features four bright & cozy units, vinyl siding and detached garage! So much potential!

8. 2017-03-03
   status Pending
9. 2017-02-01
   historical Active - Under Contract
10. 2017-01-30
    status Contingent 139-char remark

    Show marketing remark (139 chars)

    Fantastic Pawtucket multi-family on corner lot! Features four bright & cozy units, vinyl siding and detached garage! So much potential!

11. 2017-01-16
    listed $109,900 New 139-char remark

    Show marketing remark (139 chars)

    Fantastic Pawtucket multi-family on corner lot! Features four bright & cozy units, vinyl siding and detached garage! So much potential!

12. 2017-01-16
    listed $109,900 Active - New

    Show marketing remark (139 chars)

    Fantastic Pawtucket multi-family on corner lot! Features four bright & cozy units, vinyl siding and detached garage! So much potential!

ⓘ 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: $6,824 · $569/mo
• Projected year-2 tax: $7,487 · $624/mo
• Expected delta: +$663/yr (+$55/mo · 9.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°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: $116,736
• − Mortgage interest: −$28,008
• − Property taxes: −$6,824
• − Insurance: −$2,500
• − Repairs & maintenance: −$9,339
• − Management: −$9,339
• − Depreciation: −$14,545
• Taxable income: $46,181
• Est. tax owed @ 24.0%: −$11,083
• After-tax cash flow: $40,349/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: Pawtucket
• NCES district ID: 4400840
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $41,838
• Composite: 11.29/100
• National rank: #9718
• State rank: #33 of 39 in RI

Livability — Pawtucket

• Score: 71/100
• State rank: #16
• US rank: #7037

Category grades

Amenities F Commute F 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: Pawtucket, RI
• County: Providence County · 548,917 people
• City population: 75,942
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 28,124
• Household income: $83,411
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 891.0

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 0.59)
• Race & ethnicity: White 61% Hispanic / Latino 18% Two or more races 13% Black 10% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 4%
• Common ancestry: Russian 11% Lithuanian 10% Romanian 4%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 13% Other Indo-European 9% French/Haitian/Cajun 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: ▼ -469.15%
• Current HPI: 313.2295
• Rent YoY: ▲ 5.57%
• 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

+373.2% since first listed

12 events — show timeline

• 2022-08-04 Sold (Public Records) $520,000 Public Records
• 2022-06-28 Pending — RIS
• 2022-06-17 Listed $500,000 RIS
• 2022-06-16 Listing Removed — RIS
• 2022-06-08 Listed $579,900 RIS
• 2017-04-20 Sold (MLS) $142,013 RIS
• 2017-04-20 Sold (MLS) $142,013 MLS PIN
• 2017-03-03 Pending — RIS
• 2017-02-01 Contingent — RIS
• 2017-01-30 Pending — MLS PIN
• 2017-01-16 Listed $109,900 MLS PIN
• 2017-01-16 Listed $109,900 RIS

Property tax history

+5.3%/yr

Latest (2025): $6,824 · +6.6% YoY. Source: county tax records.