301 Bulgarmarsh Rd · Tiverton, RI 02878

$114,900

2 bd · 1.0 ba · 672 sqft · SingleFamily · 40 Days on market

Built 1971 $295/mo HOA · 13% of rent

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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 +7.5/15.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tiverton gem! This 2 bedroom one bath mobile home located in the well-established Dadson Estates Community. It's situated on a corner lot. The open floor plan includes a eat in kitchen, dinning area, spacious living room. Conveniently located near highways and shopping.

Key facts

• Open floor plan
• Eat in kitchen
• Dining area

Tags

• CORNER LOT
• OPEN FLOOR PLAN
• EAT IN KITCHEN
• DINING AREA
• SPACIOUS LIVING ROOM
• WELL ESTABLISHED COMMUNITY

Property features AI

Finance

• Other: Listing status: Active
• Financial info: Annual tax amount listed (not included per instructions)
• HOA & community: Homeowners association membership required; Association fee of $295; Community features include highway access, house of worship nearby, and public school access; Not a senior community

Exterior

• Parking: 1 off-street parking space
• Security: Not specified
• Utilities: Public water; Private sewer; 100 amp electric service
• Home design: Mobile home; House structure; White exterior; Entry level not specified; Facing direction not specified
• Construction: Modular construction; Slab foundation; Rubber roof; Built year per public records (actual year not provided)
• Exterior features: Corner lot; Private road frontage; Storage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Not specified
• Flooring: Vinyl flooring; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Oil heating; Has heating
• Interior features: Total of 4 rooms; Storage included
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 3.5% in Tiverton — 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 61/100 on livability (#28 in RI) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: schools C-, cost of living D+, amenities F.
• Tiverton (rural): math 35% / reading 49% proficiency, ranked #14 of 39 in RI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 91 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 94 units permitted in Newport County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Newport County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 16y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.02% ✓
• Cap rate: 14.09%
• Cash-on-cash: 27.85%
• DSCR: 2.24
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.1%
• Equity multiple: 1.91×
• Total profit: $29,157
• Equity at exit: $17,132

10-year hold

• IRR: 30.2%
• Equity multiple: 3.72×
• Total profit: $87,509
• Equity at exit: $9,934

Cash invested: $32,172 (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 02878

• Home prices YoY: -23.3%
• Active inventory: 91
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,324 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$295
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $747

Break-even live

Break-even rent $1,379

Max offer price $114,900

Occupancy floor 63%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 William Barton Dr Tiverton, RI	2.0	1.0	700	$2,500	$3.57	43d	1	0.23mi

HOA detail

• Monthly dues: $295 · $3,540/yr

Listing history 50 events

1. 2026-06-18
   days on market $114,900 Active 40 DOM
2. 2026-06-17
   days on market $114,900 Active 39 DOM
3. 2026-06-16
   days on market $114,900 Active 38 DOM
4. 2026-06-15
   days on market $114,900 Active 37 DOM
5. 2026-06-13
   days on market $114,900 Active 35 DOM
6. 2026-06-13
   days on market $114,900 Active 34 DOM
7. 2026-06-09
   days on market $114,900 Active 31 DOM
8. 2026-06-08
   days on market $114,900 Active 30 DOM
9. 2026-06-07
   statusdays on market $114,900 Active 29 DOM
10. 2026-06-05
    days on market $114,900 Price Changed 26 DOM
11. 2026-06-03
    days on market $114,900 Price Changed 25 DOM
12. 2026-06-02
    pricestatusdays on market $114,900 Price Changed 24 DOM

    Show marketing remark (271 chars)

    Tiverton gem! This 2 bedroom one bath mobile home located in the well-established Dadson Estates Community. It's situated on a corner lot. The open floor plan includes a eat in kitchen, dinning area, spacious living room. Conveniently located near highways and shopping.

13. 2026-06-01
    days on market $129,900 Active 23 DOM
14. 2026-05-31
    days on market $129,900 Active 22 DOM
15. 2026-05-08
    listed $129,900 New 272-char remark

    Show marketing remark (271 chars)

    Tiverton gem! This 2 bedroom one bath mobile home located in the well-established Dadson Estates Community. It's situated on a corner lot. The open floor plan includes a eat in kitchen, dinning area, spacious living room. Conveniently located near highways and shopping.

16. 2026-05-08
    listed $129,900 Active 271-char remark

    Show marketing remark (271 chars)

    Tiverton gem! This 2 bedroom one bath mobile home located in the well-established Dadson Estates Community. It's situated on a corner lot. The open floor plan includes a eat in kitchen, dinning area, spacious living room. Conveniently located near highways and shopping.

17. 2026-04-24
    soldstatus $118,000 Closed

    Show marketing remark (301 chars)

    Located in the well-established Dadson Estates community in Tiverton, this 1-bedroom home is situated on a corner lot. The open floor plan includes an eat-in kitchen, dining area, and spacious living room. Conveniently located near highways and shopping. Buyer approval by park management is required.

18. 2026-03-11
    status Pending

    Show marketing remark (301 chars)

    Located in the well-established Dadson Estates community in Tiverton, this 1-bedroom home is situated on a corner lot. The open floor plan includes an eat-in kitchen, dining area, and spacious living room. Conveniently located near highways and shopping. Buyer approval by park management is required.

19. 2026-03-03
    historical Active Under Contract

    Show marketing remark (301 chars)

    Located in the well-established Dadson Estates community in Tiverton, this 1-bedroom home is situated on a corner lot. The open floor plan includes an eat-in kitchen, dining area, and spacious living room. Conveniently located near highways and shopping. Buyer approval by park management is required.

20. 2026-02-27
    listed $125,000 Active

    Show marketing remark (301 chars)

    Located in the well-established Dadson Estates community in Tiverton, this 1-bedroom home is situated on a corner lot. The open floor plan includes an eat-in kitchen, dining area, and spacious living room. Conveniently located near highways and shopping. Buyer approval by park management is required.

21. 2025-06-23
    soldstatus $155,000 Closed
22. 2025-05-22
    status Pending
23. 2025-05-03
    listed $150,000 Active
24. 2019-09-20
    price $43,000
25. 2019-09-20
    price $99,900
26. 2019-07-02
    soldstatus $83,500 Sold
27. 2019-05-20
    status Pending
28. 2019-05-06
    listed $84,999 Active
29. 2016-11-08
    price $64,900
30. 2016-11-08
    price $112,000
31. 2015-09-16
    soldstatus $53,500 Sold
32. 2015-09-14
    soldstatus $18,500 Sold
33. 2015-08-17
    status Pending
34. 2015-07-10
    status Pending
35. 2015-06-09
    listed $54,900 Active - New
36. 2015-05-19
    price $29,900
37. 2015-04-16
    price $49,900
38. 2015-03-31
    listed $53,900 Active - New
39. 2015-03-30
    historical
40. 2015-03-23
    historical
41. 2015-02-05
    listed $53,900 Active - New
42. 2014-11-24
    listed $59,900 Active - New
43. 2013-12-19
    price $39,900
44. 2013-09-30
    soldstatus $47,000
45. 2013-06-26
    soldstatus $47,000
46. 2013-05-14
    historical
47. 2013-05-13
    historical
48. 2013-02-21
    listed $59,900
49. 2013-02-21
    listed $59,900
50. 2013-02-01
    soldstatus $50,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $27,885
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$2,231
• − Management: −$2,231
• − HOA: −$3,540
• − Depreciation: −$3,343
• Taxable income: $7,807
• Est. tax owed @ 24.0%: −$1,874
• After-tax cash flow: $7,087/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: Tiverton
• NCES district ID: 4401050
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 49% ▬ 0.00%
• Median HH income: $67,472
• Composite: 37.77/100
• National rank: #4347
• State rank: #14 of 39 in RI

Livability — Tiverton

• Score: 61/100
• State rank: #28
• US rank: #17481

Category grades

Amenities F Commute F Cost of living D+ Crime A+ Employment A- Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newport County · 73,957 people
• City population: 16,189
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 16,189
• Household income: $106,036
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 201.0

Population outlook (Newport County) Hauer SSP2

• Today (2025): 81,198 people
• By 2030: 79,518 · -2.1%
• By 2040: 75,581 · -6.9%
• By 2050: 71,801 · -11.6%
• By 2075: 64,618 · -20.4%
• By 2100: 56,724 · -30.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Russian 30% Lithuanian 15% Romanian 4%
• Foreign-born: 7% · Canada
• Languages at home: 92% English-only · Other Indo-European 5% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Newport

• 2024 margin: Strong D (+25.5) · D 61.6% · R 36.1% · Other 2.2%
• 2008→2024 swing: +2.2pp toward D · 2008: 23.3pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+29.8 2016: D+19.4 2012: D+17.7 2008: D+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.16%
• Current HPI: 362.7711
• Rent YoY: —
• 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

+101.6% since first listed

51 events — show timeline

• 2026-06-02 Price Changed $114,900 RIS
• 2026-06-02 Price Changed $114,900 MLS PIN
• 2026-05-08 Listed $129,900 RIS
• 2026-05-08 Listed $129,900 MLS PIN
• 2026-04-24 Sold (MLS) $118,000 RIS
• 2026-03-11 Pending — RIS
• 2026-03-03 Contingent — RIS
• 2026-02-27 Listed $125,000 RIS
• 2025-06-23 Sold (MLS) $155,000 RIS
• 2025-05-22 Pending — RIS
• 2025-05-03 Listed $150,000 RIS
• 2019-09-20 Price Changed $43,000 RIS
• 2019-09-20 Price Changed $99,900 RIS
• 2019-07-02 Sold (MLS) $83,500 RIS
• 2019-05-20 Pending — RIS
• 2019-05-06 Listed $84,999 RIS
• 2016-11-08 Price Changed $112,000 RIS
• 2016-11-08 Price Changed $64,900 RIS
• 2015-09-16 Sold (MLS) $53,500 RIS
• 2015-09-14 Sold (MLS) $18,500 RIS
• 2015-08-17 Pending — RIS
• 2015-07-10 Pending — RIS
• 2015-06-09 Listed $54,900 RIS
• 2015-05-19 Price Changed $29,900 RIS
• 2015-04-16 Price Changed $49,900 RIS
• 2015-03-31 Listed $53,900 RIS
• 2015-03-30 Listing Removed — RIS
• 2015-03-23 Listing Removed — RIS
• 2015-02-05 Listed $53,900 RIS
• 2014-11-24 Listed $59,900 RIS
• 2013-12-19 Price Changed $39,900 RIS
• 2013-09-30 Sold (MLS) $47,000 RIS
• 2013-06-26 Sold (MLS) $47,000 MLS PIN
• 2013-05-14 Listing Removed — RIS
• 2013-05-13 Listing Removed — MLS PIN
• 2013-02-21 Listed $59,900 RIS
• 2013-02-21 Listed $59,900 MLS PIN
• 2013-02-01 Sold (MLS) $50,000 RIS
• 2013-01-11 Listing Removed — RIS
• 2012-12-08 Sold (MLS) $32,500 RIS
• 2012-10-12 Listed $78,500 RIS
• 2012-08-29 Listing Removed — RIS
• 2012-07-31 Listed $39,900 RIS
• 2012-07-25 Listing Removed — RIS
• 2012-04-28 Listed $49,900 RIS
• 2011-09-30 Listing Removed — RIS
• 2011-05-26 Listed $97,500 RIS
• 2011-03-31 Listing Removed — RIS
• 2010-09-17 Listed $41,900 RIS
• 2010-07-21 Listing Removed — RIS
• 2010-06-15 Listed $57,000 RIS