1300 Hope St · Warwick, RI 02809

$739,000

6 bd · 2.0 ba · 2,408 sqft · MultiFamily public records · 29 Days on market

Built 1927 10,019 sqft lot Est $766k · at est.

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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 +18.9/30.0
• ARV discount +9.1/15.0
• DSCR +6.0/10.0
• Rent growth +4.5/5.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• 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

Multi Family on the West Side of Bristol, 3 Bed Rooms and one Bath in each Unit. All the basics are here, New Roof with a Lifetime Warranty, New Boilers for each Unit, New Hot Water Tanks, New Wiring in 2016 and Vinyl Siding. There is gas on the Property but not in use. Both Units will need some Cosmetics. Subject to Probate Court Approval.

Key facts

• Brand-new roof
• Updated kitchens
• Prime location

Tags

• MULTI-FAMILY PROPERTY
• TURNKEY
• BRAND-NEW ROOF
• UPDATED KITCHENS
• PRIME LOCATION
• EASY ACCESS TO LOCAL SHOPS

Property features AI

Finance

• Financial info: Operating expenses reported at $12,000; Both units currently rent for $2,500 each
• HOA & community: Community amenities nearby: golf, marina, pool, public transportation, recreation area, restaurant, shopping, tennis courts

Exterior

• Parking: No garage; Total of 6 parking spaces
• Utilities: Sewer connected; Water connected; Electrical service 200+ amps
• Home design: 2-story building; Single building containing 2 units; Above-grade finished area approximately 2,408
• Construction: Drywall and vinyl siding construction
• Exterior features: Front porch

Interior

• Kitchen: Range; Oven; Microwave; Refrigerator; Disposal
• Bedrooms: Two 3-bedroom units (each unit: 3 bedrooms)
• Flooring: Hardwood
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Oil heating; Steam heating
• Interior features: Interior steps; Stall shower; Hardwood floors; Full unfinished basement with interior and exterior entry
• Laundry & utility: In-unit laundry (washer and dryer); Electric water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $739k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/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 $682k (7.7% below list).
• Recommended offer: $682k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.7% in Warwick — 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 78/100 on livability (#6 in RI, #2,425 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing A+; Watch: schools D+, amenities F.
• Bristol Warren (suburban): math 28% / reading 49% proficiency, ranked #18 of 39 in RI (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+8.2%/yr); 80 active listings in the ZIP; solid renter incomes; 29 units permitted in Bristol County in 2024 (0 in 5+ unit buildings).
• At $6,820/mo this rent would consume 84% of the median local household income ($98k/yr) (locally 649% 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 $22k of value loss. Plan a longer hold.
• Bristol 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 + 8.0% rent growth), your $207k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $510k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• 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 $682,000 (7.7% below list)

Questions for the listing agent

1. Built in 1927 — 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 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?
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: 0.92% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $765,744
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1300 Hope St	0.00mi	6/2.0	2,408 (0%)	0mo	$765,000	$318	100

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-35,637
• Equity at exit: $110,187

10-year hold

• IRR: 10.0%
• Equity multiple: 1.94×
• Total profit: $194,381
• Equity at exit: $63,895

Cash invested: $206,920 (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 02809

• Home prices YoY: -30.2%
• Rents YoY: 8.2%
• Active inventory: 80
• Price-to-rent: 27.1×

Monthly cashflow live

• Estimated rent: $6,820 medium
• Mortgage (P&I): −$3,875
• Tax from tax record: −$447 /mo · $5,361/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,432
• Net cashflow: $758

Break-even live

Break-even rent $5,861

Max offer price $739,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,176	-5% $967	+0% $758	+5% $549	+10% $339
Rent	-10% $219	-5% $488	+0% $758	+5% $1,027	+10% $1,297
Rate	-1.0pp $1,130	-0.5pp $946	base $758	+0.5pp $566	+1.0pp $371

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,819
Total (3 units)			$6,820

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: $184,750
• Closing costs: $22,170
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-05
   historical Active Under Contract
2. 2026-04-21
   listed $739,000 Active
3. 2022-12-01
   soldstatus $510,000 Closed 343-char remark

   Show marketing remark (343 chars)

   Multi Family on the West Side of Bristol, 3 Bed Rooms and one Bath in each Unit. All the basics are here, New Roof with a Lifetime Warranty, New Boilers for each Unit, New Hot Water Tanks, New Wiring in 2016 and Vinyl Siding. There is gas on the Property but not in use. Both Units will need some Cosmetics. Subject to Probate Court Approval.

4. 2022-12-01
   soldstatus $510,000

   Show marketing remark (343 chars)

   Multi Family on the West Side of Bristol, 3 Bed Rooms and one Bath in each Unit. All the basics are here, New Roof with a Lifetime Warranty, New Boilers for each Unit, New Hot Water Tanks, New Wiring in 2016 and Vinyl Siding. There is gas on the Property but not in use. Both Units will need some Cosmetics. Subject to Probate Court Approval.

5. 2022-10-03
   status Pending 343-char remark

   Show marketing remark (343 chars)

   Multi Family on the West Side of Bristol, 3 Bed Rooms and one Bath in each Unit. All the basics are here, New Roof with a Lifetime Warranty, New Boilers for each Unit, New Hot Water Tanks, New Wiring in 2016 and Vinyl Siding. There is gas on the Property but not in use. Both Units will need some Cosmetics. Subject to Probate Court Approval.

6. 2022-09-29
   listed $499,999 Active 343-char remark

   Show marketing remark (343 chars)

   Multi Family on the West Side of Bristol, 3 Bed Rooms and one Bath in each Unit. All the basics are here, New Roof with a Lifetime Warranty, New Boilers for each Unit, New Hot Water Tanks, New Wiring in 2016 and Vinyl Siding. There is gas on the Property but not in use. Both Units will need some Cosmetics. Subject to Probate Court Approval.

ⓘ 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: $5,361 · $447/mo
• Projected year-2 tax: $8,703 · $725/mo
• Expected delta: +$3,342/yr (+$279/mo · 62.3%)

ⓘ 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 ≥97°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,840
• − Mortgage interest: −$41,395
• − Property taxes: −$5,361
• − Insurance: −$3,695
• − Repairs & maintenance: −$6,547
• − Management: −$6,547
• − Depreciation: −$21,498
• Taxable loss: −$3,204
• Est. tax savings @ 24.0%: +$769
• After-tax cash flow: $9,862/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: Bristol Warren
• NCES district ID: 4400065
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $59,144
• Composite: 34.05/100
• National rank: #5306
• State rank: #18 of 39 in RI

Livability — Warwick

• Score: 78/100
• State rank: #6
• US rank: #2425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bristol County · 33,364 people
• City population: 108,434
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 22,220
• Household income: $97,764
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 649.0

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 49,175 people
• By 2030: 48,295 · -1.8%
• By 2040: 45,652 · -7.2%
• By 2050: 43,093 · -12.4%
• By 2075: 38,508 · -21.7%
• By 2100: 34,809 · -29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Asian 1% Black 1%
• Common ancestry: Russian 17% Lithuanian 6% Romanian 3%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Other Indo-European 9% Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Bristol

• 2024 margin: Strong D (+26.4) · D 62.1% · R 35.7% · Other 2.2%
• 2008→2024 swing: -0.4pp no change · 2008: 26.8pp · 2024: 26.4pp
• All cycles: 2024: D+26.4 2020: D+29.2 2016: D+22.8 2012: D+23.3 2008: D+26.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.42%
• Current HPI: 374.7149
• Rent YoY: ▲ 8.15%
• 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

+47.8% since first listed

6 events — show timeline

• 2026-05-05 Contingent — RIS
• 2026-04-21 Listed $739,000 RIS
• 2022-12-01 Sold (Public Records) $510,000 Public Records
• 2022-12-01 Sold (MLS) $510,000 RIS
• 2022-10-03 Pending — RIS
• 2022-09-29 Listed $499,999 RIS

Property tax history

+4.5%/yr

Latest (2024): $5,361 · +7.7% YoY. Source: county tax records.