159 Iroquois Rd · Valley Falls, RI 02864

$289,900

2 bd · 1.0 ba · 1,354 sqft · SingleFamily public records · 15 Days on market

Built 1920 4,792 sqft lot Est $475k · 39% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.3/30.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 3 bed 1.5 bath diamond in the rough. This home needs very little to make it perfect. Located in desirable Monastery Heights situated on a nice flat lot on a quiet street. Tons of potential, close to all amenities and highways. Great opportunity at an affordable price.

Key facts

• 4,792 sq ft lot
• 2 parking spots
• Built 1920

Property features AI

Finance

• HOA & community: Community amenities nearby include golf, highway access, hospital, schools, public transportation, restaurants, shopping, and tennis courts

Exterior

• Parking: No garage; Space for 2 vehicles
• Utilities: 100 amp electric service; Connected water; Cesspool sewer
• Home design: 2-story home; Vinyl siding
• Construction: Built on concrete perimeter foundation
• Exterior features: Lot approximately 0.11 acres

Interior

• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water baseboard heating (gas)
• Interior features: Crawl space basement; Carpet and laminate flooring
• Laundry & utility: Electric water heater; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-213 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $252k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (26.7% below list).
• Recommended offer: $212k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.3% in Valley Falls — 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 75/100 on livability (#8 in RI, #4,293 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Cumberland (suburban): math 40% / reading 52% proficiency, ranked #9 of 39 in RI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Garvin Memorial (math 32% / reading 47%, grade F, #46 of 167 statewide, top 30%, 410 students, 20% FRL); Joseph L. Mccourt Ms (math 25% / reading 30%, grade F, #25 of 57 statewide, top 43%, 436 students, 37% FRL); Cumberland High School (math 35% / reading 58%, grade D-, #15 of 58 statewide, top 26%, 1,446 students, 17% FRL).
• Market conditions: Rents soft (-1.5%/yr); 148 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 15 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 31y 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 $70k; list at $290k implies a 314% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% 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 $212,352 (26.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.73% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.16%
• DSCR: 0.86
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $475,254
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
66 Pequot Ave	0.15mi	2/1.0	1,288 (-5%)	6mo	$420,000	$326	80
7 Seneca St	0.32mi	3/1.0 (+1)	1,376 (+2%)	16mo	$425,000	$309	64
144 Hines Rd	0.41mi	3/1.5 (+1)	1,467 (+8%)	9mo	$487,500	$332	53
10 Delaware Ave	0.45mi	3/1.0 (+1)	1,490 (+10%)	15mo	$465,900	$313	45
77 Melrose St	0.38mi	3/1.5 (+1)	1,196 (-12%)	14mo	$425,000	$355	44
31 Chestnut St	0.60mi	2/1.0	1,218 (-10%)	13mo	$445,000	$365	44
66 Rabbitt Hill Rd	0.71mi	3/1.5 (+1)	1,340 (-1%)	17mo	$470,000	$351	44
87 Hilltop Rd	0.73mi	3/1.0 (+1)	1,260 (-7%)	20mo	$560,000	$444	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.8%
• Equity multiple: 0.18×
• Total profit: $-66,833
• Equity at exit: $43,225

10-year hold

• IRR: -31.9%
• Equity multiple: -0.23×
• Total profit: $-99,905
• Equity at exit: $25,065

Cash invested: $81,172 (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 02864

• Rents YoY: -1.5%
• Active inventory: 148
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,124 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$250 /mo · $3,000/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $-213

Break-even live

Break-even rent $2,394

Max offer price $252,188

Occupancy floor —

Sensitivity live

Price	-10% $-49	-5% $-131	+0% $-213	+5% $-296	+10% $-378
Rent	-10% $-381	-5% $-297	+0% $-213	+5% $-130	+10% $-46
Rate	-1.0pp $-67	-0.5pp $-140	base $-213	+0.5pp $-289	+1.0pp $-365

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Abbott Run Valley Rd #1604 Cumberland, RI	2.0	1.5	1785	$2,800	$1.57	17d	1	1.31mi
40 E Barrows St Unit 3 Cumberland, RI	2.0	1.0	1150	$1,750	$1.52	13d	1	1.40mi
40 E Barrows St Unit 2 Cumberland, RI	2.0	1.0	1150	$1,950	$1.70	16d	1	1.40mi
495 Broad St Unit 2 Cumberland, RI	3.0	1.0	1000	$1,850	$1.85	45d	1	1.43mi

Listing history 17 events

1. 2026-06-02
   statusdays on market $289,900 Pending 15 DOM
2. 2026-06-01
   days on market $289,900 Active 14 DOM
3. 2026-05-31
   days on market $289,900 Active 13 DOM
4. 2026-04-29
   listed $289,900 Active
5. 2026-04-29
   historical
6. 2026-04-01
   listed $289,900
7. 2017-07-21
   status Pending
8. 2017-07-20
   historical
9. 2017-07-12
   price $149,000
10. 2017-07-12
    status Active
11. 2017-06-05
    status Pending
12. 2017-05-19
    listed $159,000 Active
13. 2016-11-08
    price $239,000
14. 2006-12-30
    historical
15. 2006-06-05
    listed $249,000
16. 1995-12-15
    soldstatus $70,000
17. 1995-08-07
    listed $78,900

ⓘ 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: $3,000 · $250/mo
• Projected year-2 tax: $3,863 · $322/mo
• Expected delta: +$863/yr (+$72/mo · 28.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% 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: $25,482
• − Mortgage interest: −$16,239
• − Property taxes: −$3,000
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$8,433
• Taxable loss: −$7,717
• Est. tax savings @ 24.0%: +$1,852
• After-tax cash flow: $-710/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: Cumberland
• NCES district ID: 4400270
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $75,407
• Composite: 41.85/100
• National rank: #3382
• State rank: #9 of 39 in RI

Livability — Valley Falls

• Score: 75/100
• State rank: #8
• US rank: #4293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valley Falls, RI
• County: Providence County · 548,917 people
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 36,820
• Household income: $117,522
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 771.0

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: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 5% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 11% Russian 10% Romanian 6%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 83% English-only · Other Indo-European 7% Spanish 4% French/Haitian/Cajun 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: ▼ -461.15%
• Current HPI: 313.0341
• Rent YoY: ▼ -1.48%
• 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

+267.4% since first listed

14 events — show timeline

• 2026-04-29 Listing Removed — RIS
• 2026-04-29 Listed $289,900 RIS
• 2026-04-01 Listed $289,900 RIS
• 2017-07-21 Pending — RIS
• 2017-07-20 Listing Removed — RIS
• 2017-07-12 Price Changed $149,000 RIS
• 2017-07-12 Relisted — RIS
• 2017-06-05 Pending — RIS
• 2017-05-19 Listed $159,000 RIS
• 2016-11-08 Price Changed $239,000 RIS
• 2006-12-30 Listing Removed — RIS
• 2006-06-05 Listed $249,000 RIS
• 1995-12-15 Sold (MLS) $70,000 RIS
• 1995-08-07 Listed $78,900 RIS

Property tax history

+1.5%/yr

Latest (2025): $3,000 · +2.7% YoY. Source: county tax records.