6 Acre Ave

Barrington, RI 02806

$599,000F

3 bd · 1.5 ba · 1,100 sqft · Built 1972 · SingleFamily · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,400/mo
• Mortgage (P&I): −$3,141
• Tax + insurance: −$841
• HOA: −$0
• Vac / Maint / Mgmt: −$714
• Net cashflow: $-1,297/mo
• Annual: $-15,560/yr
• Cap rate: 3.70%
• Cash-on-cash: -9.28%
• DSCR: 0.59
• 1% rule: 0.57%
• Cash to close: $167,720

Investor read

• This is a 3-bed/1.5-bath single-family listed at $599k.
• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $370k (38.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (43.2% below list).
• It's been on market 44 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $340k (43.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Barrington (suburban): math 55% / reading 70% proficiency, ranked #1 of 39 in RI (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 29 units permitted in Bristol County in 2024 (0 in 5+ unit buildings).
• Bristol County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 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.
• Current owner paid $266k; list at $599k implies a 125% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 80% 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.

Questions for listing agent

• 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?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.