213 Hallville Rd · Exeter, RI 02822

$185,000

3 bd · 1.0 ba · 1,504 sqft · SingleFamily public records · 65 Days on market

Built 1950 1.17 ac lot ↓ 8% since listing

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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
• Appreciation +6.4/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

Key facts

• Private well
• Driveway easement
• 1.17-acre lot

Tags

• 1.17-ACRE LOT
• PRIVATE WELL
• 3-BEDROOM SEPTIC
• SERENE BACKDROP OF DAWLEY POND
• DRIVEWAY EASEMENT

Property features AI

Finance

• HOA & community: Community amenities nearby: golf, highway access, shopping

Exterior

• Parking: Attached 2-car garage; 10 total parking spaces; 2 covered spaces
• Utilities: Well water; Septic tank; 100 amp electric
• Home design: Single-story property; Fixer condition
• Construction: Shingle and wood siding with drywall and plaster interior; Concrete perimeter foundation; Built with traditional construction materials
• Exterior features: Wooded lot; Walk-to-water access; Has view

Interior

• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; Steam heating; 100 amp electric service
• Interior features: Masonry fireplace (2 total); Full, unfinished walk-out basement; Storage room; Utility room; Carpet flooring; Oil water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Exeter-West Greenwich (rural): math 39% / reading 48% proficiency, ranked #11 of 39 in RI (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 21 active listings in the ZIP; 311 units permitted in Washington County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.8% local appreciation)).
• Washington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 10 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $173,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.69% ✓
• Cap rate: 13.05%
• Cash-on-cash: 24.15%
• DSCR: 2.07
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $532,416
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Sodom Trl	0.17mi	3/2.0	1,543 (+3%)	7mo	$545,920	$354	78

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 2.68×
• Total profit: $86,895
• Equity at exit: $81,142

10-year hold

• IRR: 30.6%
• Equity multiple: 5.23×
• Total profit: $218,908
• Equity at exit: $123,484

Cash invested: $51,800 (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 02822

• Home prices YoY: 0.8%
• Active inventory: 21
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,118 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$374 /mo · $4,484/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $1,042

Break-even live

Break-even rent $1,799

Max offer price $185,000

Occupancy floor 62%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $185,000 Active 65 DOM
2. 2026-06-17
   days on market $185,000 Active 64 DOM
3. 2026-06-16
   days on market $185,000 Active 63 DOM
4. 2026-06-15
   days on market $185,000 Active 62 DOM
5. 2026-06-13
   days on market $185,000 Active 60 DOM
6. 2026-06-09
   days on market $185,000 Active 56 DOM
7. 2026-06-08
   days on market $185,000 Active 55 DOM
8. 2026-06-07
   days on market $185,000 Active 54 DOM
9. 2026-06-05
   days on market $185,000 Active 51 DOM
10. 2026-06-03
    days on market $185,000 Active 50 DOM
11. 2026-06-02
    days on market $185,000 Active 49 DOM
12. 2026-06-01
    days on market $185,000 Active 48 DOM
13. 2026-05-31
    days on market $185,000 Active 47 DOM
14. 2026-05-01
    status Active 899-char remark

    Show marketing remark (899 chars)

    A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

15. 2026-05-01
    status Active

    Show marketing remark (899 chars)

    A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

16. 2026-04-24
    status Pending 899-char remark

    Show marketing remark (899 chars)

    A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

17. 2026-04-24
    status Pending

    Show marketing remark (899 chars)

    A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

18. 2026-04-07
    listed $185,000 Active 899-char remark

    Show marketing remark (899 chars)

    A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

19. 2026-04-07
    listed $185,000 Active

    Show marketing remark (899 chars)

    A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

20. 2026-04-07
    historical

    Show marketing remark (899 chars)

    A unique 1.17-acre lot awaits in a prime Eastern Exeter location. This property includes total teardown, offering a serene backdrop of Dawley Pond for a speculative build or custom home. Benefit from a massive head start with a private well and 3-bedroom septic already on-site. Note: As the home has been gutted with no active utilities for several years, the well and septic have not been tested; however, the Seller secured approvals in November 2025 to replace the existing OWTS if needed. Located in a peaceful, private setting just minutes from Exeter Country Club, local favorite Back40, and all the top-rated shopping, dining, and recreation that nearby North Kingstown has to offer. Access is provided via a driveway easement through 211 and 215 Hallville Road. The value is entirely in the land, the views, and the infrastructure. Sold AS-IS bring your demolition crew and your blueprints!

21. 2025-09-19
    status Active
22. 2025-09-09
    historical Active Under Contract
23. 2025-05-16
    price $237,500
24. 2025-04-09
    listed $296,000 Active
25. 2023-01-17
    soldstatus $169,000 Closed
26. 2023-01-17
    soldstatus $169,000
27. 2023-01-04
    historical
28. 2022-12-22
    historical
29. 2022-11-23
    status Active
30. 2022-11-18
    status Pending
31. 2022-11-05
    price $159,000
32. 2022-10-28
    listed $159,000
33. 2022-10-28
    listed $179,000 Active
34. 2022-04-07
    soldstatus $175,000 Closed
35. 2022-03-02
    status Pending
36. 2022-02-28
    listed $200,000 Active

ⓘ 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: $4,484 · $374/mo
• Projected year-2 tax: $4,484 · $374/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $37,418
• − Mortgage interest: −$10,363
• − Property taxes: −$4,484
• − Insurance: −$925
• − Repairs & maintenance: −$2,993
• − Management: −$2,993
• − Depreciation: −$5,382
• Taxable income: $10,278
• Est. tax owed @ 24.0%: −$2,467
• After-tax cash flow: $10,043/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: Exeter-West Greenwich
• NCES district ID: 4400360
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 48% ▼ -8.00%
• Median HH income: $84,349
• Composite: 40.65/100
• National rank: #3679
• State rank: #11 of 39 in RI

Livability — Exeter

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 6,139

Population outlook (Washington County) Hauer SSP2

• Today (2025): 123,856 people
• By 2030: 121,962 · -1.5%
• By 2040: 115,902 · -6.4%
• By 2050: 107,078 · -13.5%
• By 2075: 92,575 · -25.3%
• By 2100: 77,407 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Lithuanian 7% Romanian 3% Russian 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: D (+15.0) · D 56.4% · R 41.4% · Other 2.3%
• 2008→2024 swing: -24.3pp toward R · 2008: 39.3pp · 2024: 15.0pp
• All cycles: 2024: D+15.0 2020: D+19.4 2016: D+10.0 2012: D+16.8 2008: D+39.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.80%
• Current HPI: 351.6284
• Rent YoY: —
• Metro: —
• 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

-7.5% since first listed

23 events — show timeline

• 2026-05-01 Relisted — RIS
• 2026-05-01 Relisted — RIS
• 2026-04-24 Pending — RIS
• 2026-04-24 Pending — RIS
• 2026-04-07 Listing Removed — RIS
• 2026-04-07 Listed $185,000 RIS
• 2026-04-07 Listed $185,000 RIS
• 2025-09-19 Relisted — RIS
• 2025-09-09 Contingent — RIS
• 2025-05-16 Price Changed $237,500 RIS
• 2025-04-09 Listed $296,000 RIS
• 2023-01-17 Sold (Public Records) $169,000 Public Records
• 2023-01-17 Sold (MLS) $169,000 RIS
• 2023-01-04 Listing Removed — RIS
• 2022-12-22 Listing Removed — RIS
• 2022-11-23 Relisted — RIS
• 2022-11-18 Pending — RIS
• 2022-11-05 Price Changed $159,000 RIS
• 2022-10-28 Listed $179,000 RIS
• 2022-10-28 Listed $159,000 RIS
• 2022-04-07 Sold (MLS) $175,000 RIS
• 2022-03-02 Pending — RIS
• 2022-02-28 Listed $200,000 RIS

Property tax history

+3.9%/yr

Latest (2025): $4,484 · +28.4% YoY. Source: county tax records.