5 Washington Ave · Cranston, RI 02920

$275,000

2 bd · 3.0 ba · 1,024 sqft · MultiFamily public records · 5 Days on market

Built 1986 5,000 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Side-by-side duplex in Cranston offered as a cash-only sale. Property needs work but presents strong potential for investment income. Each unit benefits from a large, fenced-in backyard, ideal for children, pets, and added privacy. Great opportunity for contractors, investors, or anyone looking to add value and build equity. Please submit all offers by Sunday 5PM 4/12/26

Key facts

• Side-by-side duplex
• 5,000 sq ft lot
• 4 parking spots

Tags

• SIDE-BY-SIDE DUPLEX
• LARGE FENCED-IN BACKYARD

Property features AI

Finance

• Financial info: Operating expenses reported at $4,500; One-bedroom unit currently rented for $900 (actual rent)
• HOA & community: Close to highway access, public transportation, schools, shopping and restaurants

Exterior

• Parking: No garage; Space for 4 vehicles (total)
• Utilities: Public water connected; Public sewer connected; 100 amp electric service; Tenant pays hot water
• Home design: Single-story building; Concrete perimeter foundation
• Construction: Clapboard exterior with drywall interior
• Exterior features: Fenced yard; Above-ground pool

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: One-bedroom unit (1 bedroom); Three-bedroom unit (3 bedrooms)
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: Three full bathrooms total across units; One full bathroom in the one-bedroom unit; Two full bathrooms in the three-bedroom unit
• Heating & cooling: Gas heating with baseboard and forced air
• Interior features: Tub/shower; Partially finished basement with interior and exterior entry
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $565/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Cap rate 11.2% vs local median 3.3% in Cranston — 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 87/100 on livability (#1 in RI, #323 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Cranston (suburban): math 16% / reading 35% proficiency, ranked #23 of 39 in RI (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.4%/yr); 124 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,876/mo this rent would consume 58% of the median local household income ($81k/yr) (locally 985% 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 $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $77k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 30y 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 $160k; list at $275k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $275,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.41% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.61%
• DSCR: 1.78
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.42% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $25,221
• Equity at exit: $41,003

10-year hold

• IRR: 17.1%
• Equity multiple: 2.37×
• Total profit: $105,810
• Equity at exit: $23,777

Cash invested: $77,000 (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 02920

• Rents YoY: 2.4%
• Active inventory: 124
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $3,876 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$376 /mo · $4,507/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $1,130

Break-even live

Break-even rent $2,446

Max offer price $275,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,876
Total (2 units)			$3,876

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Anthony Ave Unit 1 Providence, RI	3.0	2.0	1400	$2,800	$2.00	14d	1	0.28mi
304 Webster Ave Cranston, RI	2.0	1.0	1144	$1,850	$1.62	10d	1	0.38mi
37 Sumner Ave Unit 2 Cranston, RI	2.0	1.0	800	$1,600	$2.00	16d	1	0.44mi
348 Union Ave Unit 1 Providence, RI	2.0	1.0	900	$1,900	$2.11	14d	1	0.47mi
56 Greenwich St Unit 1 Providence, RI	3.0	2.0	1400	$2,800	$2.00	23d	1	0.66mi
29 Dunford St Unit 2 Providence, RI	3.0	2.0	1116	$2,400	$2.15	23d	1	0.82mi
20 Pavilion Ct Unit 22 Cranston, RI	2.0	1.5	1400	$2,500	$1.79	43d	1	0.85mi
78 Old Oak Ave Unit 2 Cranston, RI	2.0	1.0	880	$1,700	$1.93	43d	1	0.87mi
151 Chestnut Hill Ave Cranston, RI	2.0	1.0	1114	$2,795	$2.51	44d	1	0.93mi
50 Murray St Unit 9 Providence, RI	2.0	1.5	886	$2,500	$2.82	1d	1	1.06mi
50 Murray St Unit 19 Providence, RI	2.0	1.5	1130	$2,750	$2.43	15d	1	1.06mi
50 Murray St Unit 20 Providence, RI	2.0	1.5	1130	$2,750	$2.43	11d	1	1.06mi
50 Murray St Unit 19 Providence, RI	2.0	1.5	1130	$2,750	$2.43	1d	1	1.06mi
1303 Cranston St Unit 1 Cranston, RI	3.0	1.0	1356	$2,750	$2.03	43d	1	1.07mi
50 Murray St Unit 2 Providence, RI	2.0	1.5	860	$2,500	$2.91	43d	1	1.09mi
50 Murray St Unit 10 Providence, RI	2.0	1.5	860	$2,500	$2.91	19d	1	1.09mi
50 Murray St Unit 21 Providence, RI	2.0	1.5	1130	$2,750	$2.43	20d	1	1.09mi
50 Murray St Unit 2 Providence, RI	2.0	1.5	840	$2,350	$2.80	1d	1	1.09mi
28 Cleveland Ave Unit 3 Cranston, RI	2.0	1.0	1000	$1,695	$1.70	23d	1	1.10mi
718 Dyer Ave Cranston, RI	3.0	1.5	1250	$1,900	$1.52	16d	1	1.11mi
718 Dyer Ave Cranston, RI	3.0	1.5	1233	$1,900	$1.54	23d	1	1.11mi
1336 Cranston St Fl Rear Cranston, RI	2.0	2.0	1000	$2,095	$2.10	10d	1	1.15mi
166 Valley St Providence, RI	2.0	1.0–2.0	733	$2,670	$3.64	2d	7	1.22mi
9 Sprague Ave #3 Cranston, RI	2.0	1.0	998	$1,700	$1.70	43d	1	1.24mi
120 Pontiac Ave Unit 1 Cranston, RI	3.0	1.0	1320	$2,500	$1.89	43d	1	1.35mi

Listing history 8 events

1. 2026-04-14
   status Pending
2. 2026-04-09
   listed $275,000 Active
3. 2016-11-08
   price $79,900
4. 2004-08-10
   soldstatus $160,000
5. 1997-09-28
   historical
6. 1997-04-07
   listed $75,432
7. 1996-12-31
   historical
8. 1996-06-10
   listed $84,900

ⓘ 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: $4,507 · $376/mo
• Projected year-2 tax: $4,507 · $376/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $46,512
• − Mortgage interest: −$15,404
• − Property taxes: −$4,507
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,721
• − Management: −$3,721
• − Depreciation: −$8,000
• Taxable income: $9,784
• Est. tax owed @ 24.0%: −$2,348
• After-tax cash flow: $11,209/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: Cranston
• NCES district ID: 4400240
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $60,070
• Composite: 23.36/100
• National rank: #7910
• State rank: #23 of 39 in RI

Livability — Cranston

• Score: 87/100
• State rank: #1
• US rank: #323

Category grades

Amenities B+ Commute A 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: Cranston, RI
• County: Providence County · 548,917 people
• City population: 72,803
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 37,155
• Household income: $80,717
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 985.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Two or more races 8% Asian 7% Black 7%
• Hispanic origin (detail): Puerto Rican 4% Dominican 6%
• Common ancestry: Lithuanian 6% Russian 5% Slovak 2%
• Foreign-born: 16% · Canada, China
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 5% 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: ▼ -449.22%
• Current HPI: 334.2336
• Rent YoY: ▲ 2.42%
• 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

+223.9% since first listed

8 events — show timeline

• 2026-04-14 Pending — RIS
• 2026-04-09 Listed $275,000 RIS
• 2016-11-08 Price Changed $79,900 RIS
• 2004-08-10 Sold (Public Records) $160,000 Public Records
• 1997-09-28 Listing Removed — RIS
• 1997-04-07 Listed $75,432 RIS
• 1996-12-31 Listing Removed — RIS
• 1996-06-10 Listed $84,900 RIS

Property tax history

+4.0%/yr

Latest (2025): $4,507 · +2.0% YoY. Source: county tax records.