75 Prudence Ave · Providence, RI 02909

$659,900

6 bd · 3.0 ba · 2,172 sqft · MultiFamily public records · 14 Days on market

Built 1910 4,356 sqft lot $304/sqft · 51% above area Est $624k · 6% over

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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).

• Cash flow +20.4/30.0
• DSCR +6.5/10.0
• ARV discount +4.9/15.0
• 1% rule +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Nice 3 Family house located in silver Lake, providence, this property features 2 bedrooms and 1 full bathroom on each floor, updated kitchens and bathrooms, enough parking, good size backyard, if you are looking a move in ready opportunity this may be yours, schedule your showing today, more pictures coming soon. Seller reserves the right to accept an offer at any time.

Key facts

• 4,356 sq ft lot
• 5 parking spots
• Built 1910

Property features AI

Finance

• Financial info: Multifamily property with three rental units

Exterior

• Parking: No garage; Five off-street parking spaces (total)
• Utilities: Sewer connected (public sewer); Public water; Electric service: 100 amps
• Home design: Multifamily building with 3 units in one building; Above-grade finished area approximately 3,100
• Construction: Vinyl siding
• Exterior features: Public water and public sewer connection

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Three separate two-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Three full bathrooms (one full bath in each unit)
• Heating & cooling: Gas baseboard heating
• Interior features: Full, unfinished walk-out basement
• Laundry & utility: Basement provides utility/access space

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $660k.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive. Per door: $268/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $622k (5.8% below list).
• Recommended offer: $622k (5.8% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.2% in Providence — 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 84/100 on livability (#2 in RI, #794 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, schools F.
• Providence (urban): math 8% / reading 16% proficiency, ranked #34 of 39 in RI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $6,215/mo this rent would consume 115% of the median local household income ($65k/yr) (locally 2000% 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 $20k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 5y 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: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 71% 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 $621,500 (5.8% below list)

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. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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 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: 0.94% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.59%
• DSCR: 1.25
• GRM: 8.8

CMA / ARV

• ARV (median comp): $624,396
• List price: $659,900
• Delta: 5.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Wales St	0.60mi	6/2.0	2,288 (+5%)	14mo	$460,000	$201	47
190 Gladstone St	0.53mi	6/2.0	2,444 (+12%)	13mo	$615,000	$252	40

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-51,592
• Equity at exit: $98,393

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $38,117
• Equity at exit: $57,056

Cash invested: $184,772 (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 02909

• Home prices YoY: -13.3%
• Rents YoY: 3.7%
• Active inventory: 132
• Price-to-rent: 26.5×

Monthly cashflow live

• Estimated rent: $6,215 high
• Mortgage (P&I): −$3,461
• Tax from tax record: −$314 /mo · $3,770/yr
• Insurance: −$275
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,305
• Net cashflow: $805

Break-even live

Break-even rent $5,197

Max offer price $659,900

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,216
Total (3 units)			$6,215

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: $164,975
• Closing costs: $19,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Calef St Unit 16 Cranston, RI	5.0	3.0	3000	$3,500	$1.17	17d	1	0.95mi

Listing history 17 events

1. 2026-05-12
   status Pending 373-char remark
2. 2026-04-27
   listed $659,900 Active 373-char remark
3. 2026-01-09
   historical
4. 2025-12-22
   status Active
5. 2025-06-06
   status Pending
6. 2025-05-18
   listed $549,900 Active
7. 2024-12-13
   status Active
8. 2024-12-13
   historical
9. 2024-03-20
   historical Active Under Contract
10. 2024-03-13
    listed $530,000 Active
11. 2022-07-08
    soldstatus $530,000 Closed
12. 2022-07-08
    soldstatus $498,000
13. 2022-05-10
    status Pending
14. 2022-04-30
    listed $499,000 Active
15. 2021-07-20
    soldstatus $260,000 Closed
16. 2021-06-22
    status Pending
17. 2021-06-17
    listed $199,900 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: $3,770 · $314/mo
• Projected year-2 tax: $7,263 · $605/mo
• Expected delta: +$3,493/yr (+$291/mo · 92.7%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 16 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: $74,580
• − Mortgage interest: −$36,965
• − Property taxes: −$3,770
• − Insurance: −$3,966
• − Repairs & maintenance: −$5,966
• − Management: −$5,966
• − Depreciation: −$19,197
• Taxable loss: −$1,251
• Est. tax savings @ 24.0%: +$300
• After-tax cash flow: $9,955/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: Providence
• NCES district ID: 4400900
• Math proficiency: 8% ▼ -4.00%
• Reading proficiency: 16% ▼ -2.00%
• Median HH income: $38,197
• Composite: 10.12/100
• National rank: #9803
• State rank: #34 of 39 in RI

Livability — Providence

• Score: 84/100
• State rank: #2
• US rank: #794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Providence, RI
• County: Providence County · 548,917 people
• City population: 212,734
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 46,014
• Household income: $64,649
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 2000.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 23% White 22% Black 12% Asian 2% Native American 2%
• Hispanic origin (detail): Puerto Rican 12% Dominican 23%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica
• Languages at home: 43% English-only · Spanish 50% Other Indo-European 2% Other Asian/Pacific 1%

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: ▼ -72.78%
• Current HPI: 474.9956
• Rent YoY: ▲ 3.68%
• 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

+237.7% since first listed

18 events — show timeline

• 2026-06-06 Sold (MLS) $675,000 RIS
• 2026-05-12 Pending — RIS
• 2026-04-27 Listed $659,900 RIS
• 2026-01-09 Listing Removed — RIS
• 2025-12-22 Relisted — RIS
• 2025-06-06 Pending — RIS
• 2025-05-18 Listed $549,900 RIS
• 2024-12-13 Relisted — RIS
• 2024-12-13 Listing Removed — RIS
• 2024-03-20 Contingent — RIS
• 2024-03-13 Listed $530,000 RIS
• 2022-07-08 Sold (Public Records) $498,000 Public Records
• 2022-07-08 Sold (MLS) $530,000 RIS
• 2022-05-10 Pending — RIS
• 2022-04-30 Listed $499,000 RIS
• 2021-07-20 Sold (MLS) $260,000 RIS
• 2021-06-22 Pending — RIS
• 2021-06-17 Listed $199,900 RIS

Property tax history

-1.2%/yr

Latest (2025): $3,770 · -37.8% YoY. Source: county tax records.