1270 1272 Broad St · Central Falls, RI 02863

$789,000

6 bd · 4.0 ba · 4,350 sqft · MultiFamily · 66 Days on market

Built 1881 Good condition 4,356 sqft lot $181/sqft · 12% above area Est $705k · 12% 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 +17.5/30.0
• Appreciation +7.3/10.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• ARV discount +2.1/15.0
• Schools +0.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Well -maintained property -4 residential apartments 2 apartments 2 bedrooms each and 2 /1 bedroom each and first- floor comercial at the moment is rented to bar/restaurant Monthly $2000.00/. This turnkey investment offers strong potential with both residential and commercial. High visibility location with steady foot traffic. Perfect for investors seeking a stable income-producing asset or owner-operators looking to run business while move in one of the residential aprtment. Call for more information!!

Key facts

• Steady foot traffic
• Turnkey investment
• 4,356 sq ft lot

Tags

• TURNKEY INVESTMENT
• HIGH VISIBILITY LOCATION
• STEADY FOOT TRAFFIC
• STABLE INCOME PRODUCING ASSET

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $789k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $767k (2.8% below list).
• Recommended offer: $742k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 5.1% in Central 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 66/100 on livability (#21 in RI) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing B; Watch: amenities F, commute F, employment F.
• Central Falls (suburban): math 2% / reading 8% proficiency, ranked #38 of 39 in RI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ella Risk School (math 2% / reading 12%, grade F, #158 of 167 statewide, top 97%, 430 students, 94% FRL); Calcutt Middle School (math 0% / reading 6%, grade F, #56 of 57 statewide, top 98%, 511 students, 97% FRL); Central Falls Sr High (math 2% / reading 12%, grade F, #53 of 58 statewide, top 96%, 811 students, 97% FRL) — zoned schools average 96% FRL vs 78% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 32 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• In year one you build about $42k of equity ($5k loan paydown + $36k appreciation (4.6% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $221k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($742k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 1881 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% 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 $741,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1881 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (median comp): $704,538
• List price: $789,000
• Delta: 11.99%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 Washington St	0.41mi	6/3.0	4,435 (+2%)	16mo	$540,000	$122	60
16 Fales St	0.60mi	7/3.0 (+1)	4,286 (-2%)	12mo	$650,000	$152	51
32-34 Lawn St	0.51mi	6/3.0	4,904 (+13%)	10mo	$630,000	$128	42
40 Lawn St	0.54mi	7/5.5 (+1)	3,882 (-11%)	16mo	$860,000	$222	33
103 Valley St	0.65mi	5/3.0 (-1)	4,819 (+11%)	12mo	$565,000	$117	33

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

Projected returns pro-forma

4.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.91×
• Total profit: $201,636
• Equity at exit: $426,877

10-year hold

• IRR: 15.5%
• Equity multiple: 3.65×
• Total profit: $585,914
• Equity at exit: $720,518

Cash invested: $220,920 (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 02863

• Home prices YoY: 1.2%
• Active inventory: 32
• Price-to-rent: 34.3×

Monthly cashflow live

• Estimated rent: $7,671 high
• Mortgage (P&I): −$4,138
• Tax est. 1.5%: −$986 /mo · $11,835/yr
• Insurance: −$329
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,611
• Net cashflow: $607

Break-even live

Break-even rent $6,902

Max offer price $789,000

Occupancy floor 87%

Sensitivity live

Price	-10% $1,153	-5% $880	+0% $607	+5% $335	+10% $62
Rent	-10% $1	-5% $304	+0% $607	+5% $910	+10% $1,213
Rate	-1.0pp $1,005	-0.5pp $808	base $607	+0.5pp $403	+1.0pp $195

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,672
Total (4 units)			$7,671

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: $197,250
• Closing costs: $23,670
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-24
   listed $789,000 Active 512-char remark

   Show marketing remark (512 chars)

   Well -maintained property -4 residential apartments 2 apartments 2 bedrooms each and 2 /1 bedroom each and first- floor comercial at the moment is rented to bar/restaurant Monthly $2000.00/. This turnkey investment offers strong potential with both residential and commercial. High visibility location with steady foot traffic. Perfect for investors seeking a stable income-producing asset or owner-operators looking to run business while move in one of the residential aprtment. Call for more information!!

2. 2026-03-24
   historical

   Show marketing remark (512 chars)

   Well -maintained property -4 residential apartments 2 apartments 2 bedrooms each and 2 /1 bedroom each and first- floor comercial at the moment is rented to bar/restaurant Monthly $2000.00/. This turnkey investment offers strong potential with both residential and commercial. High visibility location with steady foot traffic. Perfect for investors seeking a stable income-producing asset or owner-operators looking to run business while move in one of the residential aprtment. Call for more information!!

3. 2025-09-23
   listed $789,000 Active
4. 2013-12-19
   price $449,900
5. 2013-04-06
   historical
6. 2012-04-06
   listed $499,900
7. 2008-11-30
   historical
8. 2008-05-11
   listed $495,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $92,052
• − Mortgage interest: −$44,196
• − Property taxes: −$11,835
• − Insurance: −$3,945
• − Repairs & maintenance: −$7,364
• − Management: −$7,364
• − Depreciation: −$22,953
• Taxable loss: −$5,605
• Est. tax savings @ 24.0%: +$1,345
• After-tax cash flow: $8,635/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This property is in good condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics. It offers a stable income-producing asset with strong potential for both residential and commercial use.

Repairs flagged

• Minor Kitchen cabinets — Slight wear and tear visible.
• Minor Bathroom fixtures — Some clutter and signs of wear.
• Minor Exterior paint — Some discoloration and wear visible on exterior siding.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Replace worn-out kitchen cabinets — New cabinets can improve functionality and aesthetics in the kitchen.
• Both Upgrade bathroom fixtures — Modern fixtures can improve functionality and aesthetics in the bathrooms.
• Both Landscaping and curb appeal improvements — Aesthetic improvements can enhance the property's curb appeal and attract more tenants or buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight wear and tear visible.	Minor	$500–3,000
Bathroom fixtures · Some clutter and signs of wear.	Minor	$500–3,000
Exterior paint · Some discoloration and wear visible on exterior siding.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Replace worn-out kitchen cabinets — New cabinets can improve functionality and aesthetics in the kitchen. ↑
• Both Upgrade bathroom fixtures — Modern fixtures can improve functionality and aesthetics in the bathrooms. ↑
• Both Landscaping and curb appeal improvements — Aesthetic improvements can enhance the property's curb appeal and attract more tenants or buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Central Falls
• NCES district ID: 4400120
• Math proficiency: 2% ▼ -6.00%
• Reading proficiency: 8% ▼ -5.00%
• Median HH income: $30,478
• Composite: 3.59/100
• National rank: #10071
• State rank: #38 of 39 in RI

Livability — Central Falls

• Score: 66/100
• State rank: #21
• US rank: #11321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central Falls, RI
• County: Providence County · 548,917 people
• City population: 22,701
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 22,701
• Household income: $49,285
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 1380.0

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 Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 29% White 16% Black 8%
• Hispanic origin (detail): Mexican 6% Puerto Rican 15% Dominican 7%
• Common ancestry: Lithuanian 4% Russian 4% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 29% English-only · Spanish 62% Other Indo-European 5% French/Haitian/Cajun 3%

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: ▲ 4.58%
• Current HPI: 373.2598
• Rent YoY: —
• 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

+59.4% since first listed

8 events — show timeline

• 2026-03-24 Listing Removed — RIS
• 2026-03-24 Listed $789,000 RIS
• 2025-09-23 Listed $789,000 RIS
• 2013-12-19 Price Changed $449,900 RIS
• 2013-04-06 Listing Removed — RIS
• 2012-04-06 Listed $499,900 RIS
• 2008-11-30 Listing Removed — RIS
• 2008-05-11 Listed $495,000 RIS