32 Hopkins Ter · Valley Falls, RI 02864

$360,000

2 bd · 1.0 ba · 1,767 sqft · SingleFamily public records · 5 Days on market

Built 1935 4,792 sqft lot $204/sqft · 14% below area Est $454k · 21% under ↓ 4% since listing

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Schools +4.2/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

In over 40 years experience this is one of the most deceivingly charming homes I have seen. A wonderful not too open floor plan and closets and cubbies, nooks and crannies. The house just goes on and on. Four bedrooms, two and a half baths, sunroom, woodstove, dining room, eat in kitchen, semi finished basement w/ bulkhead, huge deck, two (yes 2) car garage. The quaint character of an older home updated for modern living. (Even has a brand new heating system (gas)). All of this overlooking the Blackstone River!! Definitely not a book to judge by it's cover.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1935

Property features AI

Exterior

• Parking: Detached garage; Two covered garage spaces (2-car garage); Total of 6 parking spaces
• Utilities: Sewer connected; Water connected; Electric with circuit breakers
• Home design: Two-story vinyl-sided home; Concrete perimeter foundation
• Construction: Vinyl siding; Concrete perimeter foundation
• Exterior features: Lot approximately 0.11 acres

Interior

• Kitchen: Gas water heater (appliance noted)
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Ceramic tile; Hardwood; Laminate; Vinyl
• Bathrooms: Two full bathrooms and one half bathroom
• Heating & cooling: Gas baseboard heating; Has heating
• Interior features: Partially finished full basement with interior and exterior entry
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-30 ($-366/yr) — negative.
• To cash-flow at today's rent, offer at most $355k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (18.2% below list).
• Recommended offer: $294k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Valley 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 75/100 on livability (#8 in RI, #4,293 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, amenities F, commute F.
• Cumberland (suburban): math 40% / reading 52% proficiency, ranked #9 of 39 in RI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.5%/yr); 141 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 30% of the median local income ($118k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $294,302 (18.2% below list)

Questions for the listing agent

1. 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?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 10.2

CMA / ARV

• ARV (median comp): $454,046
• List price: $360,000
• Delta: -20.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Hewes St	0.43mi	3/2.0 (+1)	1,744 (-1%)	3mo	$422,000	$242	66
4 Meadowcrest Dr	0.53mi	3/2.0 (+1)	1,650 (-7%)	1mo	$477,700	$290	54
6 Belmont Ter	0.43mi	2/2.0	1,716 (-3%)	21mo	$410,000	$239	54
20 Pleasant St	0.69mi	3/2.0 (+1)	1,756 (-1%)	11mo	$450,000	$256	49
20 E Barrows St	0.46mi	3/1.5 (+1)	2,026 (+15%)	1mo	$478,000	$236	46
18 Meadowcrest Dr	0.60mi	3/1.5 (+1)	1,615 (-9%)	6mo	$490,000	$303	46
464 High St	0.39mi	3/1.0 (+1)	1,525 (-14%)	18mo	$399,900	$262	38
45 E Earle St	0.55mi	3/2.5 (+1)	1,686 (-5%)	22mo	$589,000	$349	38
53 Minerva Ave	0.63mi	3/2.0 (+1)	1,930 (+9%)	12mo	$465,000	$241	36
127 Mcgirr St	0.54mi	3/1.0 (+1)	2,016 (+14%)	12mo	$415,000	$206	36
37 A Union St	0.66mi	3/2.5 (+1)	1,560 (-12%)	9mo	$547,000	$351	31
12 Redwood Dr	0.57mi	3/2.0 (+1)	2,029 (+15%)	22mo	$480,000	$237	22

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.32×
• Total profit: $-68,938
• Equity at exit: $53,677

10-year hold

• IRR: -21.0%
• Equity multiple: 0.05×
• Total profit: $-96,012
• Equity at exit: $31,126

Cash invested: $100,800 (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 02864

• Rents YoY: -1.5%
• Active inventory: 141
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,943 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$318 /mo · $3,811/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $-30

Break-even live

Break-even rent $2,982

Max offer price $354,616

Occupancy floor 96%

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Mendon Rd Unit 1 Attleboro, MA	3.0	2.5	1780	$3,979	$2.24	15d	1	0.92mi
515 Mendon Rd Unit 2 Attleboro, MA	3.0	2.5	1780	$3,950	$2.22	44d	1	0.92mi
417 Brown St #43 Attleboro, MA	2.0	1.5	2070	$2,600	$1.26	2d	1	0.94mi
14 Courtland St Unit 2 Central Falls, RI	3.0	1.0	1240	$1,850	$1.49	10d	1	1.07mi

Listing history 7 events

1. 2026-05-11
   status Pending 408-char remark
2. 2026-05-06
   listed $360,000 Active 408-char remark
3. 2022-12-16
   soldstatus $380,000 Closed 564-char remark

   Show marketing remark (564 chars)

   In over 40 years experience this is one of the most deceivingly charming homes I have seen. A wonderful not too open floor plan and closets and cubbies, nooks and crannies. The house just goes on and on. Four bedrooms, two and a half baths, sunroom, woodstove, dining room, eat in kitchen, semi finished basement w/ bulkhead, huge deck, two (yes 2) car garage. The quaint character of an older home updated for modern living. (Even has a brand new heating system (gas)). All of this overlooking the Blackstone River!! Definitely not a book to judge by it's cover.

4. 2022-12-16
   soldstatus $380,000

   Show marketing remark (564 chars)

   In over 40 years experience this is one of the most deceivingly charming homes I have seen. A wonderful not too open floor plan and closets and cubbies, nooks and crannies. The house just goes on and on. Four bedrooms, two and a half baths, sunroom, woodstove, dining room, eat in kitchen, semi finished basement w/ bulkhead, huge deck, two (yes 2) car garage. The quaint character of an older home updated for modern living. (Even has a brand new heating system (gas)). All of this overlooking the Blackstone River!! Definitely not a book to judge by it's cover.

5. 2022-11-30
   status Pending 564-char remark

   Show marketing remark (564 chars)

   In over 40 years experience this is one of the most deceivingly charming homes I have seen. A wonderful not too open floor plan and closets and cubbies, nooks and crannies. The house just goes on and on. Four bedrooms, two and a half baths, sunroom, woodstove, dining room, eat in kitchen, semi finished basement w/ bulkhead, huge deck, two (yes 2) car garage. The quaint character of an older home updated for modern living. (Even has a brand new heating system (gas)). All of this overlooking the Blackstone River!! Definitely not a book to judge by it's cover.

6. 2022-11-06
   historical Active Under Contract 564-char remark

   Show marketing remark (564 chars)

   In over 40 years experience this is one of the most deceivingly charming homes I have seen. A wonderful not too open floor plan and closets and cubbies, nooks and crannies. The house just goes on and on. Four bedrooms, two and a half baths, sunroom, woodstove, dining room, eat in kitchen, semi finished basement w/ bulkhead, huge deck, two (yes 2) car garage. The quaint character of an older home updated for modern living. (Even has a brand new heating system (gas)). All of this overlooking the Blackstone River!! Definitely not a book to judge by it's cover.

7. 2022-10-14
   listed $374,900 Active 564-char remark

   Show marketing remark (564 chars)

   In over 40 years experience this is one of the most deceivingly charming homes I have seen. A wonderful not too open floor plan and closets and cubbies, nooks and crannies. The house just goes on and on. Four bedrooms, two and a half baths, sunroom, woodstove, dining room, eat in kitchen, semi finished basement w/ bulkhead, huge deck, two (yes 2) car garage. The quaint character of an older home updated for modern living. (Even has a brand new heating system (gas)). All of this overlooking the Blackstone River!! Definitely not a book to judge by it's cover.

ⓘ 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: $3,811 · $318/mo
• Projected year-2 tax: $4,840 · $403/mo
• Expected delta: +$1,028/yr (+$86/mo · 27.0%)

ⓘ 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 69% 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: $35,316
• − Mortgage interest: −$20,166
• − Property taxes: −$3,811
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,825
• − Management: −$2,825
• − Depreciation: −$10,473
• Taxable loss: −$6,584
• Est. tax savings @ 24.0%: +$1,580
• After-tax cash flow: $1,214/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: Cumberland
• NCES district ID: 4400270
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $75,407
• Composite: 41.85/100
• National rank: #3382
• State rank: #9 of 39 in RI

Livability — Valley Falls

• Score: 75/100
• State rank: #8
• US rank: #4293

Category grades

Amenities F Commute F 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: Valley Falls, RI
• County: Providence County · 548,917 people
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 36,820
• Household income: $117,522
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 771.0

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 White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 5% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 11% Russian 10% Romanian 6%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 83% English-only · Other Indo-European 7% Spanish 4% 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: ▼ -461.15%
• Current HPI: 313.0341
• Rent YoY: ▼ -1.48%
• 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

-4.0% since first listed

7 events — show timeline

• 2026-05-11 Pending — RIS
• 2026-05-06 Listed $360,000 RIS
• 2022-12-16 Sold (Public Records) $380,000 Public Records
• 2022-12-16 Sold (MLS) $380,000 RIS
• 2022-11-30 Pending — RIS
• 2022-11-06 Contingent — RIS
• 2022-10-14 Listed $374,900 RIS

Property tax history

+2.0%/yr

Latest (2025): $3,811 · +2.7% YoY. Source: county tax records.