110 Gallup St · Providence, RI 02905

$395,000

5 bd · 3.0 ba · 1,173 sqft · SingleFamily public records · 57 Days on market

Built 1945 5,227 sqft lot $337/sqft · 98% above area Est $468k · 16% under

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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).

• ARV discount +14.5/15.0
• Cash flow +10.9/30.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• DSCR +3.2/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own this spacious single-family home located in Providence. This property offers a functional and comfortable layout, ideal for large families or anyone looking for extra living space. Key Features: 5 bedrooms. Comfortable living room. Formal dining room. Spacious kitchen. Finished basement with additional living space. Modern Navien heating system (high efficiency). Relatively newer roof. Fully fenced yard, perfect for privacy, children, or pets. Hardwood floors, ceramic tile, and carpet throughout. Solar panels currently on a lease. This home offers great interior and exterior space and is conveniently located in Providence close to shopping, transportation, and other amenities.

Key facts

• Finished basement
• Solar panels
• Fully fenced yard

Tags

• FINISHED BASEMENT
• MODERN NAVIEN HEATING SYSTEM
• FULLY FENCED YARD
• SOLAR PANELS

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $395k.

Deal economics

• At list price, monthly cash flow is $-170 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $365k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (25.3% below list).
• Recommended offer: $295k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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 (+3.5%/yr); 75 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $2,950/mo this rent would consume 56% of the median local household income ($63k/yr) (locally 1220% 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 $3k of loan paydown is wiped out by about $12k 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

• It's been on market 57 days — a 3% lower offer ($383k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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 $172k; list at $395k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% 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 $294,950 (25.3% 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. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.75% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• GRM: 11.2

CMA / ARV

• ARV (median comp): $467,924
• List price: $395,000
• Delta: -15.58%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.33×
• Total profit: $-73,620
• Equity at exit: $58,896

10-year hold

• IRR: -10.7%
• Equity multiple: 0.34×
• Total profit: $-72,925
• Equity at exit: $34,152

Cash invested: $110,600 (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 02905

• Rents YoY: 3.5%
• Active inventory: 75
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,950 medium
• Mortgage (P&I): −$2,071
• Tax from tax record: −$265 /mo · $3,175/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $-170

Break-even live

Break-even rent $3,165

Max offer price $364,883

Occupancy floor —

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-08
   status Pending 710-char remark

   Show marketing remark (710 chars)

   Great opportunity to own this spacious single-family home located in Providence. This property offers a functional and comfortable layout, ideal for large families or anyone looking for extra living space. Key Features: 5 bedrooms. Comfortable living room. Formal dining room. Spacious kitchen. Finished basement with additional living space. Modern Navien heating system (high efficiency). Relatively newer roof. Fully fenced yard, perfect for privacy, children, or pets. Hardwood floors, ceramic tile, and carpet throughout. Solar panels currently on a lease. This home offers great interior and exterior space and is conveniently located in Providence close to shopping, transportation, and other amenities.

2. 2026-03-12
   listed $395,000 Active 710-char remark

   Show marketing remark (710 chars)

   Great opportunity to own this spacious single-family home located in Providence. This property offers a functional and comfortable layout, ideal for large families or anyone looking for extra living space. Key Features: 5 bedrooms. Comfortable living room. Formal dining room. Spacious kitchen. Finished basement with additional living space. Modern Navien heating system (high efficiency). Relatively newer roof. Fully fenced yard, perfect for privacy, children, or pets. Hardwood floors, ceramic tile, and carpet throughout. Solar panels currently on a lease. This home offers great interior and exterior space and is conveniently located in Providence close to shopping, transportation, and other amenities.

3. 2023-11-26
   historical
4. 2023-09-11
   listed $340,000 Active
5. 2016-06-27
   soldstatus $171,500 Sold
6. 2016-06-24
   soldstatus $171,500
7. 2016-03-28
   status Pending
8. 2016-03-24
   status Active - Back on Market
9. 2016-02-26
   status Pending
10. 2016-02-25
    historical Active - Under Contract
11. 2016-02-01
    price $169,900
12. 2016-02-01
    price $174,900
13. 2016-02-01
    price $159,900
14. 2016-01-17
    listed $164,900 Active - New
15. 2015-08-25
    soldstatus $40,000 Sold
16. 2015-05-24
    status Pending
17. 2015-03-23
    historical Contingent - Pending Short Sale Approval
18. 2015-02-26
    status Active - Extended
19. 2015-01-30
    historical Contingent - Pending Fully Executed P&S
20. 2015-01-19
    status Active - Back on Market
21. 2014-12-03
    historical Contingent - Pending Short Sale Approval
22. 2014-11-04
    price $59,000
23. 2014-09-24
    price $69,000
24. 2014-09-03
    status Active - Back on Market
25. 2014-03-21
    historical Contingent - Pending Fully Executed P&S
26. 2014-03-05
    listed $79,900 Active - New

ⓘ 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: $3,175 · $265/mo
• Projected year-2 tax: $4,807 · $401/mo
• Expected delta: +$1,632/yr (+$136/mo · 51.4%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $35,394
• − Mortgage interest: −$22,126
• − Property taxes: −$3,175
• − Insurance: −$1,975
• − Repairs & maintenance: −$2,832
• − Management: −$2,832
• − Depreciation: −$11,491
• Taxable loss: −$9,036
• Est. tax savings @ 24.0%: +$2,169
• After-tax cash flow: $123/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): 25,012
• Household income: $62,908
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 1220.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 41% White 38% Black 15% Two or more races 15% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 30%
• Common ancestry: Russian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 30% · Canada, China
• Languages at home: 57% English-only · Spanish 34% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -396.84%
• Current HPI: 387.2525
• Rent YoY: ▲ 3.45%
• 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

+394.4% since first listed

26 events — show timeline

• 2026-05-08 Pending — RIS
• 2026-03-12 Listed $395,000 RIS
• 2023-11-26 Listing Removed — RIS
• 2023-09-11 Listed $340,000 RIS
• 2016-06-27 Sold (MLS) $171,500 RIS
• 2016-06-24 Sold (Public Records) $171,500 Public Records
• 2016-03-28 Pending — RIS
• 2016-03-24 Relisted — RIS
• 2016-02-26 Pending — RIS
• 2016-02-25 Contingent — RIS
• 2016-02-01 Price Changed $159,900 RIS
• 2016-02-01 Price Changed $174,900 RIS
• 2016-02-01 Price Changed $169,900 RIS
• 2016-01-17 Listed $164,900 RIS
• 2015-08-25 Sold (MLS) $40,000 RIS
• 2015-05-24 Pending — RIS
• 2015-03-23 Contingent — RIS
• 2015-02-26 Relisted — RIS
• 2015-01-30 Contingent — RIS
• 2015-01-19 Relisted — RIS
• 2014-12-03 Contingent — RIS
• 2014-11-04 Price Changed $59,000 RIS
• 2014-09-24 Price Changed $69,000 RIS
• 2014-09-03 Relisted — RIS
• 2014-03-21 Contingent — RIS
• 2014-03-05 Listed $79,900 RIS

Property tax history

+0.3%/yr

Latest (2025): $3,175 · -41.8% YoY. Source: county tax records.