108 East St · Woonsocket, RI 02895

$499,900

9 bd · 3.0 ba · 3,360 sqft · MultiFamily public records · 2 Days on market

Built 1900 6,970 sqft lot Est $622k · 20% under

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Why this score? — see what drove the C+ 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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.9/10.0
• Rent growth +4.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• 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 MLS

CORPORATE OWNED 3 FAMILY HOME, 3 BEDROOMS EACH FLOOR. PROPERTY NEEDS TOTAL REHAB. SOLD IN CURRENT CONDITIONS, PRE-APPROVAL LETTER MUST ACOMPANY ALL OFFERS.

Key facts

• Individual utilities
• Vinyl-sided exterior
• Off-street parking

Tags

• OFF-STREET PARKING
• INDIVIDUAL UTILITIES
• VINYL-SIDED EXTERIOR
• FULLY FIRE-CODED BUILDING
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: No garage; Space for 6 vehicles (total parking)
• Utilities: Sewer connected; Water connected; Electric service with 100 amps and separate meters
• Home design: One building containing three units; Above-grade finished area approximately 3,360
• Construction: Vinyl siding construction
• Exterior features: Sewer connected; Water connected

Interior

• Kitchen: Gas water heater (appliance present)
• Bedrooms: Total of 14 rooms (bedroom count not specified)
• Flooring: Ceramic tile; Hardwood; Laminate
• Bathrooms: Three full bathrooms
• Heating & cooling: Heating present; Baseboard heating; Forced air; Geothermal; Hot water heating
• Interior features: Full unfinished basement with both interior and exterior entry
• Laundry & utility: Separate electric meters; 100 amp electric service

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive. Per door: $325/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• Cap rate 8.6% vs local median 3.3% in Woonsocket — 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 65/100 on livability (#24 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, schools D-, amenities F.
• Woonsocket (suburban): math 5% / reading 14% proficiency, ranked #37 of 39 in RI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 163 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $5,455/mo this rent would consume 107% of the median local household income ($61k/yr) (locally 2658% 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 $15k 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 + 8.0% rent growth), your $140k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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 $32k; list at $500k implies a 1483% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $499,900

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 1900 — 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 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?
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 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: 1.09% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $621,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 East St	0.02mi	9/3.0	2,930 (-13%)	6mo	$630,000	$215	73
289 Mowry St	0.73mi	9/3.0	3,360 (0%)	8mo	$620,000	$185	59
810 Front St	0.10mi	8/3.0 (-1)	3,050 (-9%)	20mo	$485,000	$159	59
635 Park Ave	0.42mi	8/4.0 (-1)	3,114 (-7%)	1mo	$570,465	$183	58
172 Park Ave	0.53mi	8/3.0 (-1)	3,252 (-3%)	11mo	$635,000	$195	55
27 First Ave	0.33mi	9/3.0	3,597 (+7%)	23mo	$575,000	$160	54
113 Transit St	0.35mi	8/4.0 (-1)	3,221 (-4%)	19mo	$562,000	$174	52
58 Oakley Rd	0.56mi	10/5.0 (+1)	3,177 (-5%)	3mo	$600,000	$189	49
207 Highland St	0.68mi	10/2.0 (+1)	3,346 (-0%)	19mo	$507,500	$152	43
75 W Park Pl	0.69mi	8/4.0 (-1)	3,383 (+1%)	20mo	$530,000	$157	41
715-717 Park Ave	0.46mi	9/4.0	2,960 (-12%)	22mo	$581,000	$196	36
126 Earle St	0.70mi	8/5.0 (-1)	3,092 (-8%)	22mo	$610,000	$197	23

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $9,901
• Equity at exit: $74,537

10-year hold

• IRR: 15.7%
• Equity multiple: 2.57×
• Total profit: $219,791
• Equity at exit: $43,222

Cash invested: $139,972 (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 02895

• Rents YoY: 9.2%
• Active inventory: 163
• Price-to-rent: 22.9×

Monthly cashflow live

• Estimated rent: $5,455 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$505 /mo · $6,061/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,146
• Net cashflow: $975

Break-even live

Break-even rent $4,221

Max offer price $499,900

Occupancy floor 77%

Sensitivity live

Price	-10% $1,258	-5% $1,116	+0% $975	+5% $833	+10% $692
Rent	-10% $544	-5% $759	+0% $975	+5% $1,190	+10% $1,405
Rate	-1.0pp $1,226	-0.5pp $1,102	base $975	+0.5pp $845	+1.0pp $713

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,454
Total (3 units)			$5,455

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $499,900 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $499,900 Active 1 DOM

ⓘ 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: $6,061 · $505/mo
• Projected year-2 tax: $7,105 · $592/mo
• Expected delta: +$1,044/yr (+$87/mo · 17.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $65,460
• − Mortgage interest: −$28,002
• − Property taxes: −$6,061
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,237
• − Management: −$5,237
• − Depreciation: −$14,543
• Taxable income: $3,881
• Est. tax owed @ 24.0%: −$931
• After-tax cash flow: $10,763/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: Woonsocket
• NCES district ID: 4401200
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $37,757
• Composite: 8.01/100
• National rank: #9923
• State rank: #37 of 39 in RI

Livability — Woonsocket

• Score: 65/100
• State rank: #24
• US rank: #12968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, RI
• County: Providence County · 548,917 people
• City population: 43,521
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 43,521
• Household income: $61,059
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2658.0

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 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 13% Romanian 3% Russian 3%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 17% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -431.80%
• Current HPI: 357.8858
• Rent YoY: ▲ 9.15%
• 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

+1487.0% since first listed

4 events — show timeline

• 2026-06-16 Listed $499,900 RIS
• 2009-07-21 Sold (MLS) $31,588 RIS
• 2009-04-10 Listing Removed — RIS
• 2009-04-02 Listed $31,500 RIS

Property tax history

+2.6%/yr

Latest (2025): $6,061 · +32.7% YoY. Source: county tax records.