30 Pekin St · Providence, RI 02908

$599,900

6 bd · 2.0 ba · 2,573 sqft · MultiFamily public records · 30 Days on market

Built 1900 3,920 sqft lot

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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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Very large two family home locate at Smith Hill Neighborhood, Town House Style Two Bed Rooms on First Floor and 5 Bed Rooms on Second Floor with two full bath rooms, big basement with walk out, fenced yard with parking for 9 cars full paved. Convenient located at 3 minutes from Dawn Town Providence, walk distance to Providence College, easy access to I-95, Rt. 10, Rt. 146, Restaurants, Schools and more. Please call for more information.

Key facts

• Paved yard
• Vinyl siding
• Quick access to i-95

Tags

• ZERO-MAINTENANCE EXTERIOR
• VINYL SIDING
• PAVED YARD
• PARKING FOR UP TO 9 VEHICLES
• QUICK ACCESS TO I-95
• QUICK ACCESS TO I-146

Property features AI

Exterior

• Parking: No garage; 9 total parking spaces
• Utilities: Sewer connected; Water connected; Electric service ~100 amps
• Home design: Multifamily property with 2 units in 1 building; Above-grade finished area approximately 4,132
• Construction: Vinyl siding
• Exterior features: Sewer connected; Water connected

Interior

• Kitchen: Gas water heater (equipment noted)
• Bedrooms: Two units: one with 5 bedrooms, one with 2 bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: 3 full bathrooms total (unit breakdown: 2 full baths in the larger unit, 1 full bath in the smaller unit)
• Heating & cooling: Forced air heating (gas)
• Interior features: Full unfinished basement; Ceramic tile and laminate flooring; 11 total rooms
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.5-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $979 ($12k/yr) — positive. Per door: $490/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 $591k (1.5% below list).
• Recommended offer: $591k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.0% 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-.
• 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.
• Zoned schools: George J. West El. School (math 7% / reading 13%, grade F, #148 of 167 statewide, top 90%, 601 students, 84% FRL); Nathanael Greene Middle (math 10% / reading 23%, grade F, #37 of 57 statewide, top 64%, 808 students, 85% FRL); Central High School (math 2% / reading 12%, grade F, #53 of 58 statewide, top 96%, 1,302 students, 87% FRL).
• Market conditions: Rents rising fast (+5.5%/yr); 163 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k 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 + 5.5% rent growth), your $168k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($591k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 28y 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 $315k; list at $600k implies a 90% 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, 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 $590,901 (1.5% 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 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 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. 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: 0.99% ✗
• Cap rate: 8.25%
• Cash-on-cash: 7.00%
• DSCR: 1.31
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-20,028
• Equity at exit: $89,447

10-year hold

• IRR: 8.9%
• Equity multiple: 1.75×
• Total profit: $126,813
• Equity at exit: $51,868

Cash invested: $167,972 (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 02908

• Home prices YoY: -27.1%
• Rents YoY: 5.5%
• Active inventory: 163
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $5,912 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$295 /mo · $3,542/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,242
• Net cashflow: $979

Break-even live

Break-even rent $4,672

Max offer price $599,900

Occupancy floor 78%

Sensitivity live

Price	-10% $1,319	-5% $1,149	+0% $979	+5% $810	+10% $640
Rent	-10% $512	-5% $746	+0% $979	+5% $1,213	+10% $1,446
Rate	-1.0pp $1,282	-0.5pp $1,132	base $979	+0.5pp $824	+1.0pp $666

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.5	$5,912
Total (2 units)			$5,912

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-05-08
   status Pending
2. 2026-04-22
   historical Active Under Contract
3. 2026-04-08
   listed $599,900 Active
4. 2021-03-24
   soldstatus $315,000 Closed 440-char remark

   Show marketing remark (440 chars)

   Very large two family home locate at Smith Hill Neighborhood, Town House Style Two Bed Rooms on First Floor and 5 Bed Rooms on Second Floor with two full bath rooms, big basement with walk out, fenced yard with parking for 9 cars full paved. Convenient located at 3 minutes from Dawn Town Providence, walk distance to Providence College, easy access to I-95, Rt. 10, Rt. 146, Restaurants, Schools and more. Please call for more information.

5. 2021-03-24
   soldstatus $315,000

   Show marketing remark (440 chars)

   Very large two family home locate at Smith Hill Neighborhood, Town House Style Two Bed Rooms on First Floor and 5 Bed Rooms on Second Floor with two full bath rooms, big basement with walk out, fenced yard with parking for 9 cars full paved. Convenient located at 3 minutes from Dawn Town Providence, walk distance to Providence College, easy access to I-95, Rt. 10, Rt. 146, Restaurants, Schools and more. Please call for more information.

6. 2020-12-03
   status Pending 440-char remark

   Show marketing remark (440 chars)

   Very large two family home locate at Smith Hill Neighborhood, Town House Style Two Bed Rooms on First Floor and 5 Bed Rooms on Second Floor with two full bath rooms, big basement with walk out, fenced yard with parking for 9 cars full paved. Convenient located at 3 minutes from Dawn Town Providence, walk distance to Providence College, easy access to I-95, Rt. 10, Rt. 146, Restaurants, Schools and more. Please call for more information.

7. 2020-09-17
   listed $310,000 Active 440-char remark

   Show marketing remark (440 chars)

   Very large two family home locate at Smith Hill Neighborhood, Town House Style Two Bed Rooms on First Floor and 5 Bed Rooms on Second Floor with two full bath rooms, big basement with walk out, fenced yard with parking for 9 cars full paved. Convenient located at 3 minutes from Dawn Town Providence, walk distance to Providence College, easy access to I-95, Rt. 10, Rt. 146, Restaurants, Schools and more. Please call for more information.

8. 2010-02-25
   soldstatus $165,000
9. 2008-09-27
   historical
10. 2008-05-27
    listed $219,900
11. 2007-01-16
    soldstatus $130,000
12. 2007-01-02
    historical
13. 2006-12-11
    listed $139,000
14. 2005-11-21
    soldstatus $325,000
15. 2005-11-17
    soldstatus $330,000
16. 2005-10-27
    listed $330,000
17. 2005-10-27
    historical
18. 2005-06-28
    soldstatus $290,500
19. 2004-11-01
    historical
20. 2004-06-08
    listed $249,900
21. 1998-08-24
    soldstatus $62,500
22. 1998-04-24
    soldstatus $35,000
23. 1998-04-16
    listed $49,500
24. 1998-04-15
    soldstatus $35,000

ⓘ 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: $3,542 · $295/mo
• Projected year-2 tax: $6,660 · $555/mo
• Expected delta: +$3,118/yr (+$260/mo · 88.0%)

ⓘ 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 ≥97°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: $70,944
• − Mortgage interest: −$33,604
• − Property taxes: −$3,542
• − Insurance: −$3,000
• − Repairs & maintenance: −$5,676
• − Management: −$5,676
• − Depreciation: −$17,452
• Taxable income: $1,996
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $11,274/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): 39,500
• Household income: $73,081
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1561.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 33% Two or more races 22% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 16%
• Common ancestry: Swiss 4% Hispanic 3% Russian 3%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 53% English-only · Spanish 36% French/Haitian/Cajun 4% Other Indo-European 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: ▼ -151.12%
• Current HPI: 407.0502
• Rent YoY: ▲ 5.46%
• 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

+1614.0% since first listed

24 events — show timeline

• 2026-05-08 Pending — RIS
• 2026-04-22 Contingent — RIS
• 2026-04-08 Listed $599,900 RIS
• 2021-03-24 Sold (Public Records) $315,000 Public Records
• 2021-03-24 Sold (MLS) $315,000 RIS
• 2020-12-03 Pending — RIS
• 2020-09-17 Listed $310,000 RIS
• 2010-02-25 Sold (Public Records) $165,000 Public Records
• 2008-09-27 Listing Removed — RIS
• 2008-05-27 Listed $219,900 RIS
• 2007-01-16 Sold (MLS) $130,000 RIS
• 2007-01-02 Listing Removed — RIS
• 2006-12-11 Listed $139,000 RIS
• 2005-11-21 Sold (Public Records) $325,000 Public Records
• 2005-11-17 Sold (MLS) $330,000 RIS
• 2005-10-27 Listing Removed — RIS
• 2005-10-27 Listed $330,000 RIS
• 2005-06-28 Sold (Public Records) $290,500 Public Records
• 2004-11-01 Listing Removed — RIS
• 2004-06-08 Listed $249,900 RIS
• 1998-08-24 Sold (Public Records) $62,500 Public Records
• 1998-04-24 Sold (Public Records) $35,000 Public Records
• 1998-04-16 Listed $49,500 RIS
• 1998-04-15 Sold (MLS) $35,000 RIS

Property tax history

-0.5%/yr

Latest (2025): $3,542 · -33.9% YoY. Source: county tax records.