30 Foundry St #5 · Central Falls, RI 02863

$289,000

2 bd · 2.5 ba · 1,776 sqft · Condo public records · 75 Days on market

Built 2004 $163/sqft · 11% below area Est $332k · 13% under $230/mo HOA · 10% of rent

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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 +13.4/15.0
• Cash flow +7.4/30.0
• Appreciation +7.3/10.0
• Livability +3.3/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Schools +0.4/10.0

Listing remarks MLS

Welcome to Unit 5 at 30 Foundry St, a stunning and spacious multi-level condo that perfectly blends modern convenience with effortless style. This two-bedroom, 2.5-bathroom residence is completely move-in ready, offering a seamless transition for those looking to settle into the heart of Central Falls. The open-concept main floor is designed for both relaxation and entertaining, featuring a bright living area that flows naturally into a well-appointed kitchen. With a convenient half-bath on the main level, the home is as functional as it is inviting. Upstairs, you'll find two generously sized bedrooms that serve as peaceful retreats, including a primary suite. Each room boasts ample closet space and large windows that fill the interior with natural light. Situated in a prime location with easy access to local amenities and major highways, this condo offers a low-maintenance lifestyle without sacrificing space or comfort. Whether you are a first-time buyer or looking to upgrade your living situation, Unit 5 is a rare find that is ready for you to call home.

Key facts

• $230 HOA
• 2 parking spots
• Built 2004

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $-368 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (23.4% below list).
• Recommended offer: $221k (23.4% below list) — sets the bar for 1% rule.

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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $2,214/mo this rent would consume 54% of the median local household income ($49k/yr) (locally 1380% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($2k loan paydown + $13k appreciation (4.6% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $209k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $221,366 (23.4% 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 75 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 4.77%
• Cash-on-cash: -5.45%
• DSCR: 0.76
• GRM: 10.9

CMA / ARV

• ARV (median comp): $332,240
• List price: $289,000
• Delta: -13.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 7.1%
• Equity multiple: 1.45×
• Total profit: $36,337
• Equity at exit: $156,359

10-year hold

• IRR: 9.3%
• Equity multiple: 2.65×
• Total profit: $133,806
• Equity at exit: $263,916

Cash invested: $80,920 (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: 10.9×

Monthly cashflow live

• Estimated rent: $2,214 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$250 /mo · $3,005/yr
• Insurance: −$120
• HOA: −$230
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-368

Break-even live

Break-even rent $2,679

Max offer price $224,064

Occupancy floor —

Sensitivity live

Price	-10% $-204	-5% $-286	+0% $-368	+5% $-449	+10% $-531
Rent	-10% $-542	-5% $-455	+0% $-368	+5% $-280	+10% $-193
Rate	-1.0pp $-222	-0.5pp $-294	base $-368	+0.5pp $-442	+1.0pp $-519

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Courtland St Unit 2 Central Falls, RI	3.0	1.0	1240	$1,850	$1.49	12d	1	0.57mi
28 Bayley St Unit 1107 Pawtucket, RI	1.0	1.5	1270	$2,400	$1.89	3d	1	0.79mi
173 Weeden St Unit 1103 Pawtucket, RI	1.0	1.0	1800	$1,650	$0.92	45d	1	0.84mi
173 Weeden St Unit 324 Pawtucket, RI	1.0	1.0	1500	$1,650	$1.10	25d	1	0.84mi
173 Weeden St Unit 429 Pawtucket, RI	1.0	2.0	2000	$1,900	$0.95	45d	1	0.84mi
173 Weeden St Unit 424 Pawtucket, RI	1.0	1.0	1500	$1,700	$1.13	25d	1	0.84mi
173 Weeden St Unit 3002 Town House Pawtucket, RI	2.0	2.0	1600	$1,900	$1.19	45d	1	0.85mi
173 Weeden St Unit 1104 Pawtucket, RI	1.0	1.0	1472	$1,600	$1.09	45d	1	0.85mi
171 N Bend St Unit 1 Pawtucket, RI	3.0	2.0	1352	$2,450	$1.81	3d	1	0.86mi
75 S Union St Pawtucket, RI	1.0–2.0	1.0–2.0	1053	$2,795	$2.65	3d	8	0.95mi
413 Central Ave Pawtucket, RI	1.0–3.0	1.0–2.0	1285	$2,428	$1.89	3d	9	1.10mi
417 Brown St #43 Attleboro, MA	2.0	1.5	2070	$2,600	$1.26	3d	1	1.16mi
171 Mendon Rd Attleboro, MA	3.0	1.5	1585	$3,500	$2.21	16d	1	1.24mi
171 Mendon Rd Attleboro, MA	3.0	1.5	1585	$3,500	$2.21	4d	1	1.24mi
513 Mendon Rd Unit 1 Attleboro, MA	3.0	2.5	1780	$3,979	$2.24	16d	1	1.31mi
515 Mendon Rd Unit 2 Attleboro, MA	3.0	2.5	1780	$3,950	$2.22	45d	1	1.31mi
46 Mary St Pawtucket, RI	3.0	2.0	1600	$2,250	$1.41	45d	1	1.45mi

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $289,000 Active 75 DOM
2. 2026-06-18
   days on market $289,000 Active 72 DOM
3. 2026-06-17
   days on market $289,000 Active 71 DOM
4. 2026-06-16
   days on market $289,000 Active 70 DOM
5. 2026-06-15
   days on market $289,000 Active 69 DOM
6. 2026-06-13
   days on market $289,000 Active 67 DOM
7. 2026-06-13
   pricedays on market $289,000 Active 66 DOM
8. 2026-06-09
   days on market $305,000 Active 63 DOM
9. 2026-06-08
   days on market $305,000 Active 62 DOM
10. 2026-06-07
    days on market $305,000 Active 61 DOM
11. 2026-06-05
    days on market $305,000 Active 58 DOM
12. 2026-06-03
    days on market $305,000 Active 57 DOM
13. 2026-06-02
    days on market $305,000 Active 56 DOM
14. 2026-06-01
    pricedays on market $305,000 Active 55 DOM
15. 2026-05-31
    days on market $309,000 Active 54 DOM
16. 2026-05-18
    price $309,000 1072-char remark

    Show marketing remark (1072 chars)

    Welcome to Unit 5 at 30 Foundry St, a stunning and spacious multi-level condo that perfectly blends modern convenience with effortless style. This two-bedroom, 2.5-bathroom residence is completely move-in ready, offering a seamless transition for those looking to settle into the heart of Central Falls. The open-concept main floor is designed for both relaxation and entertaining, featuring a bright living area that flows naturally into a well-appointed kitchen. With a convenient half-bath on the main level, the home is as functional as it is inviting. Upstairs, you'll find two generously sized bedrooms that serve as peaceful retreats, including a primary suite. Each room boasts ample closet space and large windows that fill the interior with natural light. Situated in a prime location with easy access to local amenities and major highways, this condo offers a low-maintenance lifestyle without sacrificing space or comfort. Whether you are a first-time buyer or looking to upgrade your living situation, Unit 5 is a rare find that is ready for you to call home.

17. 2026-04-27
    price $315,000 1072-char remark

    Show marketing remark (1072 chars)

    Welcome to Unit 5 at 30 Foundry St, a stunning and spacious multi-level condo that perfectly blends modern convenience with effortless style. This two-bedroom, 2.5-bathroom residence is completely move-in ready, offering a seamless transition for those looking to settle into the heart of Central Falls. The open-concept main floor is designed for both relaxation and entertaining, featuring a bright living area that flows naturally into a well-appointed kitchen. With a convenient half-bath on the main level, the home is as functional as it is inviting. Upstairs, you'll find two generously sized bedrooms that serve as peaceful retreats, including a primary suite. Each room boasts ample closet space and large windows that fill the interior with natural light. Situated in a prime location with easy access to local amenities and major highways, this condo offers a low-maintenance lifestyle without sacrificing space or comfort. Whether you are a first-time buyer or looking to upgrade your living situation, Unit 5 is a rare find that is ready for you to call home.

18. 2026-04-07
    listed $319,000 Active 1072-char remark

    Show marketing remark (1072 chars)

    Welcome to Unit 5 at 30 Foundry St, a stunning and spacious multi-level condo that perfectly blends modern convenience with effortless style. This two-bedroom, 2.5-bathroom residence is completely move-in ready, offering a seamless transition for those looking to settle into the heart of Central Falls. The open-concept main floor is designed for both relaxation and entertaining, featuring a bright living area that flows naturally into a well-appointed kitchen. With a convenient half-bath on the main level, the home is as functional as it is inviting. Upstairs, you'll find two generously sized bedrooms that serve as peaceful retreats, including a primary suite. Each room boasts ample closet space and large windows that fill the interior with natural light. Situated in a prime location with easy access to local amenities and major highways, this condo offers a low-maintenance lifestyle without sacrificing space or comfort. Whether you are a first-time buyer or looking to upgrade your living situation, Unit 5 is a rare find that is ready for you to call home.

19. 2023-04-05
    status Pending
20. 2023-04-05
    historical
21. 2023-03-15
    listed $239,000 Active
22. 2013-01-22
    historical
23. 2012-11-16
    listed $105,900
24. 2007-06-27
    soldstatus $209,000
25. 2005-08-12
    soldstatus $181,000
26. 2005-05-19
    historical
27. 2005-02-02
    listed $199,900

ⓘ 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: $3,005 · $250/mo
• Projected year-2 tax: $3,858 · $321/mo
• Expected delta: +$853/yr (+$71/mo · 28.4%)

ⓘ 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 ≥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: $26,564
• − Mortgage interest: −$16,188
• − Property taxes: −$3,005
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,125
• − Management: −$2,125
• − HOA: −$2,760
• − Depreciation: −$8,407
• Taxable loss: −$9,492
• Est. tax savings @ 24.0%: +$2,278
• After-tax cash flow: $-2,133/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: 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

+54.6% since first listed

12 events — show timeline

• 2026-05-18 Price Changed $309,000 RIS
• 2026-04-27 Price Changed $315,000 RIS
• 2026-04-07 Listed $319,000 RIS
• 2023-04-05 Pending — RIS
• 2023-04-05 Listing Removed — RIS
• 2023-03-15 Listed $239,000 RIS
• 2013-01-22 Listing Removed — RIS
• 2012-11-16 Listed $105,900 RIS
• 2007-06-27 Sold (Public Records) $209,000 Public Records
• 2005-08-12 Sold (Public Records) $181,000 Public Records
• 2005-05-19 Listing Removed — RIS
• 2005-02-02 Listed $199,900 RIS

Property tax history

-0.1%/yr

Latest (2025): $3,005 · -21.5% YoY. Source: county tax records.