16 Rufus St · Pawtucket, RI 02860

$399,900

3 bd · 2.0 ba · 1,242 sqft · MultiFamily public records · 27 Days on market

Built 1920 3,920 sqft lot Est $460k · 13% 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 +21.8/30.0
• ARV discount +13.3/15.0
• DSCR +7.0/10.0
• 1% rule +5.2/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• 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

Investors take notice! This great little 2-family in Pawtucket is now available! First floor is a one bedroom, one bathroom currently being used as a two bedroom. Upstairs is a one/two bed one bathroom unit. Separate entrances for both units with fire escape for second floor. Great location close to 146 and 95, bus routes, schools, etc. First floor is currently occupied with a solid tenant that wishes to stay. This home WILL NOT LAST! Book your tour TODAY!

Key facts

• 3,920 sq ft lot
• Built 1920
• Listed 27 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive. Per door: $312/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $394k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.8% in Pawtucket — 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 71/100 on livability (#16 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, schools D, amenities F.
• Pawtucket (suburban): math 7% / reading 19% proficiency, ranked #33 of 39 in RI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 123 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,089/mo this rent would consume 80% of the median local household income ($62k/yr) (locally 2528% 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 27 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $300k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $393,901 (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 1920 — 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: 1.02% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.69%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $459,540
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
199 Morris Ave	0.19mi	3/2.0	1,303 (+5%)	6mo	$440,000	$338	78
67 Ash St	0.20mi	3/2.0	1,350 (+9%)	1mo	$500,000	$370	76

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 · 3.47% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-23,120
• Equity at exit: $59,626

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $38,987
• Equity at exit: $34,576

Cash invested: $111,972 (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 02860

• Rents YoY: 3.5%
• Active inventory: 123
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $4,089 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$342 /mo · $4,105/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$859
• Net cashflow: $624

Break-even live

Break-even rent $3,299

Max offer price $399,900

Occupancy floor 80%

Sensitivity live

Price	-10% $851	-5% $738	+0% $624	+5% $511	+10% $398
Rent	-10% $301	-5% $463	+0% $624	+5% $786	+10% $948
Rate	-1.0pp $826	-0.5pp $726	base $624	+0.5pp $521	+1.0pp $415

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,090
Total (2 units)			$4,089

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
866 Weeden St Pawtucket, RI	2.0	1.0	725	$1,800	$2.48	44d	1	0.23mi
73 Fairview Ave Unit 2 Pawtucket, RI	3.0	1.0	1100	$1,900	$1.73	17d	1	0.46mi
40 Fairview Ave Pawtucket, RI	2.0	1.0	920	$1,790	$1.95	2d	1	0.48mi
396 Weeden St Pawtucket, RI	1.0–2.0	1.0	700	$2,195	$3.14	4d	4	0.66mi
34 Hancock St Unit 1 Pawtucket, RI	3.0	1.0	1192	$1,700	$1.43	17d	1	0.70mi
106 Carpenter St Unit 2 Pawtucket, RI	2.0	1.0	975	$1,600	$1.64	44d	1	0.76mi
106 Carpenter St Unit 3 Pawtucket, RI	2.0	1.0	950	$1,400	$1.47	44d	1	0.76mi
70 Watson St Apt 1 Central Falls, RI	2.0	1.0	800	$1,350	$1.69	44d	1	0.81mi
6 Bloomingdale Ave Unit 1 Pawtucket, RI	2.0	1.0	1200	$2,000	$1.67	24d	1	0.87mi
1 Santini St Unit J North Providence, RI	2.0	1.5	1242	$3,000	$2.42	2d	1	0.93mi
162 Urban Ave #3 North Providence, RI	3.0	1.0	900	$1,850	$2.06	44d	1	0.97mi
94 Lonsdale Ave Unit 2 Pawtucket, RI	3.0	1.0	1180	$1,425	$1.21	15d	1	0.98mi
183 Harrison St #1 Pawtucket, RI	2.0	1.0	1080	$1,375	$1.27	44d	1	0.99mi
0 Lonsdale Ave Pawtucket, RI	4.0	2.5	1079	$2,000	$1.85	17d	1	1.00mi
664 Dexter St Unit 8 Central Falls, RI	2.0	1.0	900	$1,500	$1.67	2d	1	1.02mi
8 Bagley St Unit 2 Pawtucket, RI	3.0	1.0	1173	$1,975	$1.68	24d	1	1.05mi
850 Main St #2 Pawtucket, RI	2.0	1.0	1000	$1,495	$1.50	24d	1	1.08mi
61 Utton Ave Unit 2 Pawtucket, RI	3.0	1.0	1105	$2,400	$2.17	2d	1	1.09mi
16 Binford St Unit 1 Central Falls, RI	3.0	1.0	1134	$2,200	$1.94	4d	1	1.09mi
327 Pine St Unit 3002 Pawtucket, RI	2.0	2.0	1100	$2,400	$2.18	2d	1	1.11mi
327 Pine St Pawtucket, RI	1.0–2.0	1.0–2.0	940	$2,400	$2.55	2d	2	1.14mi
1 Talbot St Apt 10 North Providence, RI	2.0	1.0	855	$1,850	$2.16	44d	1	1.15mi
19 Barney Ave Unit 1 Pawtucket, RI	3.0	1.0	1000	$1,950	$1.95	44d	1	1.16mi
124 Jane St Unit B North Providence, RI	2.0	1.0	900	$1,750	$1.94	4d	1	1.16mi
145 Randall St Pawtucket, RI	1.0–2.0	1.0	955	$2,150	$2.25	5d	5	1.23mi
75 S Union St Pawtucket, RI	1.0–2.0	1.0–2.0	1053	$2,795	$2.65	2d	8	1.33mi
74 Hawes St Unit 2 Central Falls, RI	2.0	1.0	775	$1,700	$2.19	2d	1	1.33mi
13 Magill St Unit 2 Pawtucket, RI	2.0	1.0	1100	$1,850	$1.68	44d	1	1.34mi
10 Josephine St North Providence, RI	2.0	1.0	712	$1,900	$2.67	44d	2	1.35mi
10 Josephine St North Providence, RI	2.0	1.0	712	$1,975	$2.77	4d	2	1.35mi
10 Josephine St #310 North Providence, RI	2.0	1.0	712	$2,000	$2.81	3d	1	1.35mi
160 Garden St Pawtucket, RI	2.0	1.0	1200	$2,300	$1.92	2d	1	1.37mi
421 West Ave Unit 1 Pawtucket, RI	3.0	1.0	1498	$2,300	$1.54	2d	1	1.37mi
44 Pine St Unit 2 Pawtucket, RI	2.0	1.0	980	$1,800	$1.84	24d	1	1.40mi
96 Shawmut Ave Unit 98 Central Falls, RI	4.0	1.5	1398	$2,700	$1.93	19d	1	1.42mi
22 Heaton St Unit 3 Pawtucket, RI	3.0	1.0	1117	$2,300	$2.06	44d	1	1.43mi
29 Pine St Unit 2 Pawtucket, RI	3.0	1.0	1100	$1,900	$1.73	16d	1	1.44mi
397 Pawtucket Ave Unit 2 Pawtucket, RI	3.0	1.0	1434	$2,200	$1.53	24d	1	1.46mi
270 Langdon St Unit 1 Providence, RI	3.0	1.0	1189	$2,300	$1.93	12d	1	1.47mi
136 George St Unit 8 Pawtucket, RI	2.0	1.0	800	$1,650	$2.06	44d	1	1.47mi

Listing history 14 events

1. 2025-05-20
   status Pending
2. 2025-04-23
   listed $399,900 Active
3. 2022-11-10
   soldstatus $300,000 Closed 460-char remark

   Show marketing remark (460 chars)

   Investors take notice! This great little 2-family in Pawtucket is now available! First floor is a one bedroom, one bathroom currently being used as a two bedroom. Upstairs is a one/two bed one bathroom unit. Separate entrances for both units with fire escape for second floor. Great location close to 146 and 95, bus routes, schools, etc. First floor is currently occupied with a solid tenant that wishes to stay. This home WILL NOT LAST! Book your tour TODAY!

4. 2022-11-10
   soldstatus $300,000

   Show marketing remark (460 chars)

   Investors take notice! This great little 2-family in Pawtucket is now available! First floor is a one bedroom, one bathroom currently being used as a two bedroom. Upstairs is a one/two bed one bathroom unit. Separate entrances for both units with fire escape for second floor. Great location close to 146 and 95, bus routes, schools, etc. First floor is currently occupied with a solid tenant that wishes to stay. This home WILL NOT LAST! Book your tour TODAY!

5. 2022-10-05
   status Pending 460-char remark

   Show marketing remark (460 chars)

   Investors take notice! This great little 2-family in Pawtucket is now available! First floor is a one bedroom, one bathroom currently being used as a two bedroom. Upstairs is a one/two bed one bathroom unit. Separate entrances for both units with fire escape for second floor. Great location close to 146 and 95, bus routes, schools, etc. First floor is currently occupied with a solid tenant that wishes to stay. This home WILL NOT LAST! Book your tour TODAY!

6. 2022-09-22
   listed $289,900 Active 460-char remark

   Show marketing remark (460 chars)

   Investors take notice! This great little 2-family in Pawtucket is now available! First floor is a one bedroom, one bathroom currently being used as a two bedroom. Upstairs is a one/two bed one bathroom unit. Separate entrances for both units with fire escape for second floor. Great location close to 146 and 95, bus routes, schools, etc. First floor is currently occupied with a solid tenant that wishes to stay. This home WILL NOT LAST! Book your tour TODAY!

7. 2013-05-30
   soldstatus $99,900 146-char remark

   Show marketing remark (146 chars)

   TWO FAMILY LOCATED IN FAIRLAWN FEATURES 1-2 BED APARTMENT, 1-1 BED APARTMENT, AMPLE PARKING, STORAGE SHED AND MORE!! GREAT LIVE IN OR INVESTMENT.

8. 2013-04-08
   historical 146-char remark

   Show marketing remark (146 chars)

   TWO FAMILY LOCATED IN FAIRLAWN FEATURES 1-2 BED APARTMENT, 1-1 BED APARTMENT, AMPLE PARKING, STORAGE SHED AND MORE!! GREAT LIVE IN OR INVESTMENT.

9. 2013-03-05
   listed $99,900 146-char remark

   Show marketing remark (146 chars)

   TWO FAMILY LOCATED IN FAIRLAWN FEATURES 1-2 BED APARTMENT, 1-1 BED APARTMENT, AMPLE PARKING, STORAGE SHED AND MORE!! GREAT LIVE IN OR INVESTMENT.

10. 2013-03-05
    historical

    Show marketing remark (146 chars)

    TWO FAMILY LOCATED IN FAIRLAWN FEATURES 1-2 BED APARTMENT, 1-1 BED APARTMENT, AMPLE PARKING, STORAGE SHED AND MORE!! GREAT LIVE IN OR INVESTMENT.

11. 2013-01-31
    listed $104,900
12. 2013-01-23
    historical
13. 2013-01-16
    listed $104,900
14. 1989-12-29
    soldstatus $45,000

ⓘ 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: $4,105 · $342/mo
• Projected year-2 tax: $5,312 · $443/mo
• Expected delta: +$1,207/yr (+$101/mo · 29.4%)

ⓘ 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 ≥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: $49,068
• − Mortgage interest: −$22,401
• − Property taxes: −$4,105
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,925
• − Management: −$3,925
• − Depreciation: −$11,633
• Taxable income: $1,079
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $7,235/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: Pawtucket
• NCES district ID: 4400840
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $41,838
• Composite: 11.29/100
• National rank: #9718
• State rank: #33 of 39 in RI

Livability — Pawtucket

• Score: 71/100
• State rank: #16
• US rank: #7037

Category grades

Amenities F Commute F 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: Pawtucket, RI
• County: Providence County · 548,917 people
• City population: 75,942
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 47,818
• Household income: $61,539
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 2528.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 29% Two or more races 22% Black 14% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 6%
• Common ancestry: Russian 9% Lithuanian 4% Romanian 2%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 22% Other Indo-European 9% French/Haitian/Cajun 9%

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: ▼ -215.00%
• Current HPI: 355.0152
• Rent YoY: ▲ 3.47%
• 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

+788.7% since first listed

14 events — show timeline

• 2025-05-20 Pending — RIS
• 2025-04-23 Listed $399,900 RIS
• 2022-11-10 Sold (Public Records) $300,000 Public Records
• 2022-11-10 Sold (MLS) $300,000 RIS
• 2022-10-05 Pending — RIS
• 2022-09-22 Listed $289,900 RIS
• 2013-05-30 Sold (MLS) $99,900 RIS
• 2013-04-08 Listing Removed — RIS
• 2013-03-05 Listed $99,900 RIS
• 2013-03-05 Listing Removed — RIS
• 2013-01-31 Listed $104,900 RIS
• 2013-01-23 Listing Removed — RIS
• 2013-01-16 Listed $104,900 RIS
• 1989-12-29 Sold (Public Records) $45,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $4,105 · +6.5% YoY. Source: county tax records.