296 Potters Ave · Providence, RI 02905

$220,000

5 bd · 2.0 ba · 1,857 sqft · SingleFamily public records

Built 1925 2,178 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

this 4/5 bed

Key facts

• 2,178 sq ft lot
• 2 parking spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Cap rate 11.0% 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 $2,960/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 $2k of loan paydown is wiped out by about $7k 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 + 3.5% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 25y 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 $154k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $220,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.35% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.71%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $20,357
• Equity at exit: $32,803

10-year hold

• IRR: 18.0%
• Equity multiple: 2.52×
• Total profit: $93,742
• Equity at exit: $19,022

Cash invested: $61,600 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,960 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$235 /mo · $2,824/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $858

Break-even live

Break-even rent $1,874

Max offer price $220,000

Occupancy floor 66%

Sensitivity live

Price	-10% $982	-5% $920	+0% $858	+5% $796	+10% $733
Rent	-10% $624	-5% $741	+0% $858	+5% $975	+10% $1,092
Rate	-1.0pp $969	-0.5pp $914	base $858	+0.5pp $801	+1.0pp $743

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-02-12
   historical
2. 2026-02-12
   listed $220,000
3. 2019-03-01
   soldstatus $154,000
4. 2019-02-28
   soldstatus $149,000 Sold 12-char remark

   Show marketing remark (12 chars)

   this 4/5 bed

5. 2018-11-18
   status Pending 12-char remark

   Show marketing remark (12 chars)

   this 4/5 bed

6. 2018-10-31
   price $154,900 12-char remark

   Show marketing remark (12 chars)

   this 4/5 bed

7. 2018-10-19
   listed $159,000 Active 12-char remark

   Show marketing remark (12 chars)

   this 4/5 bed

8. 2014-12-31
   historical
9. 2014-09-20
   price $119,000
10. 2014-08-25
    price $129,000 Active - Price Changed
11. 2014-05-04
    price $139,900 Active - Price Changed
12. 2014-04-29
    listed $149,900 Active - New
13. 2013-12-19
    price $20,000
14. 2013-02-25
    listed $20,000
15. 2013-02-25
    soldstatus $19,000
16. 2013-02-19
    soldstatus $19,000
17. 2012-05-17
    historical
18. 2011-11-18
    listed $30,000
19. 2002-12-11
    soldstatus $78,000
20. 2002-12-11
    soldstatus $78,000
21. 2002-10-21
    historical
22. 2002-05-22
    listed $84,900
23. 2002-04-25
    historical
24. 2001-10-24
    listed $79,900

ⓘ 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: $2,824 · $235/mo
• Projected year-2 tax: $3,205 · $267/mo
• Expected delta: +$381/yr (+$32/mo · 13.5%)

ⓘ 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: $35,523
• − Mortgage interest: −$12,323
• − Property taxes: −$2,824
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,842
• − Management: −$2,842
• − Depreciation: −$6,400
• Taxable income: $7,192
• Est. tax owed @ 24.0%: −$1,726
• After-tax cash flow: $8,569/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

+175.3% since first listed

24 events — show timeline

• 2026-02-12 Listed $220,000 RIS
• 2026-02-12 Listing Removed — RIS
• 2019-03-01 Sold (Public Records) $154,000 Public Records
• 2019-02-28 Sold (MLS) $149,000 RIS
• 2018-11-18 Pending — RIS
• 2018-10-31 Price Changed $154,900 RIS
• 2018-10-19 Listed $159,000 RIS
• 2014-12-31 Listing Removed — RIS
• 2014-09-20 Price Changed $119,000 RIS
• 2014-08-25 Price Changed $129,000 RIS
• 2014-05-04 Price Changed $139,900 RIS
• 2014-04-29 Listed $149,900 RIS
• 2013-12-19 Price Changed $20,000 RIS
• 2013-02-25 Listed $20,000 RIS
• 2013-02-25 Sold (MLS) $19,000 RIS
• 2013-02-19 Sold (Public Records) $19,000 Public Records
• 2012-05-17 Listing Removed — RIS
• 2011-11-18 Listed $30,000 RIS
• 2002-12-11 Sold (Public Records) $78,000 Public Records
• 2002-12-11 Sold (MLS) $78,000 RIS
• 2002-10-21 Listing Removed — RIS
• 2002-05-22 Listed $84,900 RIS
• 2002-04-25 Listing Removed — RIS
• 2001-10-24 Listed $79,900 RIS

Property tax history

+0.1%/yr

Latest (2025): $2,824 · -37.2% YoY. Source: county tax records.