33 Pleasant St · Woonsocket, RI 02895

$389,900

3 bd · 2.0 ba · 1,202 sqft · MultiFamily public records · 37 Days on market

Built 1900 2,614 sqft lot $324/sqft · 24% above area Est $472k · 17% under

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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).

• Cash flow +15.4/30.0
• ARV discount +15.0/15.0
• Rent growth +4.8/5.0
• DSCR +4.7/10.0
• 1% rule +3.5/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

Key facts

• 2,614 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Finance

• Financial info: Operating expenses reported at $988

Exterior

• Parking: No garage; Space for 4 vehicles (total parking)
• Utilities: Public water; Public sewer; Electrical service: 100 amp
• Home design: Two-story building; One building containing two residential units; Approximately 1,800 above-grade finished area
• Construction: Wood siding with drywall interior; Built with standard foundation
• Exterior features: Lot zoned R4; Lot approximately 0.06 acres (2,614 sq ft)

Interior

• Kitchen: Refrigerator; Oven; Range; Microwave; Dishwasher
• Bedrooms: One-bedroom and two-bedroom units (total 2 units)
• Flooring: Laminate
• Bathrooms: Two full bathrooms (total for property); each unit has one full bathroom
• Heating & cooling: Forced air heating (gas)
• Interior features: Full, unfinished basement with interior entry; Stall shower and tub/shower
• Laundry & utility: Utility room; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive. Per door: $74/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 $332k (14.7% below list).
• Recommended offer: $332k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,325/mo this rent would consume 65% 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 $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 37 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $250k; list at $390k implies a 56% 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, 63% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $332,500 (14.7% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.63%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

• ARV (median comp): $471,508
• List price: $389,900
• Delta: -17.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
339 Vose St	0.45mi	4/2.0 (+1)	1,362 (+13%)	16mo	$474,300	$348	39

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: -8.7%
• Equity multiple: 0.67×
• Total profit: $-36,263
• Equity at exit: $58,135

10-year hold

• IRR: 6.1%
• Equity multiple: 1.55×
• Total profit: $60,205
• Equity at exit: $33,711

Cash invested: $109,172 (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: 19.5×

Monthly cashflow live

• Estimated rent: $3,325 high
• Mortgage (P&I): −$2,045
• Tax from tax record: −$272 /mo · $3,259/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$698
• Net cashflow: $148

Break-even live

Break-even rent $3,138

Max offer price $389,900

Occupancy floor 91%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,324
Total (2 units)			$3,325

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 East St Unit 2 Woonsocket, RI	3.0	1.0	1100	$1,900	$1.73	43d	1	0.11mi
156 Pleasant St Unit 3 Woonsocket, RI	3.0	1.0	1088	$1,850	$1.70	2d	1	0.15mi
64 Erie St Woonsocket, RI	2.0	1.0	800	$1,685	$2.11	43d	1	0.22mi
395 S Main St Unit 2 Woonsocket, RI	2.0	1.0	900	$1,495	$1.66	43d	1	0.22mi
29 Ross St Unit 1 Woonsocket, RI	3.0	1.0	1100	$2,000	$1.82	43d	1	0.30mi
436 S Main St Woonsocket, RI	3.0	1.0	1312	$2,800	$2.13	14d	1	0.30mi
85 Orchard St Unit 3 Woonsocket, RI	2.0	1.0	875	$1,350	$1.54	15d	1	0.31mi
80 Summit St Unit 2 Woonsocket, RI	2.0	1.0	900	$2,000	$2.22	1d	1	0.35mi
275 Front St Unit 281-3 Woonsocket, RI	3.0	1.0	1000	$1,400	$1.40	23d	1	0.43mi
21 7th Ave Unit 2 Woonsocket, RI	2.0	1.0	1100	$1,400	$1.27	19d	1	0.48mi
21 7th Ave Unit 2 Woonsocket, RI	2.0	1.0	1100	$1,200	$1.09	23d	1	0.48mi
633 Grove St Unit 1 Woonsocket, RI	2.0	1.0	1200	$1,800	$1.50	43d	1	0.51mi
505 Grove St Woonsocket, RI	2.0	1.0	1000	$1,650	$1.65	4d	1	0.53mi
505 Grove St Unit 3R Woonsocket, RI	2.0	1.0	1000	$1,650	$1.65	43d	1	0.53mi
232 Cottage St Unit 3 Woonsocket, RI	2.0	1.0	745	$1,450	$1.95	43d	1	0.61mi
216 Harris Ave Unit 2 Woonsocket, RI	2.0	1.0	1100	$1,850	$1.68	19d	1	0.63mi
576 Providence St Unit 3 Woonsocket, RI	2.0	1.0	1250	$2,000	$1.60	43d	1	0.63mi
34 Franklin St Woonsocket, RI	2.0	1.0	800	$1,495	$1.87	23d	1	0.67mi
188 Division St Unit 2F Woonsocket, RI	2.0	1.0	900	$2,000	$2.22	43d	1	0.74mi
188 Division St Unit 2R Woonsocket, RI	2.0	1.0	900	$1,900	$2.11	23d	1	0.74mi
188 Division St Unit 3R Woonsocket, RI	2.0	1.0	900	$1,800	$2.00	43d	1	0.74mi
24 Paradis Ave Unit 3 Woonsocket, RI	2.0	1.0	1080	$1,300	$1.20	43d	1	0.74mi
663 Bernon St Apt 2 Woonsocket, RI	3.0	1.0	1000	$2,395	$2.40	1d	1	0.83mi
204 Welles St Unit 2R Woonsocket, RI	3.0	1.0	1365	$1,875	$1.37	43d	1	0.87mi
52 Bellevue Ave Unit 3 Woonsocket, RI	2.0	1.0	900	$1,900	$2.11	16d	1	0.97mi
52 Bellevue Ave Unit 2 Woonsocket, RI	3.0	1.0	1400	$2,000	$1.43	15d	1	0.98mi
36 Roberts St Woonsocket, RI	2.0	1.0	850	$1,450	$1.71	43d	1	1.02mi
87 Manville Rd Woonsocket, RI	2.0	1.0	900	$1,500	$1.67	23d	1	1.02mi
455 Carrington Ave Unit 1F Woonsocket, RI	2.0	1.0	1134	$1,675	$1.48	43d	1	1.03mi
583 Willow St Woonsocket, RI	2.0	1.0	750	$1,595	$2.13	2d	1	1.10mi
365 E School St Apt 301D Woonsocket, RI	2.0	1.0	800	$1,300	$1.62	23d	1	1.11mi
550 Winter St Unit 1 Woonsocket, RI	3.0	1.0	1320	$2,000	$1.52	1d	1	1.11mi
59 Fairlawn Ave Unit 3 Woonsocket, RI	2.0	1.0	1120	$1,650	$1.47	15d	1	1.14mi
107 Mount Saint Charles Ave Unit 2 Woonsocket, RI	3.0	1.0	981	$1,675	$1.71	4d	1	1.16mi
26 Farm St Unit 3 Woonsocket, RI	2.0	1.0	700	$1,700	$2.43	15d	1	1.18mi
26 Farm St Unit 2 Woonsocket, RI	2.0	1.0	800	$1,900	$2.38	43d	1	1.18mi
515 E School St Unit 9 Woonsocket, RI	2.0	1.0	1080	$1,600	$1.48	4d	1	1.20mi
572 Gaskill St Unit 3 Blackstone, MA	3.0	1.0	1200	$1,895	$1.58	1d	1	1.27mi
51 Wood Ave Unit 1R Woonsocket, RI	2.0	1.0	1080	$1,325	$1.23	23d	1	1.31mi
220 Rathbun St Unit 2R Woonsocket, RI	2.0	1.0	850	$1,600	$1.88	1d	1	1.32mi

Listing history 24 events

1. 2026-06-18
   days on market $389,900 Active 37 DOM
2. 2026-06-17
   days on market $389,900 Active 36 DOM
3. 2026-06-16
   days on market $389,900 Active 35 DOM
4. 2026-06-15
   days on market $389,900 Active 34 DOM
5. 2026-06-13
   days on market $389,900 Active 32 DOM
6. 2026-06-13
   pricedays on market $389,900 Active 31 DOM
7. 2026-06-09
   days on market $399,900 Active 28 DOM
8. 2026-06-08
   days on market $399,900 Active 27 DOM
9. 2026-06-07
   days on market $399,900 Active 26 DOM
10. 2026-06-05
    days on market $399,900 Active 23 DOM
11. 2026-06-03
    days on market $399,900 Active 22 DOM
12. 2026-06-02
    days on market $399,900 Active 21 DOM
13. 2026-06-01
    days on market $399,900 Active 20 DOM
14. 2026-05-31
    days on market $399,900 Active 19 DOM
15. 2026-05-12
    listed $399,900 Active 526-char remark
16. 2021-04-28
    soldstatus $250,000 Closed 411-char remark

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

17. 2021-04-28
    soldstatus $250,000

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

18. 2021-03-15
    status Pending 411-char remark

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

19. 2021-03-08
    status Active 411-char remark

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

20. 2021-02-16
    status Pending 411-char remark

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

21. 2021-02-10
    price $244,900 411-char remark

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

22. 2021-01-12
    price $245,000 411-char remark

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

23. 2020-12-08
    listed $250,000 Active 411-char remark

    Show marketing remark (411 chars)

    Updated 2 family home with bright units. First floor features 2 beds 1 bath. Second floor features 1 bed 1 bath. Units have been updated and have great rental potential. Brand new windows throughout and a brand new gas furnace for the first floor unit. Off street parking. Great option for owner occupied and add supplemental income from the second unit. Plenty of off street parking in this one. DON'T MISS IT.

24. 2020-05-11
    soldstatus $55,000

ⓘ 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: $3,259 · $272/mo
• Projected year-2 tax: $4,807 · $401/mo
• Expected delta: +$1,548/yr (+$129/mo · 47.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $39,900
• − Mortgage interest: −$21,840
• − Property taxes: −$3,259
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,192
• − Management: −$3,192
• − Depreciation: −$11,343
• Taxable loss: −$4,876
• Est. tax savings @ 24.0%: +$1,170
• After-tax cash flow: $2,946/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

+608.9% since first listed

11 events — show timeline

• 2026-06-10 Price Changed $389,900 RIS
• 2026-05-12 Listed $399,900 RIS
• 2021-04-28 Sold (Public Records) $250,000 Public Records
• 2021-04-28 Sold (MLS) $250,000 RIS
• 2021-03-15 Pending — RIS
• 2021-03-08 Relisted — RIS
• 2021-02-16 Pending — RIS
• 2021-02-10 Price Changed $244,900 RIS
• 2021-01-12 Price Changed $245,000 RIS
• 2020-12-08 Listed $250,000 RIS
• 2020-05-11 Sold (Public Records) $55,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $3,259 · -4.1% YoY. Source: county tax records.