58 Myrtle St · Pawtucket, RI 02860

$430,000

5 bd · 2.0 ba · 2,341 sqft · MultiFamily public records · 1 Days on market

Built 1930 5,663 sqft lot Est $548k · 22% 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 +15.3/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +3.9/10.0
• 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

Estate Sale Investor Opportunity! Attention investors and contractors: Two-family property located at 58 Myrtle St. in Pawtucket being sold as-is as part of an estate sale. Property may not qualify for some types of financing. Buyer is responsible for completing all due diligence, including requirements related to lead certificate compliance with the city of Pawtucket. Great potential for renovation, rental income, or long-term investment. Conveniently located near highways, shopping, and local amenities. Cash or conventional preferred.

Key facts

• Local amenities
• Two-family property
• 5,663 sq ft lot

Tags

• TWO-FAMILY PROPERTY
• LOCAL AMENITIES

Property features AI

Finance

• Financial info: Property listed as a two-unit building (investor/multi-family opportunity)
• HOA & community: Nearby highway access, public transportation, shopping, restaurants, recreation area, hospital and schools

Exterior

• Parking: No garage; Two off-street parking spaces
• Utilities: Public water (connected); Public sewer (connected); Electric service 100 amps
• Home design: Multi-family property with 2 units in 1 building; 3 stories; Fixer condition; Above-grade finished area approximately 2,341
• Construction: Plaster and shingle siding; Combination foundation
• Exterior features: Front porch; Paved driveway; Fenced yard

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating with baseboard
• Interior features: Cathedral and vaulted ceilings; High ceilings; Storm doors; Tub with shower
• Laundry & utility: Gas water heater; Utility room; Storage room; Basement with interior and exterior entry (unfinished)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $430k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive. Per door: $80/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 $383k (11.0% below list).
• Recommended offer: $383k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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; 1 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,829/mo this rent would consume 75% 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 $13k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $4k; list at $430k implies a 10219% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $382,900 (11.0% 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 1930 — 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. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.59%
• DSCR: 1.07
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $547,794
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 21 Primrose St	0.31mi	6/2.0 (+1)	2,312 (-1%)	15mo	$570,000	$247	66
244 Broadway	0.28mi	6/4.0 (+1)	2,290 (-2%)	11mo	$470,000	$205	61
51 Mavis St	0.59mi	5/3.0	2,352 (+0%)	18mo	$550,000	$234	53
16 18 Brewster St	0.53mi	6/2.0 (+1)	2,500 (+7%)	8mo	$579,000	$232	52
43 Kenyon Ave	0.57mi	4/2.0 (-1)	2,458 (+5%)	12mo	$450,000	$183	50
51 Johnson St	0.48mi	6/3.0 (+1)	2,496 (+7%)	17mo	$625,000	$250	44
60 Field St	0.73mi	4/2.0 (-1)	2,136 (-9%)	7mo	$500,000	$234	41
181 S Bend St	0.53mi	4/3.0 (-1)	2,066 (-12%)	9mo	$580,000	$281	39
81 83 Young St	0.67mi	5/3.0	2,548 (+9%)	16mo	$570,000	$224	37
130 Hunts Ave	0.75mi	5/3.0	2,587 (+10%)	11mo	$604,000	$233	35
13 South St	0.59mi	6/3.0 (+1)	2,644 (+13%)	18mo	$525,000	$199	27
163 Sabin St	0.54mi	6/3.0 (+1)	2,676 (+14%)	21mo	$650,000	$243	25

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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-57,696
• Equity at exit: $64,114

10-year hold

• IRR: -3.6%
• Equity multiple: 0.75×
• Total profit: $-29,638
• Equity at exit: $37,179

Cash invested: $120,400 (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: 18.7×

Monthly cashflow live

• Estimated rent: $3,829 high
• Mortgage (P&I): −$2,255
• Tax from tax record: −$431 /mo · $5,173/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$804
• Net cashflow: $160

Break-even live

Break-even rent $3,627

Max offer price $430,000

Occupancy floor 91%

Sensitivity live

Price	-10% $403	-5% $281	+0% $160	+5% $38	+10% $-84
Rent	-10% $-143	-5% $8	+0% $160	+5% $311	+10% $462
Rate	-1.0pp $376	-0.5pp $269	base $160	+0.5pp $48	+1.0pp $-65

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,828
Total (2 units)			$3,829

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
97 Wendell St Pawtucket, RI	4.0	2.0	1680	$3,000	$1.79	2d	1	1.36mi

Listing history 3 events

1. 2026-04-29
   status Pending
2. 2026-04-28
   listed $430,000 Active
3. 2024-07-03
   soldstatus $4,167

ⓘ 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: $5,173 · $431/mo
• Projected year-2 tax: $6,091 · $508/mo
• Expected delta: +$918/yr (+$76/mo · 17.7%)

ⓘ 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 ≥98°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: $45,948
• − Mortgage interest: −$24,087
• − Property taxes: −$5,173
• − Insurance: −$2,150
• − Repairs & maintenance: −$3,676
• − Management: −$3,676
• − Depreciation: −$12,509
• Taxable loss: −$5,322
• Est. tax savings @ 24.0%: +$1,277
• After-tax cash flow: $3,194/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

+10219.2% since first listed

3 events — show timeline

• 2026-04-29 Pending — RIS
• 2026-04-28 Listed $430,000 RIS
• 2024-07-03 Sold (Public Records) $4,167 Public Records

Property tax history

+3.6%/yr

Latest (2025): $5,173 · +6.5% YoY. Source: county tax records.