90 Pulaski Rd

Pascoag, RI 02814

$449,999F

3 bd · 1.0 ba · 1,144 sqft · Built 1983 · SingleFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,647/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$538
• HOA: −$0
• Vac / Maint / Mgmt: −$556
• Net cashflow: $-807/mo
• Annual: $-9,684/yr
• Cap rate: 4.14%
• Cash-on-cash: -7.69%
• DSCR: 0.66
• 1% rule: 0.59%
• Cash to close: $126,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $450k.
• At list price, monthly cash flow is $-807 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $307k (31.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (41.2% below list).
• It's been on market 37 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $265k (41.2% below list) — sets the bar for 1% rule.
• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Location reads 70/100 on livability (#17 in RI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools F, amenities F, commute F.
• Glocester (rural): math 46% / reading 66% proficiency, ranked #4 of 39 in RI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 39 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 54% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.