173 Whittier Ave · Providence, RI 02909

$660,000

8 bd · 4.0 ba · 3,182 sqft · MultiFamily public records · 66 Days on market

Built 1910 5,000 sqft lot $207/sqft · 7% above area Est $619k · 7% over

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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 +27.2/30.0
• DSCR +9.5/10.0
• 1% rule +6.4/10.0
• ARV discount +4.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome to 173 Whittier Ave Providence, a legal 3-unit multifamily property offering an excellent investment opportunity or a perfect home for those seeking both convenience and comfort. Situated on a fenced corner lot, this property boasts a well-maintained exterior and ample outdoor space, ensuring privacy and security. The property features 3 spacious units, each with its unique layout. Ideal for both renters and owner-occupants. Some upgrades include new electrical throughout the property, new smoke combo alarms , updates in the bathrooms, kitchens and floors. Just minutes away, providing easy access to groceries, retail stores, and essential services, located near schools, restaurants and hospital. Convenient access to major highways simplifies commuting and enhances connectivity to surrounding areas. * * Parking: * * Ample off-street parking available for residents and guests. This property is ideal for investors looking for rental income or families seeking a spacious home with the added benefit of multi-unit living. Its strategic location near essential amenities makes daily errands a breeze, combining urban living with comfort. Contact listing agent to schedule a showing * * * * HIGHEST & BEST DUE TUESDAY 05/05/26 @ 5pm * * * *

Key facts

• Ample outdoor space
• Updates in bathrooms
• New electrical

Tags

• FENCED CORNER LOT
• WELL MAINTAINED EXTERIOR
• AMPLE OUTDOOR SPACE
• NEW ELECTRICAL
• NEW SMOKE COMBO ALARMS
• UPDATES IN BATHROOMS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $660k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $632/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $660k).
• Recommended offer: $620k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+3.7%/yr); 132 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $7,541/mo this rent would consume 140% of the median local household income ($65k/yr) (locally 2000% 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 $5k of loan paydown is wiped out by about $20k 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 + 3.7% rent growth), your $185k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($620k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $538k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $620,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.14% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.30%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

• ARV (median comp): $618,777
• List price: $660,000
• Delta: 6.66%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.68% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $18,717
• Equity at exit: $98,408

10-year hold

• IRR: 12.8%
• Equity multiple: 2.04×
• Total profit: $192,502
• Equity at exit: $57,065

Cash invested: $184,800 (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 02909

• Home prices YoY: -13.3%
• Rents YoY: 3.7%
• Active inventory: 132
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $7,541 high
• Mortgage (P&I): −$3,461
• Tax from tax record: −$327 /mo · $3,921/yr
• Insurance: −$275
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,584
• Net cashflow: $1,895

Break-even live

Break-even rent $5,143

Max offer price $660,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,542
Total (3 units)			$7,541

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: $165,000
• Closing costs: $19,800
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $660,000 Active 66 DOM
2. 2026-06-17
   days on market $660,000 Active 65 DOM
3. 2026-06-16
   days on market $660,000 Active 64 DOM
4. 2026-06-15
   days on market $660,000 Active 63 DOM
5. 2026-06-13
   days on market $660,000 Active 61 DOM
6. 2026-06-09
   days on market $660,000 Active 57 DOM
7. 2026-06-08
   days on market $660,000 Active 56 DOM
8. 2026-06-07
   days on market $660,000 Active 55 DOM
9. 2026-06-05
   days on market $660,000 Active 52 DOM
10. 2026-06-03
    days on market $660,000 Active 51 DOM
11. 2026-06-02
    days on market $660,000 Active 50 DOM
12. 2026-06-01
    days on market $660,000 Active 49 DOM
13. 2026-05-31
    days on market $660,000 Active 48 DOM
14. 2026-04-27
    price $660,000 1273-char remark

    Show marketing remark (1273 chars)

    Welcome to 173 Whittier Ave Providence, a legal 3-unit multifamily property offering an excellent investment opportunity or a perfect home for those seeking both convenience and comfort. Situated on a fenced corner lot, this property boasts a well-maintained exterior and ample outdoor space, ensuring privacy and security. The property features 3 spacious units, each with its unique layout. Ideal for both renters and owner-occupants. Some upgrades include new electrical throughout the property, new smoke combo alarms , updates in the bathrooms, kitchens and floors. Just minutes away, providing easy access to groceries, retail stores, and essential services, located near schools, restaurants and hospital. Convenient access to major highways simplifies commuting and enhances connectivity to surrounding areas. * * Parking: * * Ample off-street parking available for residents and guests. This property is ideal for investors looking for rental income or families seeking a spacious home with the added benefit of multi-unit living. Its strategic location near essential amenities makes daily errands a breeze, combining urban living with comfort. Contact listing agent to schedule a showing * * * * HIGHEST & BEST DUE TUESDAY 05/05/26 @ 5pm * * * *

15. 2026-04-27
    status Active 1273-char remark

    Show marketing remark (1273 chars)

    Welcome to 173 Whittier Ave Providence, a legal 3-unit multifamily property offering an excellent investment opportunity or a perfect home for those seeking both convenience and comfort. Situated on a fenced corner lot, this property boasts a well-maintained exterior and ample outdoor space, ensuring privacy and security. The property features 3 spacious units, each with its unique layout. Ideal for both renters and owner-occupants. Some upgrades include new electrical throughout the property, new smoke combo alarms , updates in the bathrooms, kitchens and floors. Just minutes away, providing easy access to groceries, retail stores, and essential services, located near schools, restaurants and hospital. Convenient access to major highways simplifies commuting and enhances connectivity to surrounding areas. * * Parking: * * Ample off-street parking available for residents and guests. This property is ideal for investors looking for rental income or families seeking a spacious home with the added benefit of multi-unit living. Its strategic location near essential amenities makes daily errands a breeze, combining urban living with comfort. Contact listing agent to schedule a showing * * * * HIGHEST & BEST DUE TUESDAY 05/05/26 @ 5pm * * * *

16. 2026-03-02
    status Pending 1273-char remark

    Show marketing remark (1273 chars)

    Welcome to 173 Whittier Ave Providence, a legal 3-unit multifamily property offering an excellent investment opportunity or a perfect home for those seeking both convenience and comfort. Situated on a fenced corner lot, this property boasts a well-maintained exterior and ample outdoor space, ensuring privacy and security. The property features 3 spacious units, each with its unique layout. Ideal for both renters and owner-occupants. Some upgrades include new electrical throughout the property, new smoke combo alarms , updates in the bathrooms, kitchens and floors. Just minutes away, providing easy access to groceries, retail stores, and essential services, located near schools, restaurants and hospital. Convenient access to major highways simplifies commuting and enhances connectivity to surrounding areas. * * Parking: * * Ample off-street parking available for residents and guests. This property is ideal for investors looking for rental income or families seeking a spacious home with the added benefit of multi-unit living. Its strategic location near essential amenities makes daily errands a breeze, combining urban living with comfort. Contact listing agent to schedule a showing * * * * HIGHEST & BEST DUE TUESDAY 05/05/26 @ 5pm * * * *

17. 2026-02-16
    listed $629,000 Active 1273-char remark

    Show marketing remark (1273 chars)

    Welcome to 173 Whittier Ave Providence, a legal 3-unit multifamily property offering an excellent investment opportunity or a perfect home for those seeking both convenience and comfort. Situated on a fenced corner lot, this property boasts a well-maintained exterior and ample outdoor space, ensuring privacy and security. The property features 3 spacious units, each with its unique layout. Ideal for both renters and owner-occupants. Some upgrades include new electrical throughout the property, new smoke combo alarms , updates in the bathrooms, kitchens and floors. Just minutes away, providing easy access to groceries, retail stores, and essential services, located near schools, restaurants and hospital. Convenient access to major highways simplifies commuting and enhances connectivity to surrounding areas. * * Parking: * * Ample off-street parking available for residents and guests. This property is ideal for investors looking for rental income or families seeking a spacious home with the added benefit of multi-unit living. Its strategic location near essential amenities makes daily errands a breeze, combining urban living with comfort. Contact listing agent to schedule a showing * * * * HIGHEST & BEST DUE TUESDAY 05/05/26 @ 5pm * * * *

18. 2024-05-16
    soldstatus $537,850 Sold 767-char remark

    Show marketing remark (767 chars)

    173 Whittier Ave is a distinguished three-family property with classic architectural charm, large units, and ample parking. The first and second floors offer spacious 3-4 bedroom layouts, while the third level features a charming 2-bedroom apartment. The property is rich in character with hardwood floors and could benefit from cosmetic updates to align with contemporary living standards. It presents a significant investment opportunity, combining potential rental income with the chance to preserve and enhance its historical allure. The diverse unit configurations make it attractive in the rental market, offering excellent income generation. For owner-occupants, it offers the unique opportunity to reside in Providence's history while renting out other units.

19. 2024-05-16
    soldstatus $537,850 Closed

    Show marketing remark (767 chars)

    173 Whittier Ave is a distinguished three-family property with classic architectural charm, large units, and ample parking. The first and second floors offer spacious 3-4 bedroom layouts, while the third level features a charming 2-bedroom apartment. The property is rich in character with hardwood floors and could benefit from cosmetic updates to align with contemporary living standards. It presents a significant investment opportunity, combining potential rental income with the chance to preserve and enhance its historical allure. The diverse unit configurations make it attractive in the rental market, offering excellent income generation. For owner-occupants, it offers the unique opportunity to reside in Providence's history while renting out other units.

20. 2024-05-15
    soldstatus $537,850
21. 2024-05-05
    status Pending
22. 2024-04-23
    status Under Agreement 767-char remark

    Show marketing remark (767 chars)

    173 Whittier Ave is a distinguished three-family property with classic architectural charm, large units, and ample parking. The first and second floors offer spacious 3-4 bedroom layouts, while the third level features a charming 2-bedroom apartment. The property is rich in character with hardwood floors and could benefit from cosmetic updates to align with contemporary living standards. It presents a significant investment opportunity, combining potential rental income with the chance to preserve and enhance its historical allure. The diverse unit configurations make it attractive in the rental market, offering excellent income generation. For owner-occupants, it offers the unique opportunity to reside in Providence's history while renting out other units.

23. 2024-04-09
    historical Active Under Contract

    Show marketing remark (767 chars)

    173 Whittier Ave is a distinguished three-family property with classic architectural charm, large units, and ample parking. The first and second floors offer spacious 3-4 bedroom layouts, while the third level features a charming 2-bedroom apartment. The property is rich in character with hardwood floors and could benefit from cosmetic updates to align with contemporary living standards. It presents a significant investment opportunity, combining potential rental income with the chance to preserve and enhance its historical allure. The diverse unit configurations make it attractive in the rental market, offering excellent income generation. For owner-occupants, it offers the unique opportunity to reside in Providence's history while renting out other units.

24. 2024-04-09
    historical Contingent 767-char remark

    Show marketing remark (767 chars)

    173 Whittier Ave is a distinguished three-family property with classic architectural charm, large units, and ample parking. The first and second floors offer spacious 3-4 bedroom layouts, while the third level features a charming 2-bedroom apartment. The property is rich in character with hardwood floors and could benefit from cosmetic updates to align with contemporary living standards. It presents a significant investment opportunity, combining potential rental income with the chance to preserve and enhance its historical allure. The diverse unit configurations make it attractive in the rental market, offering excellent income generation. For owner-occupants, it offers the unique opportunity to reside in Providence's history while renting out other units.

25. 2024-03-22
    listed $489,000 New 767-char remark

    Show marketing remark (767 chars)

    173 Whittier Ave is a distinguished three-family property with classic architectural charm, large units, and ample parking. The first and second floors offer spacious 3-4 bedroom layouts, while the third level features a charming 2-bedroom apartment. The property is rich in character with hardwood floors and could benefit from cosmetic updates to align with contemporary living standards. It presents a significant investment opportunity, combining potential rental income with the chance to preserve and enhance its historical allure. The diverse unit configurations make it attractive in the rental market, offering excellent income generation. For owner-occupants, it offers the unique opportunity to reside in Providence's history while renting out other units.

26. 2024-03-22
    listed $489,000 Active

    Show marketing remark (767 chars)

    173 Whittier Ave is a distinguished three-family property with classic architectural charm, large units, and ample parking. The first and second floors offer spacious 3-4 bedroom layouts, while the third level features a charming 2-bedroom apartment. The property is rich in character with hardwood floors and could benefit from cosmetic updates to align with contemporary living standards. It presents a significant investment opportunity, combining potential rental income with the chance to preserve and enhance its historical allure. The diverse unit configurations make it attractive in the rental market, offering excellent income generation. For owner-occupants, it offers the unique opportunity to reside in Providence's history while renting out other units.

27. 2006-06-05
    historical
28. 2006-01-05
    listed $339,900

ⓘ 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: $3,921 · $327/mo
• Projected year-2 tax: $7,339 · $612/mo
• Expected delta: +$3,418/yr (+$285/mo · 87.2%)

ⓘ 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 71% 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: $90,492
• − Mortgage interest: −$36,970
• − Property taxes: −$3,921
• − Insurance: −$3,300
• − Repairs & maintenance: −$7,239
• − Management: −$7,239
• − Depreciation: −$19,200
• Taxable income: $12,622
• Est. tax owed @ 24.0%: −$3,029
• After-tax cash flow: $19,705/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): 46,014
• Household income: $64,649
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 2000.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 23% White 22% Black 12% Asian 2% Native American 2%
• Hispanic origin (detail): Puerto Rican 12% Dominican 23%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica
• Languages at home: 43% English-only · Spanish 50% Other Indo-European 2% Other Asian/Pacific 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: ▼ -72.78%
• Current HPI: 474.9956
• Rent YoY: ▲ 3.68%
• 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

+94.2% since first listed

15 events — show timeline

• 2026-04-27 Price Changed $660,000 RIS
• 2026-04-27 Relisted — RIS
• 2026-03-02 Pending — RIS
• 2026-02-16 Listed $629,000 RIS
• 2024-05-16 Sold (MLS) $537,850 RIS
• 2024-05-16 Sold (MLS) $537,850 MLS PIN
• 2024-05-15 Sold (Public Records) $537,850 Public Records
• 2024-05-05 Pending — RIS
• 2024-04-23 Pending — MLS PIN
• 2024-04-09 Contingent — RIS
• 2024-04-09 Contingent — MLS PIN
• 2024-03-22 Listed $489,000 RIS
• 2024-03-22 Listed $489,000 MLS PIN
• 2006-06-05 Listing Removed — RIS
• 2006-01-05 Listed $339,900 RIS

Property tax history

-0.8%/yr

Latest (2025): $3,921 · -35.9% YoY. Source: county tax records.