50 Round Lake Dr

Pascoag, RI 02859

$150,000B+

2 bd · 2.0 ba · 1,730 sqft · Built 1961 · SingleFamily · Pending · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,100/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$168
• HOA: −$0
• Vac / Maint / Mgmt: −$441
• Net cashflow: $704/mo
• Annual: $8,445/yr
• Cap rate: 11.92%
• Cash-on-cash: 20.11%
• DSCR: 1.89
• 1% rule: 1.40%
• Cash to close: $42,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 53 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• In year one you build about $16k of equity ($1k loan paydown + $15k 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.
• Burrillville (suburban): math 14% / reading 29% proficiency, ranked #27 of 39 in RI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 49 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.
• 5 sale attempts since 11y 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.