410 Carrington Ave · Woonsocket, RI 02895

$499,800

6 bd · 2.0 ba · 2,552 sqft · MultiFamily public records · 591 Days on market

Built 1920 4,138 sqft lot $196/sqft · 69% above area Est $655k · 24% 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).

• ARV discount +15.0/15.0
• Cash flow +10.0/30.0
• Rent growth +4.8/5.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• 1% rule +2.5/10.0
• 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

Attention Investors! This 2-family property (Potential for a 3rd Fl Unit) is a fantastic opportunity for homeowners and investors alike! Featuring spacious units with generous natural light, this home is in good condition, with several finishing touches needed to make it fully move-in-ready. With just a bit of work in the usable attic space, basement and hallways, this property can truly shine and feel like home. The house features a Full, Walk-Up Attic, providing a Potential 3rd Apartment, or 2nd fl townhouse style conversion. Perfectly suited for owner occupancy or rental income, each unit provides a warm, inviting space with a solid foundation. Additional highlights includes ample parking and an integral garage in the basement, and dual porches, situated in a desirable, friendly neighborhood with easy access to local shops, schools, and public transportation, this property is close to all the essentials while maintaining a peaceful residential feel. Bring your vision and make this home truly yours, whether it's a fresh coat of paint, some modern fixtures, or a few personal upgrades. This home is ready for its next chapter don't miss out on this excellent investment opportunity! Everyting is Negotiable - All OFFERs Considered! See Video Links above for Walk-thru tour Montage.

Key facts

• 2 family home
• heart of woonsocket
• 4,138 sq ft lot

Tags

• 2 FAMILY HOME
• HEART OF WOONSOCKET

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $-298 ($-4k/yr) — negative. Per door: $-149/mo.
• To cash-flow at today's rent, offer at most $447k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $373k (25.4% below list).
• Recommended offer: $373k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.1% 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); 165 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,730/mo this rent would consume 73% 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 $15k 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 591 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 29y 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 $118k; list at $500k implies a 325% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $373,000 (25.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 591 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.75% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.55%
• DSCR: 0.89
• GRM: 11.2

CMA / ARV

• ARV (median comp): $654,717
• List price: $499,800
• Delta: -23.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 Carrington Ave	0.01mi	7/3.0 (+1)	2,914 (+14%)	1mo	$645,000	$221	66
32 Jackson St	0.59mi	6/2.0	2,547 (-0%)	9mo	$610,000	$239	65
177 Logee St	0.65mi	7/3.0 (+1)	2,601 (+2%)	1mo	$630,000	$242	57
447 Front St	0.69mi	7/2.0 (+1)	2,450 (-4%)	13mo	$530,000	$216	45
58 Paradis Ave	0.25mi	7/3.5 (+1)	2,356 (-8%)	24mo	$552,000	$234	45
408 Cumberland Hill Rd	0.50mi	6/3.0	2,792 (+9%)	18mo	$555,000	$199	42

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: -15.5%
• Equity multiple: 0.43×
• Total profit: $-80,311
• Equity at exit: $74,522

10-year hold

• IRR: -0.4%
• Equity multiple: 0.96×
• Total profit: $-4,927
• Equity at exit: $43,214

Cash invested: $139,944 (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: 165
• Price-to-rent: 22.3×

Monthly cashflow live

• Estimated rent: $3,730 high
• Mortgage (P&I): −$2,621
• Tax from tax record: −$415 /mo · $4,982/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$783
• Net cashflow: $-298

Break-even live

Break-even rent $4,107

Max offer price $447,206

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-156	+0% $-298	+5% $-439	+10% $-581
Rent	-10% $-592	-5% $-445	+0% $-298	+5% $-150	+10% $-3
Rate	-1.0pp $-46	-0.5pp $-171	base $-298	+0.5pp $-427	+1.0pp $-559

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,730
Total (2 units)			$3,730

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: $124,950
• Closing costs: $14,994
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Chester St Unit 3 Woonsocket, RI	5.0	2.0	2000	$2,200	$1.10	45d	1	0.72mi
335 Blackstone St Woonsocket, RI	6.0	2.0	2400	$2,900	$1.21	3d	1	0.95mi

Listing history 43 events

1. 2026-06-21
   days on market $499,800 Active 591 DOM
2. 2026-06-18
   days on market $499,800 Active 588 DOM
3. 2026-06-17
   days on market $499,800 Active 587 DOM
4. 2026-06-16
   days on market $499,800 Active 586 DOM
5. 2026-06-15
   days on market $499,800 Active 585 DOM
6. 2026-06-13
   days on market $499,800 Active 583 DOM
7. 2026-06-13
   days on market $499,800 Active 582 DOM
8. 2026-06-09
   days on market $499,800 Active 579 DOM
9. 2026-06-08
   days on market $499,800 Active 578 DOM
10. 2026-06-07
    days on market $499,800 Active 577 DOM
11. 2026-06-05
    days on market $499,800 Active 574 DOM
12. 2026-06-03
    days on market $499,800 Active 573 DOM
13. 2026-06-02
    days on market $499,800 Active 572 DOM
14. 2026-06-01
    days on market $499,800 Active 571 DOM
15. 2026-05-31
    days on market $499,800 Active 570 DOM
16. 2024-12-07
    status Active 1301-char remark

    Show marketing remark (1301 chars)

    Attention Investors! This 2-family property (Potential for a 3rd Fl Unit) is a fantastic opportunity for homeowners and investors alike! Featuring spacious units with generous natural light, this home is in good condition, with several finishing touches needed to make it fully move-in-ready. With just a bit of work in the usable attic space, basement and hallways, this property can truly shine and feel like home. The house features a Full, Walk-Up Attic, providing a Potential 3rd Apartment, or 2nd fl townhouse style conversion. Perfectly suited for owner occupancy or rental income, each unit provides a warm, inviting space with a solid foundation. Additional highlights includes ample parking and an integral garage in the basement, and dual porches, situated in a desirable, friendly neighborhood with easy access to local shops, schools, and public transportation, this property is close to all the essentials while maintaining a peaceful residential feel. Bring your vision and make this home truly yours, whether it's a fresh coat of paint, some modern fixtures, or a few personal upgrades. This home is ready for its next chapter don't miss out on this excellent investment opportunity! Everyting is Negotiable - All OFFERs Considered! See Video Links above for Walk-thru tour Montage.

17. 2024-11-28
    status Pending 1301-char remark

    Show marketing remark (1301 chars)

    Attention Investors! This 2-family property (Potential for a 3rd Fl Unit) is a fantastic opportunity for homeowners and investors alike! Featuring spacious units with generous natural light, this home is in good condition, with several finishing touches needed to make it fully move-in-ready. With just a bit of work in the usable attic space, basement and hallways, this property can truly shine and feel like home. The house features a Full, Walk-Up Attic, providing a Potential 3rd Apartment, or 2nd fl townhouse style conversion. Perfectly suited for owner occupancy or rental income, each unit provides a warm, inviting space with a solid foundation. Additional highlights includes ample parking and an integral garage in the basement, and dual porches, situated in a desirable, friendly neighborhood with easy access to local shops, schools, and public transportation, this property is close to all the essentials while maintaining a peaceful residential feel. Bring your vision and make this home truly yours, whether it's a fresh coat of paint, some modern fixtures, or a few personal upgrades. This home is ready for its next chapter don't miss out on this excellent investment opportunity! Everyting is Negotiable - All OFFERs Considered! See Video Links above for Walk-thru tour Montage.

18. 2024-10-28
    listed $499,800 Active 1301-char remark

    Show marketing remark (1301 chars)

    Attention Investors! This 2-family property (Potential for a 3rd Fl Unit) is a fantastic opportunity for homeowners and investors alike! Featuring spacious units with generous natural light, this home is in good condition, with several finishing touches needed to make it fully move-in-ready. With just a bit of work in the usable attic space, basement and hallways, this property can truly shine and feel like home. The house features a Full, Walk-Up Attic, providing a Potential 3rd Apartment, or 2nd fl townhouse style conversion. Perfectly suited for owner occupancy or rental income, each unit provides a warm, inviting space with a solid foundation. Additional highlights includes ample parking and an integral garage in the basement, and dual porches, situated in a desirable, friendly neighborhood with easy access to local shops, schools, and public transportation, this property is close to all the essentials while maintaining a peaceful residential feel. Bring your vision and make this home truly yours, whether it's a fresh coat of paint, some modern fixtures, or a few personal upgrades. This home is ready for its next chapter don't miss out on this excellent investment opportunity! Everyting is Negotiable - All OFFERs Considered! See Video Links above for Walk-thru tour Montage.

19. 2019-09-20
    price $249,900 128-char remark

    Show marketing remark (128 chars)

    NICELY MAINTAINED 2 FAMILY LOCATED IN THE BERNON AREA, SPACIOUS APARTMENTS, VINYL SIDED, UPDATED WINDOWS, LARGE INTERGRAL GARAGE

20. 2017-10-04
    soldstatus $117,513 Sold
21. 2017-10-04
    soldstatus $117,513 Sold
22. 2017-08-17
    status Pending
23. 2017-06-28
    status Contingent
24. 2017-06-28
    historical Under Contract: REO Offer Accepted
25. 2017-06-21
    status Back On Market
26. 2017-06-21
    status Active
27. 2017-04-26
    status Pending
28. 2017-04-14
    historical
29. 2017-04-14
    status Contingent
30. 2017-04-14
    historical Active - Under Contract
31. 2017-04-14
    historical
32. 2017-04-05
    listed $138,000 New
33. 2017-04-05
    listed $138,000 Active
34. 2010-02-09
    soldstatus $104,000
35. 2009-12-01
    historical
36. 2009-11-14
    listed $99,000
37. 2006-01-25
    soldstatus $240,000 128-char remark

    Show marketing remark (128 chars)

    NICELY MAINTAINED 2 FAMILY LOCATED IN THE BERNON AREA, SPACIOUS APARTMENTS, VINYL SIDED, UPDATED WINDOWS, LARGE INTERGRAL GARAGE

38. 2006-01-25
    soldstatus $240,000

    Show marketing remark (128 chars)

    NICELY MAINTAINED 2 FAMILY LOCATED IN THE BERNON AREA, SPACIOUS APARTMENTS, VINYL SIDED, UPDATED WINDOWS, LARGE INTERGRAL GARAGE

39. 2005-12-15
    historical 128-char remark

    Show marketing remark (128 chars)

    NICELY MAINTAINED 2 FAMILY LOCATED IN THE BERNON AREA, SPACIOUS APARTMENTS, VINYL SIDED, UPDATED WINDOWS, LARGE INTERGRAL GARAGE

40. 2005-07-29
    listed $259,900 128-char remark

    Show marketing remark (128 chars)

    NICELY MAINTAINED 2 FAMILY LOCATED IN THE BERNON AREA, SPACIOUS APARTMENTS, VINYL SIDED, UPDATED WINDOWS, LARGE INTERGRAL GARAGE

41. 2001-02-02
    soldstatus $106,000
42. 1997-08-28
    historical
43. 1997-02-28
    listed $105,000

ⓘ 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: $4,982 · $415/mo
• Projected year-2 tax: $6,564 · $547/mo
• Expected delta: +$1,582/yr (+$132/mo · 31.8%)

ⓘ 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: $44,760
• − Mortgage interest: −$27,997
• − Property taxes: −$4,982
• − Insurance: −$2,499
• − Repairs & maintenance: −$3,581
• − Management: −$3,581
• − Depreciation: −$14,540
• Taxable loss: −$12,419
• Est. tax savings @ 24.0%: +$2,981
• After-tax cash flow: $-592/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

+376.0% since first listed

28 events — show timeline

• 2024-12-07 Relisted — RIS
• 2024-11-28 Pending — RIS
• 2024-10-28 Listed $499,800 RIS
• 2019-09-20 Price Changed $249,900 RIS
• 2017-10-04 Sold (MLS) $117,513 RIS
• 2017-10-04 Sold (MLS) $117,513 MLS PIN
• 2017-08-17 Pending — RIS
• 2017-06-28 Pending — MLS PIN
• 2017-06-28 Contingent — RIS
• 2017-06-21 Relisted — MLS PIN
• 2017-06-21 Relisted — RIS
• 2017-04-26 Pending — RIS
• 2017-04-14 Listing Removed — MLS PIN
• 2017-04-14 Pending — MLS PIN
• 2017-04-14 Contingent — RIS
• 2017-04-14 Listing Removed — RIS
• 2017-04-05 Listed $138,000 MLS PIN
• 2017-04-05 Listed $138,000 RIS
• 2010-02-09 Sold (MLS) $104,000 RIS
• 2009-12-01 Listing Removed — RIS
• 2009-11-14 Listed $99,000 RIS
• 2006-01-25 Sold (Public Records) $240,000 Public Records
• 2006-01-25 Sold (MLS) $240,000 RIS
• 2005-12-15 Listing Removed — RIS
• 2005-07-29 Listed $259,900 RIS
• 2001-02-02 Sold (Public Records) $106,000 Public Records
• 1997-08-28 Listing Removed — RIS
• 1997-02-28 Listed $105,000 RIS

Property tax history

+1.2%/yr

Latest (2025): $4,982 · +12.6% YoY. Source: county tax records.