20 22 Mount Pleasant View Ave · Cumberland Hill, RI 02864

$599,000

4 bd · 3.0 ba · 2,079 sqft · MultiFamily public records · 137 Days on market

Built 1930 0.65 ac lot $288/sqft · 57% above area Est $654k · 8% 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 +11.3/15.0
• Cash flow +8.2/30.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Rent growth +2.1/5.0
• 1% rule +1.8/10.0
• 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

* * PRICE DEDUCTION * * Newly renovated side-by-side duplex situated in desirable Cumberland Hill, set on over half an acre of land. The duplex includes newer appliances. Both units currently vacant ideal for either owner occupy or an investment. Unit 20 has a lead conformance certificate. This well-maintained townhouse style duplex offers 2 spacious bedrooms, 1 full bathroom and a half bathroom on each side along with ample storage throughout. Each unit features separate utilities, private basements and attic assess, providing convenience and efficiency for occupants. Laundry is thoughtfully located in the upstairs bathrooms, and the property offers abundant parking. There's an EV charger connected to unit 22. Ideally located with easy access to major routes and nearby local amenities. A fantastic opportunity to own a turn-key multifamily property don't miss out, schedule your showing today.

Key facts

• Over half an acre
• Separate utilities
• Newer appliances

Tags

• OVER HALF AN ACRE
• SEPARATE UTILITIES
• PRIVATE BASEMENTS
• ABUNDANT OFF-STREET PARKING
• NEWER APPLIANCES
• TURN-KEY MULTIFAMILY PROPERTY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $-562 ($-7k/yr) — negative. Per door: $-281/mo.
• To cash-flow at today's rent, offer at most $500k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $406k (32.3% below list).
• Recommended offer: $406k (32.3% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.2% in Cumberland Hill — 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 74/100 on livability (#11 in RI, #4,666 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Cumberland (suburban): math 40% / reading 52% proficiency, ranked #9 of 39 in RI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: John J. Mclaughlin Cumberland (math 37% / reading 42%, grade F, #46 of 167 statewide, top 30%, 424 students, 18% FRL); North Cumberland Middle (math 46% / reading 61%, grade C+, #4 of 57 statewide, top 5%, 635 students, 13% FRL); Cumberland High School (math 35% / reading 58%, grade D-, #15 of 58 statewide, top 26%, 1,446 students, 17% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents soft (-1.5%/yr); 148 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 41% of the median local income ($118k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k 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 137 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $46k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $396k; list at $599k implies a 51% 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, 66% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $405,800 (32.3% 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 137 days. Have you received any prior offers? Is the seller open to a 32% 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 1930 — 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. 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?
9. 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.
10. 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.
11. 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: 0.68% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.02%
• DSCR: 0.82
• GRM: 12.3

CMA / ARV

• ARV (median comp): $653,764
• List price: $599,000
• Delta: -8.38%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
68 70 Mount Pleasant Vw	0.13mi	5/2.0 (+1)	2,079 (0%)	15mo	$605,000	$291	72
34 36 Boyle Ave	0.12mi	4/3.0	1,830 (-12%)	9mo	$485,000	$265	67
5 Valley St	0.70mi	5/2.0 (+1)	1,812 (-13%)	2mo	$575,000	$317	35

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.2%
• Equity multiple: 0.14×
• Total profit: $-144,948
• Equity at exit: $89,313

10-year hold

• IRR: -35.2%
• Equity multiple: -0.31×
• Total profit: $-218,986
• Equity at exit: $51,791

Cash invested: $167,720 (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 02864

• Rents YoY: -1.5%
• Active inventory: 148
• Price-to-rent: 24.6×

Monthly cashflow live

• Estimated rent: $4,058 high
• Mortgage (P&I): −$3,141
• Tax from tax record: −$378 /mo · $4,530/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$852
• Net cashflow: $-562

Break-even live

Break-even rent $4,770

Max offer price $499,635

Occupancy floor —

Sensitivity live

Price	-10% $-223	-5% $-393	+0% $-562	+5% $-732	+10% $-902
Rent	-10% $-883	-5% $-723	+0% $-562	+5% $-402	+10% $-242
Rate	-1.0pp $-261	-0.5pp $-410	base $-562	+0.5pp $-718	+1.0pp $-876

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,058
Total (2 units)			$4,058

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Spring St Manville, RI	4.0	1.5	1456	$2,500	$1.72	17d	1	0.49mi
114-116 Summer St Manville, RI	3.0	1.5	1558	$2,500	$1.60	3d	1	0.58mi

Listing history 21 events

1. 2026-06-21
   days on market $599,000 Active 137 DOM
2. 2026-06-18
   days on market $599,000 Active 134 DOM
3. 2026-06-17
   days on market $599,000 Active 133 DOM
4. 2026-06-16
   days on market $599,000 Active 132 DOM
5. 2026-06-15
   days on market $599,000 Active 131 DOM
6. 2026-06-13
   days on market $599,000 Active 129 DOM
7. 2026-06-09
   days on market $599,000 Active 125 DOM
8. 2026-06-08
   days on market $599,000 Active 124 DOM
9. 2026-06-07
   days on market $599,000 Active 123 DOM
10. 2026-06-05
    days on market $599,000 Active 120 DOM
11. 2026-06-03
    days on market $599,000 Active 119 DOM
12. 2026-06-02
    days on market $599,000 Active 118 DOM
13. 2026-06-01
    days on market $599,000 Active 117 DOM
14. 2026-05-31
    days on market $599,000 Active 116 DOM
15. 2026-05-06
    price $625,000 912-char remark

    Show marketing remark (912 chars)

    * * PRICE DEDUCTION * * Newly renovated side-by-side duplex situated in desirable Cumberland Hill, set on over half an acre of land. The duplex includes newer appliances. Both units currently vacant ideal for either owner occupy or an investment. Unit 20 has a lead conformance certificate. This well-maintained townhouse style duplex offers 2 spacious bedrooms, 1 full bathroom and a half bathroom on each side along with ample storage throughout. Each unit features separate utilities, private basements and attic assess, providing convenience and efficiency for occupants. Laundry is thoughtfully located in the upstairs bathrooms, and the property offers abundant parking. There's an EV charger connected to unit 22. Ideally located with easy access to major routes and nearby local amenities. A fantastic opportunity to own a turn-key multifamily property don't miss out, schedule your showing today.

16. 2026-02-04
    listed $645,000 Active 912-char remark

    Show marketing remark (912 chars)

    * * PRICE DEDUCTION * * Newly renovated side-by-side duplex situated in desirable Cumberland Hill, set on over half an acre of land. The duplex includes newer appliances. Both units currently vacant ideal for either owner occupy or an investment. Unit 20 has a lead conformance certificate. This well-maintained townhouse style duplex offers 2 spacious bedrooms, 1 full bathroom and a half bathroom on each side along with ample storage throughout. Each unit features separate utilities, private basements and attic assess, providing convenience and efficiency for occupants. Laundry is thoughtfully located in the upstairs bathrooms, and the property offers abundant parking. There's an EV charger connected to unit 22. Ideally located with easy access to major routes and nearby local amenities. A fantastic opportunity to own a turn-key multifamily property don't miss out, schedule your showing today.

17. 2021-06-18
    soldstatus $396,000 Closed 490-char remark

    Show marketing remark (490 chars)

    Don't Miss Out On This Unique Opportunity To Own A Side By Side Duplex On Over Half An Acre Of Land! Each unit features 2 beds, one and a half baths, and spacious eat-in kitchens with plenty of storage space. The property offers separate utilities, a full basement, economical gas heat, updated electric, town water/sewer, ample parking and on-site laundry for each unit! Fantastic location within the Cumberland Hill school district, near major routes, commuter rails, and local amenities!

18. 2021-06-18
    soldstatus $396,000

    Show marketing remark (490 chars)

    Don't Miss Out On This Unique Opportunity To Own A Side By Side Duplex On Over Half An Acre Of Land! Each unit features 2 beds, one and a half baths, and spacious eat-in kitchens with plenty of storage space. The property offers separate utilities, a full basement, economical gas heat, updated electric, town water/sewer, ample parking and on-site laundry for each unit! Fantastic location within the Cumberland Hill school district, near major routes, commuter rails, and local amenities!

19. 2021-05-11
    historical Active Under Contract 490-char remark

    Show marketing remark (490 chars)

    Don't Miss Out On This Unique Opportunity To Own A Side By Side Duplex On Over Half An Acre Of Land! Each unit features 2 beds, one and a half baths, and spacious eat-in kitchens with plenty of storage space. The property offers separate utilities, a full basement, economical gas heat, updated electric, town water/sewer, ample parking and on-site laundry for each unit! Fantastic location within the Cumberland Hill school district, near major routes, commuter rails, and local amenities!

20. 2021-05-07
    listed $390,000 Active 490-char remark

    Show marketing remark (490 chars)

    Don't Miss Out On This Unique Opportunity To Own A Side By Side Duplex On Over Half An Acre Of Land! Each unit features 2 beds, one and a half baths, and spacious eat-in kitchens with plenty of storage space. The property offers separate utilities, a full basement, economical gas heat, updated electric, town water/sewer, ample parking and on-site laundry for each unit! Fantastic location within the Cumberland Hill school district, near major routes, commuter rails, and local amenities!

21. 1998-04-01
    soldstatus $75,000

ⓘ 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: $4,530 · $378/mo
• Projected year-2 tax: $7,147 · $596/mo
• Expected delta: +$2,617/yr (+$218/mo · 57.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $48,696
• − Mortgage interest: −$33,553
• − Property taxes: −$4,530
• − Insurance: −$2,995
• − Repairs & maintenance: −$3,896
• − Management: −$3,896
• − Depreciation: −$17,425
• Taxable loss: −$17,599
• Est. tax savings @ 24.0%: +$4,224
• After-tax cash flow: $-2,526/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: Cumberland
• NCES district ID: 4400270
• Math proficiency: 40% ▼ -13.00%
• Reading proficiency: 52% ▼ -10.00%
• Median HH income: $75,407
• Composite: 41.85/100
• National rank: #3382
• State rank: #9 of 39 in RI

Livability — Cumberland Hill

• Score: 74/100
• State rank: #11
• US rank: #4666

Category grades

Amenities F Commute F Cost of living C Crime A+ Employment A+ Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cumberland Hill, RI
• County: Providence County · 548,917 people
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 36,820
• Household income: $117,522
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 771.0

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: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 5% Asian 4% Black 3%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 11% Russian 10% Romanian 6%
• Foreign-born: 11% · Canada, Jamaica, China
• Languages at home: 83% English-only · Other Indo-European 7% Spanish 4% French/Haitian/Cajun 2%

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: ▼ -461.15%
• Current HPI: 313.0341
• Rent YoY: ▼ -1.48%
• 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

+733.3% since first listed

7 events — show timeline

• 2026-05-06 Price Changed $625,000 RIS
• 2026-02-04 Listed $645,000 RIS
• 2021-06-18 Sold (Public Records) $396,000 Public Records
• 2021-06-18 Sold (MLS) $396,000 RIS
• 2021-05-11 Contingent — RIS
• 2021-05-07 Listed $390,000 RIS
• 1998-04-01 Sold (Public Records) $75,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $4,530 · +2.7% YoY. Source: county tax records.