274 Harris Ave · Woonsocket, RI 02895

$715,000

7 bd · 5.0 ba · 7,055 sqft · MultiFamily public records · 22 Days on market

Built 1869 0.37 ac lot Est $494k · 45% over

---

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 +26.0/30.0
• DSCR +8.8/10.0
• 1% rule +6.2/10.0
• Rent growth +4.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This is the perfect opportunity for an owner occupant or investor looking to grow their portfolio and make passive income! This 4-family is located on a corner lot and is a money maker!! This property makes over $68K a year in rental income!!! This Victorian gem has it all! Not only is this property huge, but the characteristics and architecture will blow you away. This property is zoned for 4 units and offers two combining units to make a 7000 sq. ft. townhouse style! This property also offers a large, detached garage for extra income. New heating system and fire box up to date. Call for a private showing today.

Key facts

• Original features
• 4 unit victorian
• Beautiful woodwork

Tags

• 4 UNIT VICTORIAN
• ORIGINAL FEATURES
• TIMELESS ARCHITECTURAL DETAILS
• BEAUTIFUL WOODWORK
• PERIOD ACCENTS
• GENEROUS LIVING SPACES

Property features AI

Finance

• Financial info: Owner pays hot water
• HOA & community: Community features: highway access, near hospital, near schools, public transportation, recreation area, nearby restaurants, sidewalks

Exterior

• Parking: Detached garage; 2 covered garage spaces; 6 total parking spaces
• Utilities: Public water; Public sewer (connected); Electric: 200+ amp service with circuit breakers
• Home design: Multi-unit building (4 units) in a single building; 3 stories
• Construction: Vinyl siding and plaster exterior; Concrete perimeter foundation
• Exterior features: Front porch; Corner lot; Paved lot

Interior

• Kitchen: Dishwasher; Oven; Range; Range hood; Microwave; Refrigerator
• Bedrooms: Four 1-bedroom units; One 2-bedroom unit; One 3-bedroom unit; One 4-bedroom unit
• Flooring: Hardwood; Carpet; Ceramic tile; Laminate
• Bathrooms: 5 full bathrooms; 1 half bathroom; Units include full bathrooms as noted (each unit has at least one full bath)
• Heating & cooling: Heating: Gas, Oil, and Steam
• Interior features: Skylights; Interior steps; Tub with shower; Masonry fireplaces (2)
• Laundry & utility: Washer and dryer; Common area laundry; Common water heater and gas water heater

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.4-bath units multifamily listed at $715k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $715k).
• Recommended offer: $704k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.3% 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); 163 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $7,983/mo this rent would consume 157% 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 $5k of loan paydown is wiped out by about $21k 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 + 8.0% rent growth), your $200k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $520k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1869 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% 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 $704,275 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1869 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.70%
• DSCR: 1.48
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $493,850
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 Cato St	0.49mi	7/2.5	6,023 (-15%)	22mo	$420,000	$70	24

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: 4.9%
• Equity multiple: 1.20×
• Total profit: $39,906
• Equity at exit: $106,609

10-year hold

• IRR: 18.3%
• Equity multiple: 2.86×
• Total profit: $372,634
• Equity at exit: $61,820

Cash invested: $200,200 (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: 163
• Price-to-rent: 29.9×

Monthly cashflow live

• Estimated rent: $7,983 high
• Mortgage (P&I): −$3,750
• Tax from tax record: −$474 /mo · $5,684/yr
• Insurance: −$298
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,676
• Net cashflow: $1,785

Break-even live

Break-even rent $5,723

Max offer price $715,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.4	$7,984
Total (4 units)			$7,983

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: $178,750
• Closing costs: $21,450
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $715,000 Active 22 DOM
2. 2026-06-17
   days on market $715,000 Active 21 DOM
3. 2026-06-16
   days on market $715,000 Active 20 DOM
4. 2026-06-15
   days on market $715,000 Active 19 DOM
5. 2026-06-13
   days on market $715,000 Active 17 DOM
6. 2026-06-13
   days on market $715,000 Active 16 DOM
7. 2026-06-09
   days on market $715,000 Active 13 DOM
8. 2026-06-08
   days on market $715,000 Active 12 DOM
9. 2026-06-07
   days on market $715,000 Active 11 DOM
10. 2026-06-05
    days on market $715,000 Active 8 DOM
11. 2026-06-03
    days on market $715,000 Active 7 DOM
12. 2026-06-02
    days on market $715,000 Active 6 DOM
13. 2026-06-01
    days on market $715,000 Active 5 DOM
14. 2026-05-31
    days on market $715,000 Active 4 DOM
15. 2026-05-27
    listed $715,000 Active
16. 2023-02-27
    soldstatus $520,000 Closed 620-char remark

    Show marketing remark (620 chars)

    This is the perfect opportunity for an owner occupant or investor looking to grow their portfolio and make passive income! This 4-family is located on a corner lot and is a money maker!! This property makes over $68K a year in rental income!!! This Victorian gem has it all! Not only is this property huge, but the characteristics and architecture will blow you away. This property is zoned for 4 units and offers two combining units to make a 7000 sq. ft. townhouse style! This property also offers a large, detached garage for extra income. New heating system and fire box up to date. Call for a private showing today.

17. 2023-02-24
    soldstatus $520,000
18. 2023-02-10
    status Pending 620-char remark

    Show marketing remark (620 chars)

    This is the perfect opportunity for an owner occupant or investor looking to grow their portfolio and make passive income! This 4-family is located on a corner lot and is a money maker!! This property makes over $68K a year in rental income!!! This Victorian gem has it all! Not only is this property huge, but the characteristics and architecture will blow you away. This property is zoned for 4 units and offers two combining units to make a 7000 sq. ft. townhouse style! This property also offers a large, detached garage for extra income. New heating system and fire box up to date. Call for a private showing today.

19. 2023-01-30
    price $599,900 620-char remark

    Show marketing remark (620 chars)

    This is the perfect opportunity for an owner occupant or investor looking to grow their portfolio and make passive income! This 4-family is located on a corner lot and is a money maker!! This property makes over $68K a year in rental income!!! This Victorian gem has it all! Not only is this property huge, but the characteristics and architecture will blow you away. This property is zoned for 4 units and offers two combining units to make a 7000 sq. ft. townhouse style! This property also offers a large, detached garage for extra income. New heating system and fire box up to date. Call for a private showing today.

20. 2023-01-17
    price $649,900 620-char remark

    Show marketing remark (620 chars)

    This is the perfect opportunity for an owner occupant or investor looking to grow their portfolio and make passive income! This 4-family is located on a corner lot and is a money maker!! This property makes over $68K a year in rental income!!! This Victorian gem has it all! Not only is this property huge, but the characteristics and architecture will blow you away. This property is zoned for 4 units and offers two combining units to make a 7000 sq. ft. townhouse style! This property also offers a large, detached garage for extra income. New heating system and fire box up to date. Call for a private showing today.

21. 2023-01-06
    listed $680,000 Active 620-char remark

    Show marketing remark (620 chars)

    This is the perfect opportunity for an owner occupant or investor looking to grow their portfolio and make passive income! This 4-family is located on a corner lot and is a money maker!! This property makes over $68K a year in rental income!!! This Victorian gem has it all! Not only is this property huge, but the characteristics and architecture will blow you away. This property is zoned for 4 units and offers two combining units to make a 7000 sq. ft. townhouse style! This property also offers a large, detached garage for extra income. New heating system and fire box up to date. Call for a private showing today.

22. 2022-12-08
    historical
23. 2022-08-26
    price $680,000
24. 2022-07-15
    listed $700,000 Active
25. 2016-06-23
    soldstatus $280,000 Sold
26. 2016-06-23
    soldstatus $280,000
27. 2016-03-15
    status Pending
28. 2016-03-15
    status Pending
29. 2016-02-16
    listed $280,000 Active - New
30. 2016-02-15
    listed $280,000 Active - New
31. 1989-05-11
    soldstatus $292,000

ⓘ 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: $5,684 · $474/mo
• Projected year-2 tax: $8,669 · $722/mo
• Expected delta: +$2,985/yr (+$249/mo · 52.5%)

ⓘ 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 · 15 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: $95,796
• − Mortgage interest: −$40,051
• − Property taxes: −$5,684
• − Insurance: −$3,575
• − Repairs & maintenance: −$7,664
• − Management: −$7,664
• − Depreciation: −$20,800
• Taxable income: $10,359
• Est. tax owed @ 24.0%: −$2,486
• After-tax cash flow: $18,939/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

+144.9% since first listed

17 events — show timeline

• 2026-05-27 Listed $715,000 RIS
• 2023-02-27 Sold (MLS) $520,000 RIS
• 2023-02-24 Sold (Public Records) $520,000 Public Records
• 2023-02-10 Pending — RIS
• 2023-01-30 Price Changed $599,900 RIS
• 2023-01-17 Price Changed $649,900 RIS
• 2023-01-06 Listed $680,000 RIS
• 2022-12-08 Listing Removed — RIS
• 2022-08-26 Price Changed $680,000 RIS
• 2022-07-15 Listed $700,000 RIS
• 2016-06-23 Sold (Public Records) $280,000 Public Records
• 2016-06-23 Sold (MLS) $280,000 RIS
• 2016-03-15 Pending — RIS
• 2016-03-15 Pending — RIS
• 2016-02-16 Listed $280,000 RIS
• 2016-02-15 Listed $280,000 RIS
• 1989-05-11 Sold (Public Records) $292,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $5,684 · -40.6% YoY. Source: county tax records.