871 Douglas Ave · Providence, RI 02908

$189,000

3 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 134 Days on market

Built 1920 5,227 sqft lot $182/sqft · 52% below area ↓ 24% since listing

---

Why this score? — see what drove the B- 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

Key facts

• Blank canvas
• Single-family home
• Off-street parking

Tags

• SINGLE-FAMILY HOME
• OFF-STREET PARKING
• BLANK CANVAS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.0% 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 fast (+5.5%/yr); 162 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 42% of the median local income ($73k/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 $1k of loan paydown is wiped out by about $6k 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 + 5.5% rent growth), your $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% 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 $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.09%
• DSCR: 1.63
• GRM: 6.2

CMA / ARV

• ARV (median comp): $390,895
• List price: $189,000
• Delta: -51.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Washington St	0.73mi	3/1.0	960 (-7%)	4mo	$402,000	$419	50
4 Gale Ct	0.68mi	3/1.5	1,085 (+5%)	23mo	$369,000	$340	39
50 Cushing St	0.72mi	3/1.0	1,184 (+14%)	8mo	$360,000	$304	36

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 · 5.46% rent growth · sell at horizon

5-year hold

• IRR: 7.3%
• Equity multiple: 1.29×
• Total profit: $15,526
• Equity at exit: $28,181

10-year hold

• IRR: 18.7%
• Equity multiple: 2.75×
• Total profit: $92,801
• Equity at exit: $16,341

Cash invested: $52,920 (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 02908

• Home prices YoY: -27.1%
• Rents YoY: 5.5%
• Active inventory: 162
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,552 high
• Mortgage (P&I): −$991
• Tax from tax record: −$324 /mo · $3,894/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $622

Break-even live

Break-even rent $1,765

Max offer price $189,000

Occupancy floor 71%

Sensitivity live

Price	-10% $729	-5% $675	+0% $622	+5% $568	+10% $515
Rent	-10% $420	-5% $521	+0% $622	+5% $722	+10% $823
Rate	-1.0pp $717	-0.5pp $670	base $622	+0.5pp $573	+1.0pp $523

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Concannon St Providence, RI	3.0	2.0	1484	$2,700	$1.82	24d	1	0.11mi
788 Academy Ave Unit 1 Providence, RI	2.0	1.0	1100	$2,400	$2.18	24d	1	0.62mi
788 Academy Ave Unit 2 Providence, RI	3.0	1.0	1100	$2,500	$2.27	24d	1	0.62mi
729 Academy Ave Providence, RI	3.0	1.0	1261	$2,395	$1.90	18d	1	0.68mi
270 Langdon St Unit 1 Providence, RI	3.0	1.0	1189	$2,300	$1.93	12d	1	0.75mi
191 Russo St Unit 1 Providence, RI	4.0	2.0	1500	$3,000	$2.00	2d	1	0.80mi
14 Eaton St Providence, RI	3.0	1.0	1350	$2,550	$1.89	5d	1	0.87mi
1189 Smith St Providence, RI	3.0	1.5	1112	$2,400	$2.16	24d	1	0.88mi
10 Josephine St #310 North Providence, RI	2.0	1.0	712	$2,000	$2.81	3d	1	0.88mi
10 Josephine St North Providence, RI	2.0	1.0	712	$1,900	$2.67	44d	2	0.88mi
10 Josephine St North Providence, RI	2.0	1.0	712	$1,975	$2.77	4d	2	0.88mi
38 Tyndall Ave Providence, RI	4.0	2.0	1500	$3,500	$2.33	20d	1	0.92mi
44 Hall St Providence, RI	2.0	2.0	800	$2,450	$3.06	24d	1	0.97mi
44 Hall St Unit 2 Providence, RI	3.0	2.0	1200	$2,850	$2.38	24d	1	0.97mi
124 Jane St Unit B North Providence, RI	2.0	1.0	900	$1,750	$1.94	4d	1	1.02mi
250 Smithfield Rd North Providence, RI	1.0–2.0	1.0	630	$2,099	$3.33	15d	5	1.17mi
1 Talbot St Apt 10 North Providence, RI	2.0	1.0	855	$1,850	$2.16	44d	1	1.22mi
162 Urban Ave #3 North Providence, RI	3.0	1.0	900	$1,850	$2.06	44d	1	1.22mi
20 Marblehead Ave Unit I North Providence, RI	2.0	2.0	940	$2,400	$2.55	44d	1	1.25mi
20 Marblehead Ave Unit I North Providence, RI	2.0	2.0	940	$2,400	$2.55	5d	1	1.25mi
1 Santini St Unit J North Providence, RI	2.0	1.5	1242	$3,000	$2.42	2d	1	1.36mi
26 Beach St North Providence, RI	3.0	1.0	1366	$3,000	$2.20	2d	1	1.43mi
1822 Mineral Spring Ave North Providence, RI	2.0	1.0	1000	$2,200	$2.20	12d	1	1.45mi

Listing history 20 events

1. 2026-06-18
   status $189,000 Pending 134 DOM
2. 2026-06-17
   days on market $189,000 Active 134 DOM
3. 2026-06-16
   days on market $189,000 Active 133 DOM
4. 2026-06-15
   days on market $189,000 Active 132 DOM
5. 2026-06-13
   days on market $189,000 Active 130 DOM
6. 2026-06-09
   days on market $189,000 Active 126 DOM
7. 2026-06-08
   days on market $189,000 Active 125 DOM
8. 2026-06-07
   days on market $189,000 Active 124 DOM
9. 2026-06-05
   days on market $189,000 Active 121 DOM
10. 2026-06-03
    days on market $189,000 Active 120 DOM
11. 2026-06-02
    days on market $189,000 Active 119 DOM
12. 2026-06-01
    days on market $189,000 Active 118 DOM
13. 2026-05-31
    days on market $189,000 Active 117 DOM
14. 2026-05-07
    price $189,000 969-char remark

    Show marketing remark (969 chars)

    Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

15. 2026-04-07
    price $199,000 969-char remark

    Show marketing remark (969 chars)

    Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

16. 2026-03-25
    price $199,900 969-char remark

    Show marketing remark (969 chars)

    Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

17. 2026-03-18
    price $209,000 969-char remark

    Show marketing remark (969 chars)

    Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

18. 2026-03-03
    price $219,900 969-char remark

    Show marketing remark (969 chars)

    Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

19. 2026-02-25
    price $225,000 969-char remark

    Show marketing remark (969 chars)

    Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

20. 2026-02-03
    listed $250,000 Active 969-char remark

    Show marketing remark (969 chars)

    Excellent opportunity to own a single-family home in a desirable Providence location, offering outstanding potential for investors, contractors, or buyers ready to customize a home to their exact vision. Conveniently situated near major highways, public transportation, shopping, dining, and everyday amenities, this property provides easy access to everything the city has to offer. Off-street parking adds valuable convenience, especially in an urban setting. The home is in need of rehab, making it a perfect blank canvas for renovations and value-add improvements. Whether you're looking to create your dream residence or a smart investment property, the possibilities are endless. With thoughtful updates and creative design, this home can truly be transformed into something special. Don't miss out on this incredible chance to reimagine, renovate, and bring new life to a well-located Providence property. Execute your vision and make this property come to life.

ⓘ 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: $3,894 · $324/mo
• Projected year-2 tax: $3,894 · $324/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $30,622
• − Mortgage interest: −$10,587
• − Property taxes: −$3,894
• − Insurance: −$945
• − Repairs & maintenance: −$2,450
• − Management: −$2,450
• − Depreciation: −$5,498
• Taxable income: $4,799
• Est. tax owed @ 24.0%: −$1,152
• After-tax cash flow: $6,307/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): 39,500
• Household income: $73,081
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1561.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 33% Two or more races 22% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 16%
• Common ancestry: Swiss 4% Hispanic 3% Russian 3%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 53% English-only · Spanish 36% French/Haitian/Cajun 4% Other Indo-European 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: ▼ -151.12%
• Current HPI: 407.0502
• Rent YoY: ▲ 5.46%
• 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

-24.4% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $189,000 RIS
• 2026-04-07 Price Changed $199,000 RIS
• 2026-03-25 Price Changed $199,900 RIS
• 2026-03-18 Price Changed $209,000 RIS
• 2026-03-03 Price Changed $219,900 RIS
• 2026-02-25 Price Changed $225,000 RIS
• 2026-02-03 Listed $250,000 RIS

Property tax history

+0.3%/yr

Latest (2025): $3,894 · +15.7% YoY. Source: county tax records.