407-409 Broad St · Cumberland, RI 02864

$795,000

5 bd · 5.0 ba · 3,828 sqft · MultiFamily public records · 99 Days on market

Built 1900 5,009 sqft lot $208/sqft · 14% above area Est $696k · 14% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +1.1/15.0
• Appreciation +0.0/10.0

Multi-family units

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

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

Welcome to this Spacious 5-unit multifamily located at 407–409 Broad Street, Cumberland, Rhode Island, offering excellent rental income potential. This property is a great investment opportunity with strong cash-flow possibilities. Conveniently located near schools, public transportation, and shopping centers, making it attractive for tenants. Don’t miss the opportunity to own a multifamily in a desirable Cumberland location with great upside potential. ready for a new owner

Key facts

• Near schools
• Shopping centers
• Strong cash-flow

Tags

• RENTAL INCOME POTENTIAL
• INVESTMENT OPPORTUNITY
• STRONG CASH-FLOW
• NEAR SCHOOLS
• PUBLIC TRANSPORTATION
• SHOPPING CENTERS

What this means for you Summary

Snapshot

• This is a 5 × 6-bed/5.0-bath units multifamily listed at $795k.

Deal economics

• At list price, monthly cash flow is $6k ($68k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $795k).
• Recommended offer: $723k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: Rents soft (-1.5%/yr); 141 active listings in the ZIP; high-income renter base; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $13,524/mo this rent would consume 138% of the median local household income ($118k/yr) (locally 771% 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 $24k 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 + 0.0% rent growth), your $223k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($723k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $352k; list at $795k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $723,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.70% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.33%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $696,048
• List price: $795,000
• Delta: 14.22%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 High St	0.23mi	5/2.5	3,255 (-15%)	7mo	$549,000	$169	48
125 Londsdale Main St	0.51mi	6/3.5 (+1)	3,888 (+2%)	19mo	$510,000	$131	46

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: 21.7%
• Equity multiple: 1.85×
• Total profit: $189,868
• Equity at exit: $118,537

10-year hold

• IRR: 27.8%
• Equity multiple: 3.13×
• Total profit: $473,388
• Equity at exit: $68,737

Cash invested: $222,600 (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: 141
• Price-to-rent: 24.5×

Monthly cashflow live

• Estimated rent: $13,524 medium
• Mortgage (P&I): −$4,169
• Tax from tax record: −$557 /mo · $6,679/yr
• Insurance: −$331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,840
• Net cashflow: $5,627

Break-even live

Break-even rent $6,401

Max offer price $795,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 5× units	6	5	$13,525
Total (5 units)			$13,524

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $795,000 Active 99 DOM
2. 2026-06-17
   days on market $795,000 Active 98 DOM
3. 2026-06-16
   days on market $795,000 Active 97 DOM
4. 2026-06-15
   days on market $795,000 Active 96 DOM
5. 2026-06-13
   days on market $795,000 Active 94 DOM
6. 2026-06-09
   days on market $795,000 Active 90 DOM
7. 2026-06-08
   days on market $795,000 Active 89 DOM
8. 2026-06-07
   days on market $795,000 Active 88 DOM
9. 2026-06-05
   days on market $795,000 Active 85 DOM
10. 2026-06-03
    days on market $795,000 Active 84 DOM
11. 2026-06-02
    days on market $795,000 Active 83 DOM
12. 2026-06-01
    days on market $795,000 Active 82 DOM
13. 2026-05-31
    days on market $795,000 Active 81 DOM
14. 2026-03-11
    listed $795,000 New 491-char remark

    Show marketing remark (491 chars)

    Welcome to this Spacious 5-unit multifamily located at 407–409 Broad Street, Cumberland, Rhode Island, offering excellent rental income potential. This property is a great investment opportunity with strong cash-flow possibilities. Conveniently located near schools, public transportation, and shopping centers, making it attractive for tenants. Don’t miss the opportunity to own a multifamily in a desirable Cumberland location with great upside potential. ready for a new owner

15. 2021-06-17
    soldstatus $352,000
16. 2020-12-23
    soldstatus $250,000

ⓘ 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: $6,679 · $557/mo
• Projected year-2 tax: $9,819 · $818/mo
• Expected delta: +$3,140/yr (+$262/mo · 47.0%)

ⓘ 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 69% 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: $162,288
• − Mortgage interest: −$44,532
• − Property taxes: −$6,679
• − Insurance: −$3,975
• − Repairs & maintenance: −$12,983
• − Management: −$12,983
• − Depreciation: −$23,127
• Taxable income: $58,008
• Est. tax owed @ 24.0%: −$13,922
• After-tax cash flow: $53,603/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

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Valley Falls, RI
• County: Providence County · 548,917 people
• City population: 36,820
• 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

+218.0% since first listed

3 events — show timeline

• 2026-03-11 Listed $795,000 MLS PIN
• 2021-06-17 Sold (Public Records) $352,000 Public Records
• 2020-12-23 Sold (Public Records) $250,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $6,679 · +2.7% YoY. Source: county tax records.