18 Standish Ave · Cranston, RI 02920

$575,000

6 bd · 3.0 ba · 3,200 sqft · MultiFamily public records · 76 Days on market

Built 1920 3,920 sqft lot $180/sqft · 46% above area Est $593k · at est. ↓ 12% since listing

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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 +25.9/30.0
• ARV discount +8.9/15.0
• DSCR +8.7/10.0
• 1% rule +6.3/10.0
• Livability +4.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

A Fantastic opportunity awaits you! Ideal, central location close to all amenities like shopping, restaurants and athletic complexes as well as easy highway access. Spacious 3 unit property with long terms tenants. Maintenance free Aluminum Siding as well as a 2 car Detached garage. 1st unit is ample and immaculately kept. It offers high ceilings, hardwood flooring, large living room and ample bedrooms. 2nd unit large size and layout is identical to the 1st with the same high ceilings! 3rd unit is cozy but offers 2 nice sized bedrooms. Washer/dryer hookups in basement. Separate electric utilities. Do not hesitate! To Be Sold as a package with 1296 Cranston St, Cranston, RI, 02920. MLS #1409216. Contact us for more information!

Key facts

• Hardwood flooring
• Washer dryer hookups
• High ceilings

Tags

• DETACHED GARAGE
• HIGH CEILINGS
• HARDWOOD FLOORING
• WASHER DRYER HOOKUPS
• SEPARATE ELECTRIC UTILITIES

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $471/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $575k).
• Recommended offer: $540k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.3% in Cranston — 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 87/100 on livability (#1 in RI, #323 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Cranston (suburban): math 16% / reading 35% proficiency, ranked #23 of 39 in RI (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.4%/yr); 127 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $6,525/mo this rent would consume 97% of the median local household income ($81k/yr) (locally 985% 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 $4k of loan paydown is wiped out by about $17k 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 76 days — a 6% lower offer ($540k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $540,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% 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 1920 — 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: 1.13% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 7.3

CMA / ARV

• ARV (median comp): $593,277
• List price: $575,000
• Delta: -3.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1303 Cranston St	0.04mi	5/3.0 (-1)	3,610 (+13%)	3mo	$650,000	$180	69
142 Chestnut Hill Ave	0.40mi	5/3.0 (-1)	3,165 (-1%)	14mo	$600,000	$190	63
92 Rhode Island St	0.55mi	6/2.0	3,072 (-4%)	5mo	$628,000	$204	59
39 Church St	0.42mi	5/2.0 (-1)	2,916 (-9%)	6mo	$569,000	$195	52

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 · 2.42% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.96×
• Total profit: $-7,028
• Equity at exit: $85,734

10-year hold

• IRR: 7.9%
• Equity multiple: 1.59×
• Total profit: $94,206
• Equity at exit: $49,715

Cash invested: $161,000 (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 02920

• Rents YoY: 2.4%
• Active inventory: 127
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $6,525 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$487 /mo · $5,845/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,370
• Net cashflow: $1,413

Break-even live

Break-even rent $4,737

Max offer price $575,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,738	-5% $1,575	+0% $1,413	+5% $1,250	+10% $1,087
Rent	-10% $897	-5% $1,155	+0% $1,413	+5% $1,670	+10% $1,928
Rate	-1.0pp $1,702	-0.5pp $1,559	base $1,413	+0.5pp $1,264	+1.0pp $1,112

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,525
Total (3 units)			$6,525

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Calef St Unit 16 Cranston, RI	5.0	3.0	3000	$3,500	$1.17	18d	1	0.33mi

Listing history 18 events

1. 2026-06-21
   days on market $575,000 Active 76 DOM
2. 2026-06-18
   days on market $575,000 Active 73 DOM
3. 2026-06-17
   days on market $575,000 Active 72 DOM
4. 2026-06-16
   days on market $575,000 Active 71 DOM
5. 2026-06-15
   days on market $575,000 Active 70 DOM
6. 2026-06-13
   days on market $575,000 Active 68 DOM
7. 2026-06-13
   days on market $575,000 Active 67 DOM
8. 2026-06-09
   days on market $575,000 Active 64 DOM
9. 2026-06-08
   days on market $575,000 Active 63 DOM
10. 2026-06-07
    days on market $575,000 Active 62 DOM
11. 2026-06-05
    days on market $575,000 Active 59 DOM
12. 2026-06-03
    days on market $575,000 Active 58 DOM
13. 2026-06-02
    days on market $575,000 Active 57 DOM
14. 2026-06-01
    days on market $575,000 Active 56 DOM
15. 2026-05-31
    days on market $575,000 Active 55 DOM
16. 2026-04-06
    listed $575,000 Active 738-char remark

    Show marketing remark (738 chars)

    A Fantastic opportunity awaits you! Ideal, central location close to all amenities like shopping, restaurants and athletic complexes as well as easy highway access. Spacious 3 unit property with long terms tenants. Maintenance free Aluminum Siding as well as a 2 car Detached garage. 1st unit is ample and immaculately kept. It offers high ceilings, hardwood flooring, large living room and ample bedrooms. 2nd unit large size and layout is identical to the 1st with the same high ceilings! 3rd unit is cozy but offers 2 nice sized bedrooms. Washer/dryer hookups in basement. Separate electric utilities. Do not hesitate! To Be Sold as a package with 1296 Cranston St, Cranston, RI, 02920. MLS #1409216. Contact us for more information!

17. 2026-01-07
    historical
18. 2025-07-08
    listed $649,900 Active

ⓘ 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: $5,845 · $487/mo
• Projected year-2 tax: $7,609 · $634/mo
• Expected delta: +$1,764/yr (+$147/mo · 30.2%)

ⓘ 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 71% 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: $78,300
• − Mortgage interest: −$32,209
• − Property taxes: −$5,845
• − Insurance: −$2,875
• − Repairs & maintenance: −$6,264
• − Management: −$6,264
• − Depreciation: −$16,727
• Taxable income: $8,116
• Est. tax owed @ 24.0%: −$1,948
• After-tax cash flow: $15,005/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: Cranston
• NCES district ID: 4400240
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $60,070
• Composite: 23.36/100
• National rank: #7910
• State rank: #23 of 39 in RI

Livability — Cranston

• Score: 87/100
• State rank: #1
• US rank: #323

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cranston, RI
• County: Providence County · 548,917 people
• City population: 72,803
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 37,155
• Household income: $80,717
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 985.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Two or more races 8% Asian 7% Black 7%
• Hispanic origin (detail): Puerto Rican 4% Dominican 6%
• Common ancestry: Lithuanian 6% Russian 5% Slovak 2%
• Foreign-born: 16% · Canada, China
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 5% 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: ▼ -449.22%
• Current HPI: 334.2336
• Rent YoY: ▲ 2.42%
• 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

-11.5% since first listed

3 events — show timeline

• 2026-04-06 Listed $575,000 RIS
• 2026-01-07 Listing Removed — RIS
• 2025-07-08 Listed $649,900 RIS

Property tax history

+5.1%/yr

Latest (2025): $5,845 · +2.0% YoY. Source: county tax records.