1816 Old Louisquisset Pike · Cumberland Hill, RI 02865

$489,999

2 bd · 1.5 ba · 1,080 sqft · SingleFamily public records · 4 Days on market

Built 1950 1.00 ac lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.4/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION! ACCESSIBILITY! PRIVACY OFFERED IN THIS TWO BED ONE BATH CALIFORNIA CONTEMPORY STYLE RANCH, WITH PARK LIKE GROUNDS ON OVER ONE ACRE! $259,000

Key facts

• Spacious 1 acre lot
• Finished basement
• Expansive backyard

Tags

• SPACIOUS 1 ACRE LOT
• UPDATED BATHROOM
• BRIGHT SUNROOM
• FINISHED BASEMENT
• EXPANSIVE BACKYARD

Property features AI

Finance

• HOA & community: Easy access to highway, schools, public transportation, restaurants and shopping

Exterior

• Parking: Attached garage (1 covered/garage space); Total of 5 parking spaces
• Utilities: Sewer connected; Public water connected
• Home design: Single-story house; Clapboard exterior; Concrete perimeter foundation
• Construction: Clapboard construction; Concrete perimeter foundation
• Exterior features: Paved driveway

Interior

• Kitchen: Oil water heater (appliance listed)
• Bedrooms: Total of 4 rooms
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (oil); Central air conditioning
• Interior features: Full, finished basement with interior entry; Masonry fireplaces (2)
• Laundry & utility: 100 amp electrical service

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $490k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (62.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (60.5% below list).
• Recommended offer: $185k (62.3% below list) — sets the bar for cash-flow.
• Cap rate 2.1% vs local median 3.3% in Cumberland Hill — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Lincoln (suburban): math 38% / reading 48% proficiency, ranked #13 of 39 in RI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 93 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y 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 $258k; list at $490k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,792 (62.3% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.39% ✗
• Cap rate: 2.06%
• Cash-on-cash: -15.11%
• DSCR: 0.33
• GRM: 21.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -45.4%
• Equity multiple: -0.38×
• Total profit: $-189,491
• Equity at exit: $73,060

10-year hold

• IRR: -83.5%
• Equity multiple: -1.24×
• Total profit: $-306,905
• Equity at exit: $42,366

Cash invested: $137,200 (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 02865

• Active inventory: 93
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $1,934 medium
• Mortgage (P&I): −$2,570
• Tax from tax record: −$482 /mo · $5,784/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $-1,728

Break-even live

Break-even rent $4,121

Max offer price $184,792

Occupancy floor —

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-05
   status $489,999 Pending 4 DOM
2. 2026-06-03
   days on market $489,999 Active 4 DOM
3. 2026-06-02
   days on market $489,999 Active 3 DOM
4. 2026-06-01
   days on market $489,999 Active 2 DOM
5. 2026-05-31
   remarks 699-char remark
6. 2026-05-31
   listed $489,999 Active 1 DOM

ⓘ 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: $5,784 · $482/mo
• Projected year-2 tax: $6,885 · $574/mo
• Expected delta: +$1,101/yr (+$92/mo · 19.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $23,211
• − Mortgage interest: −$27,448
• − Property taxes: −$5,784
• − Insurance: −$2,450
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$14,255
• Taxable loss: −$30,439
• Est. tax savings @ 24.0%: +$7,305
• After-tax cash flow: $-13,427/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: Lincoln
• NCES district ID: 4400570
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $69,500
• Composite: 38.81/100
• National rank: #4115
• State rank: #13 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

• Population (ZIP): 18,033

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 (82%)
• Race & ethnicity: White 82% Two or more races 9% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 11% Russian 7% Romanian 4%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 84% English-only · Other Indo-European 7% Spanish 3% Chinese 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: ▼ -332.01%
• Current HPI: 325.7543
• Rent YoY: —
• Metro: —
• 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

+238.2% since first listed

15 events — show timeline

• 2026-05-30 Listed $489,999 RIS
• 2019-09-20 Price Changed $249,000 RIS
• 2015-08-27 Sold (MLS) $257,500 RIS
• 2015-07-20 Pending — RIS
• 2015-07-08 Listed $259,000 RIS
• 2003-05-26 Sold (MLS) $240,000 RIS
• 2003-05-16 Sold (Public Records) $240,000 Public Records
• 2003-03-31 Listing Removed — RIS
• 2002-10-28 Listed $259,000 RIS
• 2002-08-29 Listing Removed — RIS
• 2002-06-21 Listed $229,000 RIS
• 2000-04-17 Sold (Public Records) $146,500 Public Records
• 2000-04-14 Sold (MLS) $146,500 RIS
• 2000-02-21 Listing Removed — RIS
• 2000-02-09 Listed $144,900 RIS

Property tax history

+1.5%/yr

Latest (2025): $5,784 · -3.5% YoY. Source: county tax records.