31 Denver Ave · Cranston, RI 02905

$260,000

3 bd · 2.0 ba · 1,222 sqft · SingleFamily public records · 1 Days on market

Built 1914 4,906 sqft lot Est $417k · 38% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.3/30.0
• Livability +4.4/5.0
• DSCR +4.3/10.0
• 1% rule +4.1/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

SOLD BEFORE PRINT

Key facts

• 4,906 sq ft lot
• Built 1914

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $46 ($557/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (9.3% below list).
• Recommended offer: $236k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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 (+3.5%/yr); 80 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 45% of the median local income ($63k/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 $2k of loan paydown is wiped out by about $8k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,904 (9.3% below list)

Questions for the listing agent

1. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.91% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $416,702
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Denver Ave	0.02mi	3/1.5	1,214 (-1%)	10mo	$390,000	$321	88
68 Cliffdale Ave	0.02mi	3/1.5	1,277 (+4%)	6mo	$430,000	$337	84
78 Villa Ave	0.30mi	3/2.0	1,200 (-2%)	2mo	$408,737	$341	81
28 Sylvan Ave	0.19mi	3/1.0	1,274 (+4%)	4mo	$390,000	$306	77
94 Holmes Rd	0.52mi	3/2.0	1,247 (+2%)	2mo	$438,000	$351	71
23 Robert Cir	0.32mi	3/1.0	1,276 (+4%)	11mo	$452,000	$354	65
99 Dryden Blvd	0.63mi	3/1.0	1,256 (+3%)	0mo	$445,000	$354	62
6 Tennyson Rd	0.59mi	3/2.0	1,116 (-9%)	1mo	$431,000	$386	57
170 Holmes Rd	0.65mi	3/2.0	1,300 (+6%)	4mo	$450,000	$346	56
41 Aborn Ave	0.69mi	3/1.0	1,232 (+1%)	11mo	$405,000	$329	53
16 Pasadena Ct	0.74mi	3/1.0	1,248 (+2%)	7mo	$399,000	$320	52
140 Carman St	0.68mi	2/2.0 (-1)	1,372 (+12%)	9mo	$399,025	$291	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 · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-38,053
• Equity at exit: $38,767

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-24,690
• Equity at exit: $22,480

Cash invested: $72,800 (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 02905

• Rents YoY: 3.5%
• Active inventory: 80
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$345 /mo · $4,145/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $46

Break-even live

Break-even rent $2,300

Max offer price $260,000

Occupancy floor 93%

Sensitivity live

Price	-10% $194	-5% $120	+0% $46	+5% $-27	+10% $-101
Rent	-10% $-140	-5% $-47	+0% $46	+5% $140	+10% $233
Rate	-1.0pp $177	-0.5pp $113	base $46	+0.5pp $-21	+1.0pp $-89

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Ingleside Ave Unit 2 Cranston, RI	3.0	1.0	1160	$2,300	$1.98	45d	1	0.18mi
63 Park Ave Unit 2 Cranston, RI	3.0	1.0	1320	$2,400	$1.82	3d	1	0.40mi
80 Massasoit Ave Unit 2 Cranston, RI	2.0	1.0	1089	$2,199	$2.02	5d	1	0.78mi
200 Post Rd Warwick, RI	1.0–2.0	1.0–1.5	1016	$2,500	$2.46	13d	2	0.86mi
200 Post Rd #416 Warwick, RI	2.0	1.0	932	$2,500	$2.68	3d	1	0.86mi
1229 Narragansett Blvd Unit 1 Cranston, RI	2.0	1.0	1154	$2,400	$2.08	45d	1	0.90mi
86 1st Ave Unit 1 Cranston, RI	2.0	1.0	921	$2,099	$2.28	13d	1	0.96mi
126 Washington St Unit 1 Warwick, RI	2.0	1.0	840	$2,000	$2.38	18d	1	1.00mi
183 Narragansett St Cranston, RI	2.0	1.0	1225	$2,650	$2.16	25d	1	1.06mi
135 Park View Ave Warwick, RI	2.0	1.0	912	$2,500	$2.74	3d	1	1.18mi
151 Woodbine St Cranston, RI	2.0	1.0	900	$2,195	$2.44	4d	1	1.20mi
98 Magnolia St Cranston, RI	2.0	1.0	900	$1,900	$2.11	25d	1	1.24mi

Listing history 2 events

1. 2026-04-09
   status Pending
2. 2026-04-09
   listed $260,000 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: $4,145 · $345/mo
• Projected year-2 tax: $4,192 · $349/mo
• Expected delta: +$46/yr (+$4/mo · 1.1%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $28,308
• − Mortgage interest: −$14,564
• − Property taxes: −$4,145
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,265
• − Management: −$2,265
• − Depreciation: −$7,564
• Taxable loss: −$3,794
• Est. tax savings @ 24.0%: +$910
• After-tax cash flow: $1,468/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): 25,012
• Household income: $62,908
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 1220.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 41% White 38% Black 15% Two or more races 15% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 30%
• Common ancestry: Russian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 30% · Canada, China
• Languages at home: 57% English-only · Spanish 34% Other Indo-European 4% French/Haitian/Cajun 1%

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: ▼ -396.84%
• Current HPI: 387.2525
• Rent YoY: ▲ 3.45%
• 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

2 events — show timeline

• 2026-04-09 Pending — RIS
• 2026-04-09 Listed $260,000 RIS

Property tax history

+1.9%/yr

Latest (2025): $4,145 · +2.0% YoY. Source: county tax records.