367 369 Hawkins St · Providence, RI 02904

$469,500

4 bd · 2.0 ba · 1,904 sqft · MultiFamily public records · 36 Days on market

Built 1989 3,920 sqft lot

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

367 Hawkins Street a well-located home in Providence's North End. Conveniently located near RI-146 and I-95, making it a great location for commuters. Set in the heart of the Charles neighborhood, this property features 2 units, with 1 bath and 2 bedrooms. Each unit has a functional layout with bright living spaces, hardwood floors, and open concept living spaces. This property features a 5 year old roof, young heating and hot water systems. Enjoy easy access to local shops, Hopkins Square Park, local dining, highways, with quick access to the East Side and downtown Providence, making everyday living and commuting a breeze. Whether you're a homeowner or investor, this is a solid opportunity

Key facts

• 5 year old roof
• Bright living spaces
• Well-located home

Tags

• WELL-LOCATED HOME
• FUNCTIONAL LAYOUT
• BRIGHT LIVING SPACES
• HARDWOOD FLOORS
• OPEN CONCEPT LIVING SPACES
• 5 YEAR OLD ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $470k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/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 $417k (11.2% below list).
• Recommended offer: $417k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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-.
• 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.
• Zoned schools: George J. West El. School (math 7% / reading 13%, grade F, #148 of 167 statewide, top 90%, 601 students, 84% FRL); Nathanael Greene Middle (math 10% / reading 23%, grade F, #37 of 57 statewide, top 64%, 808 students, 85% FRL); Central High School (math 2% / reading 12%, grade F, #53 of 58 statewide, top 96%, 1,302 students, 87% FRL).
• Market conditions: Rents rising fast (+6.9%/yr); 153 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,171/mo this rent would consume 75% of the median local household income ($67k/yr) (locally 1176% 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 $3k of loan paydown is wiped out by about $14k 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 36 days — a 3% lower offer ($455k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 30y 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 $136k; list at $470k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $417,100 (11.2% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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 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: 0.89% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.88% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.60×
• Total profit: $-52,222
• Equity at exit: $70,004

10-year hold

• IRR: 3.5%
• Equity multiple: 1.29×
• Total profit: $38,741
• Equity at exit: $40,594

Cash invested: $131,460 (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 02904

• Rents YoY: 6.9%
• Active inventory: 153
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $4,171 high
• Mortgage (P&I): −$2,462
• Tax from tax record: −$529 /mo · $6,346/yr
• Insurance: −$196
• HOA: −$0
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $109

Break-even live

Break-even rent $4,034

Max offer price $469,500

Occupancy floor 92%

Sensitivity live

Price	-10% $374	-5% $241	+0% $109	+5% $-24	+10% $-157
Rent	-10% $-221	-5% $-56	+0% $109	+5% $273	+10% $438
Rate	-1.0pp $345	-0.5pp $228	base $109	+0.5pp $-13	+1.0pp $-137

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,172
Total (2 units)			$4,171

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: $117,375
• Closing costs: $14,085
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
191 Russo St Unit 1 Providence, RI	4.0	2.0	1500	$3,000	$2.00	3d	1	0.37mi
130 Smart St Providence, RI	4.0	2.0	1743	$3,500	$2.01	3d	1	0.42mi
14 Eaton St Providence, RI	3.0	1.0	1350	$2,550	$1.89	6d	1	0.93mi
23 Concannon St Providence, RI	3.0	2.0	1484	$2,700	$1.82	25d	1	0.93mi
38 Tyndall Ave Providence, RI	4.0	2.0	1500	$3,500	$2.33	21d	1	1.22mi
729 Academy Ave Providence, RI	3.0	1.0	1261	$2,395	$1.90	19d	1	1.48mi
711 Academy Ave Unit 2 Providence, RI	3.0	1.0	1565	$2,400	$1.53	6d	1	1.49mi
421 West Ave Unit 1 Pawtucket, RI	3.0	1.0	1498	$2,300	$1.54	3d	1	1.50mi

Listing history 33 events

1. 2026-04-23
   status Pending
2. 2026-03-18
   listed $469,500 Active
3. 2026-02-02
   historical
4. 2026-01-22
   listed $469,500 Active
5. 2016-11-08
   price $99,000
6. 2016-11-08
   price $287,900
7. 2013-12-19
   price $145,000
8. 2008-12-30
   soldstatus $135,500
9. 2008-12-30
   soldstatus $135,500
10. 2008-11-19
    historical
11. 2008-11-05
    listed $139,900
12. 2008-10-31
    historical
13. 2008-08-14
    listed $155,000
14. 2008-05-20
    soldstatus $96,000
15. 2008-05-16
    soldstatus $96,000
16. 2008-04-11
    historical
17. 2008-04-08
    listed $99,900
18. 2008-01-17
    soldstatus $158,015
19. 2005-11-01
    historical
20. 2005-07-21
    listed $294,900
21. 2003-08-04
    soldstatus $172,000
22. 2003-07-14
    historical
23. 2003-04-02
    listed $172,000
24. 2001-09-21
    soldstatus $118,500
25. 2001-08-28
    historical
26. 2001-06-21
    listed $115,900
27. 2000-07-31
    historical
28. 1999-12-31
    historical
29. 1999-04-05
    listed $99,900
30. 1998-07-23
    listed $104,000
31. 1997-03-12
    historical
32. 1996-04-12
    listed $99,927
33. 1990-10-26
    soldstatus $122,500

ⓘ 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: $6,346 · $529/mo
• Projected year-2 tax: $6,999 · $583/mo
• Expected delta: +$653/yr (+$54/mo · 10.3%)

ⓘ 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 6/10 Major 7 d/yr ≥97°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: $50,052
• − Mortgage interest: −$26,299
• − Property taxes: −$6,346
• − Insurance: −$2,348
• − Repairs & maintenance: −$4,004
• − Management: −$4,004
• − Depreciation: −$13,658
• Taxable loss: −$6,607
• Est. tax savings @ 24.0%: +$1,586
• After-tax cash flow: $2,888/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): 32,531
• Household income: $67,003
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1176.0

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 0.66)
• Race & ethnicity: White 51% Hispanic / Latino 27% Two or more races 16% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 7%
• Common ancestry: Lithuanian 7% Russian 6% Romanian 2%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 64% English-only · Spanish 20% Other Indo-European 5% Other Asian/Pacific 3%

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: ▼ -379.06%
• Current HPI: 363.1386
• Rent YoY: ▲ 6.88%
• 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

+283.3% since first listed

33 events — show timeline

• 2026-04-23 Pending — RIS
• 2026-03-18 Listed $469,500 RIS
• 2026-02-02 Listing Removed — RIS
• 2026-01-22 Listed $469,500 RIS
• 2016-11-08 Price Changed $287,900 RIS
• 2016-11-08 Price Changed $99,000 RIS
• 2013-12-19 Price Changed $145,000 RIS
• 2008-12-30 Sold (Public Records) $135,500 Public Records
• 2008-12-30 Sold (MLS) $135,500 RIS
• 2008-11-19 Listing Removed — RIS
• 2008-11-05 Listed $139,900 RIS
• 2008-10-31 Listing Removed — RIS
• 2008-08-14 Listed $155,000 RIS
• 2008-05-20 Sold (Public Records) $96,000 Public Records
• 2008-05-16 Sold (MLS) $96,000 RIS
• 2008-04-11 Listing Removed — RIS
• 2008-04-08 Listed $99,900 RIS
• 2008-01-17 Sold (Public Records) $158,015 Public Records
• 2005-11-01 Listing Removed — RIS
• 2005-07-21 Listed $294,900 RIS
• 2003-08-04 Sold (MLS) $172,000 RIS
• 2003-07-14 Listing Removed — RIS
• 2003-04-02 Listed $172,000 RIS
• 2001-09-21 Sold (Public Records) $118,500 Public Records
• 2001-08-28 Listing Removed — RIS
• 2001-06-21 Listed $115,900 RIS
• 2000-07-31 Listing Removed — RIS
• 1999-12-31 Listing Removed — RIS
• 1999-04-05 Listed $99,900 RIS
• 1998-07-23 Listed $104,000 RIS
• 1997-03-12 Listing Removed — RIS
• 1996-04-12 Listed $99,927 RIS
• 1990-10-26 Sold (Public Records) $122,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $6,346 · +24.0% YoY. Source: county tax records.