41 Utton Ave · Pawtucket, RI 02860

$540,000

6 bd · 2.0 ba · 2,220 sqft · MultiFamily public records · 11 Days on market

Built 1920 3,049 sqft lot $243/sqft · 22% above area Est $679k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• Rent growth +3.4/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Multifamily home located in the spirited city of Pawtucket. Both units are approximately 1,100 square feet featuring 3 bedrooms, one bath, a large eat in kitchen and a large living room. Property also features fenced in yard. Conveniently located near bus routes, schools, shopping, restaurants, and more. Close highway access, minutes to I-95 and 5 minute drive to NEW TRAIN STATION. This house is a great investment, Don't miss this perfect opportunity! Please note this is SUBJECT TO SELLER FINDING SUITABLE HOUSING.

Key facts

• Two spacious units
• Fully paved backyard
• Updated bathrooms

Tags

• TWO SPACIOUS UNITS
• UPDATED KITCHENS
• UPDATED BATHROOMS
• ENERGY EFFICIENT WINDOWS
• FULLY PAVED BACKYARD
• DOUBLE PARLOR LIVING ROOMS

Property features AI

Finance

• Financial info: Assessed value reported; Annual tax amount reported

Exterior

• Parking: No garage; 4 off-street parking spaces
• Utilities: Circuit breaker electric; Sewer connected; Water connected
• Home design: Two-unit building; Single building
• Construction: Vinyl siding; Above-grade finished area approximately 3,395; Lot approximately 0.07 acres
• Exterior features: Sewer connected; Water connected

Interior

• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas baseboard heating
• Interior features: Hardwood flooring; Full unfinished basement with interior entry
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $540k.

Deal economics

• At list price, monthly cash flow is $-162 ($-2k/yr) — negative. Per door: $-81/mo.
• To cash-flow at today's rent, offer at most $511k (5.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $420k (22.3% below list).
• Recommended offer: $420k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.8% in Pawtucket — 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 71/100 on livability (#16 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, schools D, amenities F.
• Pawtucket (suburban): math 7% / reading 19% proficiency, ranked #33 of 39 in RI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 128 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,196/mo this rent would consume 82% of the median local household income ($62k/yr) (locally 2528% 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 $16k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 13y 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 $440k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $419,600 (22.3% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.28%
• DSCR: 0.94
• GRM: 10.7

CMA / ARV

• ARV (median comp): $678,550
• List price: $540,000
• Delta: -17.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 Newell Ave	0.03mi	6/2.0	2,216 (-0%)	12mo	$495,000	$223	88
14 Patterson Ave	0.12mi	6/3.0	2,246 (+1%)	19mo	$500,000	$223	73
167 Sisson St	0.23mi	6/2.0	2,250 (+1%)	23mo	$515,000	$229	68
120 Anthony Ave	0.18mi	6/2.0	2,000 (-10%)	22mo	$540,000	$270	57
70 Dunnell Ave	0.44mi	6/5.0	2,448 (+10%)	6mo	$565,000	$231	45
317 Smithfield Ave	0.64mi	5/2.0 (-1)	2,532 (+14%)	11mo	$600,000	$237	33
152 154 Pidge Ave	0.60mi	6/3.0	2,535 (+14%)	20mo	$602,500	$238	28
438 East Ave	0.73mi	6/3.0	2,488 (+12%)	22mo	$650,000	$261	24

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 · 3.47% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-95,899
• Equity at exit: $80,516

10-year hold

• IRR: -9.4%
• Equity multiple: 0.41×
• Total profit: $-88,885
• Equity at exit: $46,689

Cash invested: $151,200 (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 02860

• Rents YoY: 3.5%
• Active inventory: 128
• Price-to-rent: 21.4×

Monthly cashflow live

• Estimated rent: $4,196 high
• Mortgage (P&I): −$2,832
• Tax from tax record: −$420 /mo · $5,036/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$881
• Net cashflow: $-162

Break-even live

Break-even rent $4,401

Max offer price $511,445

Occupancy floor 99%

Sensitivity live

Price	-10% $144	-5% $-9	+0% $-162	+5% $-314	+10% $-467
Rent	-10% $-493	-5% $-327	+0% $-162	+5% $4	+10% $170
Rate	-1.0pp $110	-0.5pp $-24	base $-162	+0.5pp $-302	+1.0pp $-444

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,196
Total (2 units)			$4,196

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: $135,000
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $540,000 Active 11 DOM
2. 2026-06-18
   days on market $540,000 Active 8 DOM
3. 2026-06-17
   days on market $540,000 Active 7 DOM
4. 2026-06-16
   days on market $540,000 Active 6 DOM
5. 2026-06-15
   days on market $540,000 Active 5 DOM
6. 2026-06-13
   days on market $540,000 Active 3 DOM
7. 2026-06-13
   pricedays on marketlisting id $540,000 Active 2 DOM
8. 2026-06-09
   days on market $560,000 Active 47 DOM
9. 2026-06-08
   days on market $560,000 Active 46 DOM
10. 2026-06-07
    days on market $560,000 Active 45 DOM
11. 2026-06-05
    pricedays on market $560,000 Active 42 DOM
12. 2026-06-03
    days on market $575,000 Active 41 DOM
13. 2026-06-02
    days on market $575,000 Active 40 DOM
14. 2026-06-01
    days on market $575,000 Active 39 DOM
15. 2026-05-31
    days on market $575,000 Active 38 DOM
16. 2026-04-23
    listed $600,000 Active 914-char remark
17. 2024-03-25
    soldstatus $440,000 Closed 519-char remark

    Show marketing remark (519 chars)

    Multifamily home located in the spirited city of Pawtucket. Both units are approximately 1,100 square feet featuring 3 bedrooms, one bath, a large eat in kitchen and a large living room. Property also features fenced in yard. Conveniently located near bus routes, schools, shopping, restaurants, and more. Close highway access, minutes to I-95 and 5 minute drive to NEW TRAIN STATION. This house is a great investment, Don't miss this perfect opportunity! Please note this is SUBJECT TO SELLER FINDING SUITABLE HOUSING.

18. 2024-02-13
    status Pending 519-char remark

    Show marketing remark (519 chars)

    Multifamily home located in the spirited city of Pawtucket. Both units are approximately 1,100 square feet featuring 3 bedrooms, one bath, a large eat in kitchen and a large living room. Property also features fenced in yard. Conveniently located near bus routes, schools, shopping, restaurants, and more. Close highway access, minutes to I-95 and 5 minute drive to NEW TRAIN STATION. This house is a great investment, Don't miss this perfect opportunity! Please note this is SUBJECT TO SELLER FINDING SUITABLE HOUSING.

19. 2024-02-08
    listed $439,000 Active 519-char remark

    Show marketing remark (519 chars)

    Multifamily home located in the spirited city of Pawtucket. Both units are approximately 1,100 square feet featuring 3 bedrooms, one bath, a large eat in kitchen and a large living room. Property also features fenced in yard. Conveniently located near bus routes, schools, shopping, restaurants, and more. Close highway access, minutes to I-95 and 5 minute drive to NEW TRAIN STATION. This house is a great investment, Don't miss this perfect opportunity! Please note this is SUBJECT TO SELLER FINDING SUITABLE HOUSING.

20. 2017-01-23
    soldstatus $167,100
21. 2017-01-20
    soldstatus $167,000 Sold
22. 2016-10-13
    status Pending
23. 2016-09-06
    historical Active - Under Contract
24. 2016-08-14
    listed $159,000 Active - New
25. 2013-10-28
    soldstatus $116,000
26. 2013-10-28
    soldstatus $116,000
27. 2013-09-01
    historical
28. 2013-08-07
    listed $130,000

ⓘ 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: $5,036 · $420/mo
• Projected year-2 tax: $6,919 · $577/mo
• Expected delta: +$1,883/yr (+$157/mo · 37.4%)

ⓘ 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 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: $50,352
• − Mortgage interest: −$30,248
• − Property taxes: −$5,036
• − Insurance: −$2,700
• − Repairs & maintenance: −$4,028
• − Management: −$4,028
• − Depreciation: −$15,709
• Taxable loss: −$11,398
• Est. tax savings @ 24.0%: +$2,735
• After-tax cash flow: $796/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: Pawtucket
• NCES district ID: 4400840
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $41,838
• Composite: 11.29/100
• National rank: #9718
• State rank: #33 of 39 in RI

Livability — Pawtucket

• Score: 71/100
• State rank: #16
• US rank: #7037

Category grades

Amenities F Commute F 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: Pawtucket, RI
• County: Providence County · 548,917 people
• City population: 75,942
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 47,818
• Household income: $61,539
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 2528.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 40% Hispanic / Latino 29% Two or more races 22% Black 14% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 6%
• Common ancestry: Russian 9% Lithuanian 4% Romanian 2%
• Foreign-born: 28% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 22% Other Indo-European 9% French/Haitian/Cajun 9%

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: ▼ -215.00%
• Current HPI: 355.0152
• Rent YoY: ▲ 3.47%
• 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

+323.1% since first listed

18 events — show timeline

• 2026-06-10 Price Changed $550,000 RIS
• 2026-06-10 Listed $540,000 RIS
• 2026-06-10 Listing Removed — RIS
• 2026-06-03 Price Changed $560,000 RIS
• 2026-05-21 Price Changed $575,000 RIS
• 2026-04-23 Listed $600,000 RIS
• 2024-03-25 Sold (MLS) $440,000 RIS
• 2024-02-13 Pending — RIS
• 2024-02-08 Listed $439,000 RIS
• 2017-01-23 Sold (Public Records) $167,100 Public Records
• 2017-01-20 Sold (MLS) $167,000 RIS
• 2016-10-13 Pending — RIS
• 2016-09-06 Contingent — RIS
• 2016-08-14 Listed $159,000 RIS
• 2013-10-28 Sold (Public Records) $116,000 Public Records
• 2013-10-28 Sold (MLS) $116,000 RIS
• 2013-09-01 Listing Removed — RIS
• 2013-08-07 Listed $130,000 RIS

Property tax history

+3.5%/yr

Latest (2025): $5,036 · +6.6% YoY. Source: county tax records.