72 Ford St · Providence, RI 02907

$569,900

4 bd · 2.0 ba · 2,100 sqft · MultiFamily public records · 10 Days on market

Built 1910 3,049 sqft lot Est $458k · 24% over

---

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 +15.4/30.0
• Rent growth +5.0/5.0
• DSCR +4.7/10.0
• Livability +4.2/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• 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

OWNER OCCUPANTS AND INVESTORS TAKE NOTICE! Recently updated inside and out, townhouse second and third floor.

Key facts

• Finished attic
• Fitness area
• Finished basement

Tags

• FINISHED BASEMENT
• FINISHED ATTIC
• HOME OFFICE
• PLAYROOM
• MEDIA ROOM
• FITNESS AREA

Property features AI

Finance

• HOA & community: Monthly association fee (if applicable); Community access to highways, public transportation, sidewalks, shopping, restaurants, and proximity to hospital and schools

Exterior

• Parking: No garage; Five off-street parking spaces
• Utilities: Public water connected; Public sewer connected; Electrical service with 100 amp circuit breakers
• Home design: Multi-family building (2 units); Three total stories; Above-grade finished area reported
• Construction: Drywall and plaster interior walls; Vinyl siding; Built with standard foundation (information provided)
• Exterior features: Paved lot

Interior

• Kitchen: Eat-in kitchen(s); Oven; Range; Microwave; Refrigerator
• Bedrooms: One unit with three bedrooms (LR, EIK); One unit with two bedrooms (LR, EIK)
• Flooring: Ceramic tile; Hardwood; Laminate
• Bathrooms: Three full bathrooms across units (two in 3-bed unit, one in 2-bed unit)
• Heating & cooling: Gas-fired hot water heating
• Interior features: Attic with permanent attic stairs; Finished full basement with both interior and exterior entry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $570k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive. Per door: $107/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $471k (17.3% below list).
• Recommended offer: $471k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 (+15.3%/yr); 62 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,712/mo this rent would consume 108% of the median local household income ($52k/yr) (locally 2189% 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 21y 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 $115k; list at $570k implies a 396% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $471,200 (17.3% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.83% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $457,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 Lincoln Ave	0.72mi	4/3.0	2,106 (+0%)	24mo	$460,000	$218	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.66×
• Total profit: $-53,990
• Equity at exit: $84,974

10-year hold

• IRR: 5.8%
• Equity multiple: 1.52×
• Total profit: $83,117
• Equity at exit: $49,275

Cash invested: $159,572 (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 02907

• Home prices YoY: -20.1%
• Rents YoY: 15.3%
• Active inventory: 62
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $4,712 high
• Mortgage (P&I): −$2,989
• Tax from tax record: −$282 /mo · $3,385/yr
• Insurance: −$237
• HOA: −$0
• Vacancy / Maint / Mgmt: −$990
• Net cashflow: $214

Break-even live

Break-even rent $4,441

Max offer price $569,900

Occupancy floor 90%

Sensitivity live

Price	-10% $537	-5% $376	+0% $214	+5% $53	+10% $-108
Rent	-10% $-158	-5% $28	+0% $214	+5% $400	+10% $587
Rate	-1.0pp $501	-0.5pp $359	base $214	+0.5pp $67	+1.0pp $-84

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$4,712
Total (2 units)			$4,712

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: $142,475
• Closing costs: $17,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Anthony Ave Unit 1 Providence, RI	3.0	2.0	1400	$2,800	$2.00	16d	1	0.47mi
56 Greenwich St Unit 1 Providence, RI	3.0	2.0	1400	$2,800	$2.00	25d	1	0.49mi
216 Maplewood Ave Cranston, RI	3.0	1.5	2921	$2,200	$0.75	6d	1	0.99mi
216 Maplewood Ave Cranston, RI	3.0	1.5	1850	$2,200	$1.19	45d	1	0.99mi
14 Calef St Unit 16 Cranston, RI	5.0	3.0	3000	$3,500	$1.17	19d	1	1.39mi
35 Stadden St Unit 2/3 Providence, RI	3.0	1.5	1900	$2,600	$1.37	19d	1	1.43mi

Listing history 26 events

1. 2026-04-30
   status Pending
2. 2026-04-20
   listed $569,900 Active
3. 2023-11-03
   status Pending
4. 2023-11-03
   historical
5. 2023-10-16
   listed $500,000 Active
6. 2017-01-23
   soldstatus $115,000 Sold 109-char remark

   Show marketing remark (109 chars)

   OWNER OCCUPANTS AND INVESTORS TAKE NOTICE! Recently updated inside and out, townhouse second and third floor.

7. 2016-11-08
   price $267,000
8. 2016-10-27
   status Pending 109-char remark

   Show marketing remark (109 chars)

   OWNER OCCUPANTS AND INVESTORS TAKE NOTICE! Recently updated inside and out, townhouse second and third floor.

9. 2016-08-23
   listed $123,900 Active - New 109-char remark

   Show marketing remark (109 chars)

   OWNER OCCUPANTS AND INVESTORS TAKE NOTICE! Recently updated inside and out, townhouse second and third floor.

10. 2016-08-19
    historical
11. 2016-02-22
    listed $124,900 Active - New
12. 2014-12-13
    historical
13. 2014-06-12
    listed $119,900 Active - New
14. 2014-04-30
    historical
15. 2013-12-19
    price $39,900
16. 2013-11-02
    listed $89,900 Active
17. 2008-12-02
    soldstatus $26,500
18. 2008-10-15
    historical
19. 2008-04-24
    listed $97,900
20. 2007-08-02
    soldstatus $247,500
21. 2006-06-15
    soldstatus $250,000
22. 2005-12-05
    historical
23. 2005-08-29
    listed $260,000
24. 2005-08-05
    historical
25. 2005-06-05
    listed $270,000
26. 2001-10-15
    soldstatus $84,500

ⓘ 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: $3,385 · $282/mo
• Projected year-2 tax: $6,337 · $528/mo
• Expected delta: +$2,952/yr (+$246/mo · 87.2%)

ⓘ 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 6/10 Major 7 d/yr ≥97°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: $56,544
• − Mortgage interest: −$31,923
• − Property taxes: −$3,385
• − Insurance: −$2,850
• − Repairs & maintenance: −$4,524
• − Management: −$4,524
• − Depreciation: −$16,579
• Taxable loss: −$7,240
• Est. tax savings @ 24.0%: +$1,738
• After-tax cash flow: $4,309/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): 31,461
• Household income: $52,485
• Rent vs Own: 63.7% rent · 36.3% own
• Severe rent burden: 2189.0

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: Predominantly Hispanic (70%)
• Race & ethnicity: Hispanic / Latino 70% Two or more races 26% Black 10% White 10% Asian 5% Native American 2%
• Hispanic origin (detail): Puerto Rican 7% Dominican 50%
• Common ancestry: Swiss 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 55% · Canada, Jamaica, Philippines
• Languages at home: 25% English-only · Spanish 67% Other Asian/Pacific 3% 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: ▼ -125.19%
• Current HPI: 498.142
• Rent YoY: ▲ 15.32%
• 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

+574.4% since first listed

26 events — show timeline

• 2026-04-30 Pending — RIS
• 2026-04-20 Listed $569,900 RIS
• 2023-11-03 Pending — RIS
• 2023-11-03 Listing Removed — RIS
• 2023-10-16 Listed $500,000 RIS
• 2017-01-23 Sold (MLS) $115,000 RIS
• 2016-11-08 Price Changed $267,000 RIS
• 2016-10-27 Pending — RIS
• 2016-08-23 Listed $123,900 RIS
• 2016-08-19 Listing Removed — RIS
• 2016-02-22 Listed $124,900 RIS
• 2014-12-13 Listing Removed — RIS
• 2014-06-12 Listed $119,900 RIS
• 2014-04-30 Listing Removed — RIS
• 2013-12-19 Price Changed $39,900 RIS
• 2013-11-02 Listed $89,900 RIS
• 2008-12-02 Sold (MLS) $26,500 RIS
• 2008-10-15 Listing Removed — RIS
• 2008-04-24 Listed $97,900 RIS
• 2007-08-02 Sold (Public Records) $247,500 Public Records
• 2006-06-15 Sold (Public Records) $250,000 Public Records
• 2005-12-05 Listing Removed — RIS
• 2005-08-29 Listed $260,000 RIS
• 2005-08-05 Listing Removed — RIS
• 2005-06-05 Listed $270,000 RIS
• 2001-10-15 Sold (Public Records) $84,500 Public Records

Property tax history

-0.2%/yr

Latest (2025): $3,385 · -38.4% YoY. Source: county tax records.