46 Lilac St · Pawtucket, RI 02860

$599,000

5 bd · 3.0 ba · 1,656 sqft · MultiFamily public records · 26 Days on market

Built 1920 4,792 sqft lot Est $525k · 14% over

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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).

• Cash flow +12.6/30.0
• DSCR +3.8/10.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +1.2/15.0
• 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: 3 units. confirmed

Listing remarks MLS

Fully rehabbed multi family home in a nice neighborhood in Pawtucket. Very spacious 8000 sqft lot that offers plenty of parking and yard for the entertaining. Brand new everything. Home offers a modern design along with new Kitchens and Bathrooms. Great mechanicals including Roof, windows, electrical and plumbing.

Key facts

• Added privacy
• Turnkey multi-family
• Corner lot

Tags

• TURNKEY MULTI-FAMILY
• CORNER LOT
• ADDED PRIVACY
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Property contains 3 units in 1 building

Exterior

• Parking: No garage; Total of 6 parking spaces
• Utilities: Circuit breaker electric panel; Public water; Public sewer
• Home design: 3-story building; Above-grade finished area approximately 1,656
• Construction: Vinyl siding; Drywall; Solar energy generation
• Exterior features: Public sewer connected; Public water connected; Lot approximately 0.11 acres

Interior

• Flooring: Ceramic tile; Laminate
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas baseboard heating
• Interior features: Full unfinished basement; Tub/shower
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $-74 ($-888/yr) — negative. Per door: $-25/mo.
• To cash-flow at today's rent, offer at most $586k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $480k (19.9% below list).
• Recommended offer: $480k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,798/mo this rent would consume 94% 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 $18k 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 26 days — a 2% lower offer ($590k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $325k; list at $599k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $479,800 (19.9% 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: 0.80% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.53%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $524,952
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
189 East St	0.08mi	5/2.0	1,680 (+1%)	18mo	$430,000	$256	75
198 East St	0.11mi	6/2.0 (+1)	1,636 (-1%)	19mo	$570,000	$348	68
386 Mendon Ave	0.68mi	5/3.0	1,664 (+0%)	2mo	$600,000	$361	66
10 Foundry St	0.45mi	4/2.0 (-1)	1,740 (+5%)	9mo	$460,000	$264	54
87 Carnation St	0.16mi	4/2.0 (-1)	1,472 (-11%)	19mo	$450,000	$306	49
12 Flint St	0.72mi	4/2.0 (-1)	1,696 (+2%)	21mo	$550,000	$324	36
105 John St	0.46mi	4/2.0 (-1)	1,466 (-12%)	20mo	$465,000	$317	34

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-99,592
• Equity at exit: $89,313

10-year hold

• IRR: -7.8%
• Equity multiple: 0.50×
• Total profit: $-83,738
• Equity at exit: $51,791

Cash invested: $167,720 (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: 30.4×

Monthly cashflow live

• Estimated rent: $4,798 high
• Mortgage (P&I): −$3,141
• Tax from tax record: −$474 /mo · $5,683/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,008
• Net cashflow: $-74

Break-even live

Break-even rent $4,892

Max offer price $585,933

Occupancy floor 97%

Sensitivity live

Price	-10% $265	-5% $96	+0% $-74	+5% $-244	+10% $-413
Rent	-10% $-453	-5% $-263	+0% $-74	+5% $116	+10% $305
Rate	-1.0pp $228	-0.5pp $78	base $-74	+0.5pp $-229	+1.0pp $-387

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,284
1× unit	1	1	$1,514
Total (3 units)			$4,798

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 Daniels St Unit 3rd floor Pawtucket, RI	4.0	1.0	1200	$2,400	$2.00	45d	1	0.26mi
14 Courtland St Unit 3 Central Falls, RI	4.0	1.0	1240	$1,950	$1.57	12d	1	0.71mi
14 Carpenter St Unit 1 Cumberland, RI	4.0	1.0	1467	$2,850	$1.94	3d	1	0.86mi
96 Shawmut Ave Unit 98 Central Falls, RI	4.0	1.5	1398	$2,700	$1.93	20d	1	1.06mi
97 Wendell St Pawtucket, RI	4.0	2.0	1680	$3,000	$1.79	3d	1	1.18mi

Listing history 20 events

1. 2026-06-21
   days on market $599,000 Active 26 DOM
2. 2026-06-18
   days on market $599,000 Active 23 DOM
3. 2026-06-17
   days on market $599,000 Active 22 DOM
4. 2026-06-16
   days on market $599,000 Active 21 DOM
5. 2026-06-15
   days on market $599,000 Active 20 DOM
6. 2026-06-13
   days on market $599,000 Active 18 DOM
7. 2026-06-13
   days on market $599,000 Active 17 DOM
8. 2026-06-09
   days on market $599,000 Active 14 DOM
9. 2026-06-08
   days on market $599,000 Active 13 DOM
10. 2026-06-07
    days on market $599,000 Active 12 DOM
11. 2026-06-05
    days on market $599,000 Active 9 DOM
12. 2026-06-03
    days on market $599,000 Active 8 DOM
13. 2026-06-02
    days on market $599,000 Active 7 DOM
14. 2026-06-01
    days on market $599,000 Active 6 DOM
15. 2026-05-31
    days on market $599,000 Active 5 DOM
16. 2026-05-26
    listed $599,000 Active
17. 2020-11-23
    soldstatus $325,000 Closed 315-char remark

    Show marketing remark (315 chars)

    Fully rehabbed multi family home in a nice neighborhood in Pawtucket. Very spacious 8000 sqft lot that offers plenty of parking and yard for the entertaining. Brand new everything. Home offers a modern design along with new Kitchens and Bathrooms. Great mechanicals including Roof, windows, electrical and plumbing.

18. 2020-11-18
    soldstatus $325,000
19. 2020-09-09
    status Pending 315-char remark

    Show marketing remark (315 chars)

    Fully rehabbed multi family home in a nice neighborhood in Pawtucket. Very spacious 8000 sqft lot that offers plenty of parking and yard for the entertaining. Brand new everything. Home offers a modern design along with new Kitchens and Bathrooms. Great mechanicals including Roof, windows, electrical and plumbing.

20. 2020-09-04
    listed $319,900 Active 315-char remark

    Show marketing remark (315 chars)

    Fully rehabbed multi family home in a nice neighborhood in Pawtucket. Very spacious 8000 sqft lot that offers plenty of parking and yard for the entertaining. Brand new everything. Home offers a modern design along with new Kitchens and Bathrooms. Great mechanicals including Roof, windows, electrical and plumbing.

ⓘ 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: $5,683 · $474/mo
• Projected year-2 tax: $7,723 · $644/mo
• Expected delta: +$2,040/yr (+$170/mo · 35.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $57,576
• − Mortgage interest: −$33,553
• − Property taxes: −$5,683
• − Insurance: −$2,995
• − Repairs & maintenance: −$4,606
• − Management: −$4,606
• − Depreciation: −$17,425
• Taxable loss: −$11,293
• Est. tax savings @ 24.0%: +$2,710
• After-tax cash flow: $1,823/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

+87.2% since first listed

5 events — show timeline

• 2026-05-26 Listed $599,000 RIS
• 2020-11-23 Sold (MLS) $325,000 RIS
• 2020-11-18 Sold (Public Records) $325,000 Public Records
• 2020-09-09 Pending — RIS
• 2020-09-04 Listed $319,900 RIS

Property tax history

+7.4%/yr

Latest (2025): $5,683 · +6.6% YoY. Source: county tax records.