292 Sowams Rd · East Providence, RI 02806

$499,000

3 bd · 1.0 ba · 1,394 sqft · SingleFamily public records · 6 Days on market

Built 1947 0.40 ac lot Est $553k · 10% under ↓ 11% since listing

---

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 +13.1/30.0
• ARV discount +11.9/15.0
• Schools +5.8/10.0
• DSCR +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 292 Sowams Road offering a great value for a fully renovated Charming Cape in the heart of Hampden Meadows. This beautifully renovated home blends classic charm with modern sophistication, offering a peaceful escape. Set on nearly a half acre lot, bordering walking trails, this home feels like a retreat while still being close proximity to everything. Inside, every detail has been thoughtfully designed. The brand new kitchen showcases custom cabinetry, quartz countertops, and stainless steel appliances, perfect for everything from weeknight dinners to hosting friends. The first floor also features a cozy living room, dining room, large first floor bedroom, beautifully renovated f

Key facts

• Custom cabinetry
• Fully renovated
• Quartz countertops

Tags

• FULLY RENOVATED
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE BACKYARD
• DETACHED GARAGE

Property features AI

Finance

• HOA & community: Community amenities include golf, marina, pool, public transportation, recreation area, restaurant, shopping, and tennis courts

Exterior

• Parking: Detached garage with garage door opener; Total of 5 parking spaces (1 covered)
• Utilities: Sewer connected; Public water connected; Electric service (100 amps, circuit breakers)
• Home design: 2-story home; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Porch; Paved driveway; Walk-to-water

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Total rooms: 6
• Flooring: Ceramic tile; Hardwood; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating; Steam heating; 100 amp electrical service with circuit breakers
• Interior features: Thermal windows; Tub with shower; Storage room; Utility room; Full unfinished basement with interior and exterior entry
• Laundry & utility: Washer; Dryer; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $499k.

Deal economics

• At list price, monthly cash flow is $-20 ($-244/yr) — negative.
• To cash-flow at today's rent, offer at most $495k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $441k (11.7% below list).
• Recommended offer: $441k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.1% in East 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 74/100 on livability (#12 in RI, #4,784 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Barrington (suburban): math 55% / reading 70% proficiency, ranked #1 of 39 in RI (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 4% free/reduced lunch — higher-income household profile.
• Zoned schools: Barrington Middle School (math 54% / reading 70%, grade B+, #1 of 57 statewide, top 0%, 789 students, 7% FRL); Barrington High School (math 65% / reading 84%, grade B+, #2 of 58 statewide, top 2%, 1,139 students, 7% FRL) — zoned schools at 7% FRL track the district average.
• Market conditions: 99 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 29 units permitted in Bristol County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Bristol County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 $375k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% 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 $440,591 (11.7% 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. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.17%
• DSCR: 0.99
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $553,418
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
292 Sowams Rd	0.00mi	3/1.0	1,394 (0%)	1mo	$490,000	$352	99
41 Orchard Ave	0.61mi	3/2.0	1,450 (+4%)	10mo	$575,000	$397	52
2 Simmons Rd	0.75mi	3/1.5	1,525 (+9%)	5mo	$610,000	$400	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.41×
• Total profit: $-82,054
• Equity at exit: $74,403

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-72,716
• Equity at exit: $43,144

Cash invested: $139,720 (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 02806

• Active inventory: 99
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $4,406 medium
• Mortgage (P&I): −$2,617
• Tax from tax record: −$676 /mo · $8,115/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$925
• Net cashflow: $-20

Break-even live

Break-even rent $4,432

Max offer price $495,412

Occupancy floor 95%

Sensitivity live

Price	-10% $262	-5% $121	+0% $-20	+5% $-162	+10% $-303
Rent	-10% $-368	-5% $-194	+0% $-20	+5% $154	+10% $328
Rate	-1.0pp $231	-0.5pp $107	base $-20	+0.5pp $-150	+1.0pp $-281

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Baron Rd Barrington, RI	2.0	1.0	960	$3,400	$3.54	3d	1	0.49mi
52 County Rd Unit A Barrington, RI	3.0	1.5	1500	$7,500	$5.00	3d	1	1.14mi
86 Hamilton Ave Unit 1st floor Barrington, RI	3.0	2.0	1440	$3,000	$2.08	3d	1	1.24mi

Listing history 15 events

1. 2026-04-16
   status Pending
2. 2026-04-09
   listed $499,000 Active
3. 2026-04-09
   historical
4. 2026-03-12
   listed $525,000 Active
5. 2026-02-22
   historical
6. 2026-02-16
   price $549,000
7. 2026-01-20
   price $569,000
8. 2025-12-10
   listed $595,000 Active
9. 2025-07-31
   soldstatus $375,000 Closed
10. 2025-07-31
    soldstatus $375,000
11. 2025-07-22
    status Pending
12. 2025-07-19
    price $419,000
13. 2025-07-09
    price $465,000
14. 2025-06-29
    price $499,000
15. 2025-05-14
    listed $559,000 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: $8,115 · $676/mo
• Projected year-2 tax: $8,124 · $677/mo
• Expected delta: +$9/yr (+$1/mo · 0.1%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 20% 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 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,871
• − Mortgage interest: −$27,952
• − Property taxes: −$8,115
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,230
• − Management: −$4,230
• − Depreciation: −$14,516
• Taxable loss: −$8,667
• Est. tax savings @ 24.0%: +$2,080
• After-tax cash flow: $1,836/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: Barrington
• NCES district ID: 4400030
• Math proficiency: 55% ▼ -11.00%
• Reading proficiency: 70% ▼ -5.00%
• Median HH income: $104,568
• Composite: 58.31/100
• National rank: #1016
• State rank: #1 of 39 in RI

Livability — East Providence

• Score: 74/100
• State rank: #12
• US rank: #4784

Category grades

Amenities F Commute F Cost of living B+ Crime A+ Employment B Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 38,586
• Population (ZIP): 17,113

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 49,175 people
• By 2030: 48,295 · -1.8%
• By 2040: 45,652 · -7.2%
• By 2050: 43,093 · -12.4%
• By 2075: 38,508 · -21.7%
• By 2100: 34,809 · -29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 6% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Russian 8% Lithuanian 4% Romanian 3%
• Foreign-born: 9% · China, Canada
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 3% Chinese 2%

Political lean MEDSL · Bristol

• 2024 margin: Strong D (+26.4) · D 62.1% · R 35.7% · Other 2.2%
• 2008→2024 swing: -0.4pp no change · 2008: 26.8pp · 2024: 26.4pp
• All cycles: 2024: D+26.4 2020: D+29.2 2016: D+22.8 2012: D+23.3 2008: D+26.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -655.62%
• Current HPI: 392.5723
• Rent YoY: —
• Metro: —
• 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

-10.7% since first listed

15 events — show timeline

• 2026-04-16 Pending — RIS
• 2026-04-09 Listing Removed — RIS
• 2026-04-09 Listed $499,000 RIS
• 2026-03-12 Listed $525,000 RIS
• 2026-02-22 Listing Removed — RIS
• 2026-02-16 Price Changed $549,000 RIS
• 2026-01-20 Price Changed $569,000 RIS
• 2025-12-10 Listed $595,000 RIS
• 2025-07-31 Sold (Public Records) $375,000 Public Records
• 2025-07-31 Sold (MLS) $375,000 RIS
• 2025-07-22 Pending — RIS
• 2025-07-19 Price Changed $419,000 RIS
• 2025-07-09 Price Changed $465,000 RIS
• 2025-06-29 Price Changed $499,000 RIS
• 2025-05-14 Listed $559,000 RIS

Property tax history

+3.4%/yr

Latest (2025): $8,115 · +4.0% YoY. Source: county tax records.