3428 West Shore Rd · Warwick, RI 02886

$459,000

4 bd · 2.5 ba · 2,457 sqft · SingleFamily public records · 25 Days on market

Built 1910 0.77 ac lot $187/sqft · 5% below area Est $506k · 9% under

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Why this score? — see what drove the B- 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 +26.7/30.0
• ARV discount +11.7/15.0
• DSCR +9.2/10.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this spacious Colonial/Victorian style home offering 4 bedrooms and 2.5 baths. You'll have plenty of room to roam with over 2500 square feet of living space offering many options for private remote working areas. This uniquely designed home offers a double parlor, family room, dining room, generous closet space, two kitchens, and two separate sets of stairs. Exterior features include a welcoming farmer's porch, 2 car garage, plenty of parking, large shed and is situated on over 3/4 acre affording a sprawling yard with endless possibilities. This home is zoned single family but it does have in-law possibilities.

Key facts

• Lovely front porch
• Full in-law setup
• Dedicated office

Tags

• LOVELY FRONT PORCH
• BEAUTIFUL HARDWOOD FLOORS
• IMPRESSIVE CLOSET SPACE
• DEDICATED OFFICE
• FULL IN-LAW SETUP
• OVERSIZED 2-CAR GARAGE

Property features AI

Finance

• HOA & community: Community has highway access, nearby hospital, schools, pool, public transportation, recreation area, restaurants, shopping, and tennis courts

Exterior

• Parking: Detached garage; Garage; Total parking for 7 vehicles; 2 covered parking spaces; 2-car garage
• Utilities: Sewer connected; Water connected; 200+ amp electrical service
• Home design: 2-story house; Above-grade finished area; Basement with exterior and interior entry, partially finished, full
• Construction: Plaster; Clapboard; Wood siding; Concrete perimeter foundation
• Exterior features: Porch

Interior

• Kitchen: Oven; Range; Range hood; Refrigerator
• Flooring: Hardwood; Vinyl; Wood; Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Hot water heating; Oil heating; Steam heating; Central air conditioning
• Interior features: Storm door(s); Tub with shower; Cable TV; Wood burning stove; Intercom
• Laundry & utility: Washer; Dryer; Gas water heater; Water heater; Utility room; Storage room; Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $459k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $459k).
• Recommended offer: $452k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.7% in Warwick — 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 78/100 on livability (#6 in RI, #2,425 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing A+; Watch: schools D+, amenities F.
• Warwick (urban): math 15% / reading 32% proficiency, ranked #25 of 39 in RI (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 118 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 471 units permitted in Kent County in 2024 (240 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 $14k of value loss. Plan a longer hold.
• Kent County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $129k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($452k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $452,115 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.63%
• DSCR: 1.52
• GRM: 6.9

CMA / ARV

• ARV (median comp): $506,345
• List price: $459,000
• Delta: -9.35%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3428 West Shore Rd	0.00mi	4/2.5	2,569 (+5%)	0mo	$500,000	$195	92
67 Oak Tree Ave	0.15mi	3/2.5 (-1)	2,376 (-3%)	4mo	$645,000	$271	79
3383 West Shore Rd	0.10mi	4/1.5	2,702 (+10%)	5mo	$485,000	$179	71
5 Alto St	0.54mi	4/2.5	2,540 (+3%)	13mo	$565,000	$222	58
3539 Westshore Rd	0.20mi	3/2.0 (-1)	2,159 (-12%)	6mo	$422,100	$196	58
7 Cosett Rd	0.50mi	4/2.0	2,237 (-9%)	8mo	$564,000	$252	53
3181 Post Rd	0.55mi	4/2.0	2,336 (-5%)	18mo	$499,000	$214	49
52 Goodrich Ave	0.29mi	3/1.0 (-1)	2,604 (+6%)	20mo	$340,000	$131	49
71 Red Maple Ln	0.67mi	4/2.5	2,106 (-14%)	4mo	$688,450	$327	41
345 Nausauket Rd	0.66mi	3/1.5 (-1)	2,149 (-12%)	2mo	$555,000	$258	38
82 Child Ln	0.74mi	3/2.5 (-1)	2,106 (-14%)	7mo	$685,000	$325	31
32 Red Maple Ln	0.73mi	3/2.5 (-1)	2,106 (-14%)	9mo	$697,500	$331	30

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $4,980
• Equity at exit: $68,438

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $106,651
• Equity at exit: $39,686

Cash invested: $128,520 (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 02886

• Active inventory: 118
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $5,516 medium
• Mortgage (P&I): −$2,407
• Tax from tax record: −$514 /mo · $6,165/yr
• Insurance: −$191
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,158
• Net cashflow: $1,245

Break-even live

Break-even rent $3,939

Max offer price $459,000

Occupancy floor 72%

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: $114,750
• Closing costs: $13,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2915 Post Rd Unit 1 Warwick, RI	3.0	1.5	2797	$3,550	$1.27	12d	1	0.62mi
47 Arnolds Neck Dr Warwick, RI	3.0	3.5	2400	$7,500	$3.12	44d	1	0.69mi

Listing history 12 events

1. 2026-06-02
   status $459,000 Pending 25 DOM
2. 2026-06-01
   days on market $459,000 Active Under Contract 25 DOM
3. 2026-05-31
   days on market $459,000 Active Under Contract 24 DOM
4. 2026-05-14
   historical Active Under Contract 1484-char remark
5. 2026-05-07
   listed $459,000 Active 1484-char remark
6. 2023-03-10
   soldstatus $315,000
7. 2022-01-28
   soldstatus $315,000 Closed 634-char remark

   Show marketing remark (634 chars)

   Welcome home to this spacious Colonial/Victorian style home offering 4 bedrooms and 2.5 baths. You'll have plenty of room to roam with over 2500 square feet of living space offering many options for private remote working areas. This uniquely designed home offers a double parlor, family room, dining room, generous closet space, two kitchens, and two separate sets of stairs. Exterior features include a welcoming farmer's porch, 2 car garage, plenty of parking, large shed and is situated on over 3/4 acre affording a sprawling yard with endless possibilities. This home is zoned single family but it does have in-law possibilities.

8. 2022-01-28
   soldstatus $315,000

   Show marketing remark (634 chars)

   Welcome home to this spacious Colonial/Victorian style home offering 4 bedrooms and 2.5 baths. You'll have plenty of room to roam with over 2500 square feet of living space offering many options for private remote working areas. This uniquely designed home offers a double parlor, family room, dining room, generous closet space, two kitchens, and two separate sets of stairs. Exterior features include a welcoming farmer's porch, 2 car garage, plenty of parking, large shed and is situated on over 3/4 acre affording a sprawling yard with endless possibilities. This home is zoned single family but it does have in-law possibilities.

9. 2021-12-31
   status Pending 634-char remark

   Show marketing remark (634 chars)

   Welcome home to this spacious Colonial/Victorian style home offering 4 bedrooms and 2.5 baths. You'll have plenty of room to roam with over 2500 square feet of living space offering many options for private remote working areas. This uniquely designed home offers a double parlor, family room, dining room, generous closet space, two kitchens, and two separate sets of stairs. Exterior features include a welcoming farmer's porch, 2 car garage, plenty of parking, large shed and is situated on over 3/4 acre affording a sprawling yard with endless possibilities. This home is zoned single family but it does have in-law possibilities.

10. 2021-12-10
    historical Active Under Contract 634-char remark

    Show marketing remark (634 chars)

    Welcome home to this spacious Colonial/Victorian style home offering 4 bedrooms and 2.5 baths. You'll have plenty of room to roam with over 2500 square feet of living space offering many options for private remote working areas. This uniquely designed home offers a double parlor, family room, dining room, generous closet space, two kitchens, and two separate sets of stairs. Exterior features include a welcoming farmer's porch, 2 car garage, plenty of parking, large shed and is situated on over 3/4 acre affording a sprawling yard with endless possibilities. This home is zoned single family but it does have in-law possibilities.

11. 2021-11-01
    price $375,000 634-char remark

    Show marketing remark (634 chars)

    Welcome home to this spacious Colonial/Victorian style home offering 4 bedrooms and 2.5 baths. You'll have plenty of room to roam with over 2500 square feet of living space offering many options for private remote working areas. This uniquely designed home offers a double parlor, family room, dining room, generous closet space, two kitchens, and two separate sets of stairs. Exterior features include a welcoming farmer's porch, 2 car garage, plenty of parking, large shed and is situated on over 3/4 acre affording a sprawling yard with endless possibilities. This home is zoned single family but it does have in-law possibilities.

12. 2021-09-21
    listed $400,000 Active 634-char remark

    Show marketing remark (634 chars)

    Welcome home to this spacious Colonial/Victorian style home offering 4 bedrooms and 2.5 baths. You'll have plenty of room to roam with over 2500 square feet of living space offering many options for private remote working areas. This uniquely designed home offers a double parlor, family room, dining room, generous closet space, two kitchens, and two separate sets of stairs. Exterior features include a welcoming farmer's porch, 2 car garage, plenty of parking, large shed and is situated on over 3/4 acre affording a sprawling yard with endless possibilities. This home is zoned single family but it does have in-law possibilities.

ⓘ 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: $6,165 · $514/mo
• Projected year-2 tax: $6,823 · $569/mo
• Expected delta: +$658/yr (+$55/mo · 10.7%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% 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: $66,187
• − Mortgage interest: −$25,711
• − Property taxes: −$6,165
• − Insurance: −$2,295
• − Repairs & maintenance: −$5,295
• − Management: −$5,295
• − Depreciation: −$13,353
• Taxable income: $8,073
• Est. tax owed @ 24.0%: −$1,938
• After-tax cash flow: $13,006/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: Warwick
• NCES district ID: 4401110
• Math proficiency: 15% ▼ -11.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $63,420
• Composite: 22.03/100
• National rank: #8203
• State rank: #25 of 39 in RI

Livability — Warwick

• Score: 78/100
• State rank: #6
• US rank: #2425

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warwick, RI
• City population: 108,434
• Population (ZIP): 30,925

Population outlook (Kent County) Hauer SSP2

• Today (2025): 160,994 people
• By 2030: 157,428 · -2.2%
• By 2040: 148,389 · -7.8%
• By 2050: 137,995 · -14.3%
• By 2075: 118,536 · -26.4%
• By 2100: 102,266 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Asian 4% Black 2%
• Common ancestry: Lithuanian 8% Russian 7% Romanian 3%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 2% Other Asian/Pacific 2% Other Indo-European 2%

Political lean MEDSL · Kent

• 2024 margin: Toss-up / Even · D 49.9% · R 48.1% · Other 2.0%
• 2008→2024 swing: -15.6pp toward R · 2008: 17.5pp · 2024: 1.9pp
• All cycles: 2024: D+1.9 2020: D+7.6 2016: R+0.7 2012: D+18.4 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -425.54%
• Current HPI: 350.8111
• 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

+25.0% since first listed

11 events — show timeline

• 2026-06-15 Sold (MLS) $500,000 RIS
• 2026-06-01 Pending — RIS
• 2026-05-14 Contingent — RIS
• 2026-05-07 Listed $459,000 RIS
• 2023-03-10 Sold (Public Records) $315,000 Public Records
• 2022-01-28 Sold (Public Records) $315,000 Public Records
• 2022-01-28 Sold (MLS) $315,000 RIS
• 2021-12-31 Pending — RIS
• 2021-12-10 Contingent — RIS
• 2021-11-01 Price Changed $375,000 RIS
• 2021-09-21 Listed $400,000 RIS

Property tax history

+0.9%/yr

Latest (2025): $6,165 · +24.7% YoY. Source: county tax records.