114 116 Jenkins St · Providence, RI 02906

$895,000

9 bd · 3.0 ba · 3,098 sqft · MultiFamily public records · 9 Days on market

Built 1880 3,158 sqft lot

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Why this score? — see what drove the C 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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investors take note- Large East Side 2 family with 6 car parking, sun filled rooms, inlayed wood floors, open kitchens, great closets, Patio, and 1 mile from colleges.

Key facts

• Ample parking area
• Turnkey
• 3,158 sq ft lot

Tags

• AMPLE PARKING AREA
• COIN OPERATED LAUNDRY
• TURNKEY
• MASTER LEASE FOR EACH UNIT

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath multifamily listed at $895k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $895k).
• Cap rate 8.6% vs local median 4.2% 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-, schools F.
• 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.
• Market conditions: Rents rising fast (+7.5%/yr); 145 active listings in the ZIP; solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $9,685/mo this rent would consume 113% of the median local household income ($103k/yr) (locally 1567% 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 $6k of loan paydown is wiped out by about $27k 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.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $251k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 28y 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 $140k; list at $895k implies a 539% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $895,000

Questions for the listing agent

1. Built in 1880 — 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 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?
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 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: 1.08% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.46% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $10,822
• Equity at exit: $133,447

10-year hold

• IRR: 14.6%
• Equity multiple: 2.42×
• Total profit: $355,929
• Equity at exit: $77,383

Cash invested: $250,600 (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 02906

• Rents YoY: 7.5%
• Active inventory: 145
• Price-to-rent: 27.9×

Monthly cashflow live

• Estimated rent: $9,685 high
• Mortgage (P&I): −$4,693
• Tax from tax record: −$850 /mo · $10,206/yr
• Insurance: −$373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,034
• Net cashflow: $1,734

Break-even live

Break-even rent $7,490

Max offer price $895,000

Occupancy floor 77%

Sensitivity live

Price	-10% $2,241	-5% $1,988	+0% $1,734	+5% $1,481	+10% $1,228
Rent	-10% $969	-5% $1,352	+0% $1,734	+5% $2,117	+10% $2,499
Rate	-1.0pp $2,185	-0.5pp $1,962	base $1,734	+0.5pp $1,502	+1.0pp $1,266

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$2,671
▸ 2× units	6	2.5	$7,014
Total (3 units)			$9,685

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-04-01
   status Pending
2. 2026-03-23
   listed $895,000 Active
3. 2023-12-22
   historical $850
4. 2023-12-19
   listed $850
5. 2012-05-16
   soldstatus $140,000
6. 2012-05-15
   soldstatus $140,000 167-char remark

   Show marketing remark (167 chars)

   Investors take note- Large East Side 2 family with 6 car parking, sun filled rooms, inlayed wood floors, open kitchens, great closets, Patio, and 1 mile from colleges.

7. 2012-03-21
   historical 167-char remark

   Show marketing remark (167 chars)

   Investors take note- Large East Side 2 family with 6 car parking, sun filled rooms, inlayed wood floors, open kitchens, great closets, Patio, and 1 mile from colleges.

8. 2012-03-09
   listed $149,900 167-char remark

   Show marketing remark (167 chars)

   Investors take note- Large East Side 2 family with 6 car parking, sun filled rooms, inlayed wood floors, open kitchens, great closets, Patio, and 1 mile from colleges.

9. 2004-08-17
   soldstatus $341,500
10. 2004-08-16
    soldstatus $341,001 164-char remark

    Show marketing remark (164 chars)

    FABULOUS 2 FAMILY. .. NEW PAINT GOING ON INSIDE & OUT. .NEW WINDOWS EVERYWHERE. .. HARDWOODS. .. BIG ROOMS. . GREAT SHAPE. .. GOOD PARKING. .. GOOD LOCATION !

11. 2004-07-01
    historical 164-char remark

    Show marketing remark (164 chars)

    FABULOUS 2 FAMILY. .. NEW PAINT GOING ON INSIDE & OUT. .NEW WINDOWS EVERYWHERE. .. HARDWOODS. .. BIG ROOMS. . GREAT SHAPE. .. GOOD PARKING. .. GOOD LOCATION !

12. 2004-05-13
    listed $348,888 164-char remark

    Show marketing remark (164 chars)

    FABULOUS 2 FAMILY. .. NEW PAINT GOING ON INSIDE & OUT. .NEW WINDOWS EVERYWHERE. .. HARDWOODS. .. BIG ROOMS. . GREAT SHAPE. .. GOOD PARKING. .. GOOD LOCATION !

13. 2002-05-16
    soldstatus $205,000
14. 2002-05-15
    soldstatus $205,000
15. 2002-03-28
    historical
16. 2002-03-20
    listed $188,888
17. 2001-09-26
    soldstatus $127,000
18. 2001-08-06
    historical
19. 2001-07-27
    listed $132,500
20. 1998-12-01
    historical
21. 1998-06-02
    listed $124,900

ⓘ 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: $10,206 · $850/mo
• Projected year-2 tax: $12,397 · $1,033/mo
• Expected delta: +$2,191/yr (+$183/mo · 21.5%)

ⓘ 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 6 d/yr ≥97°F today · 13 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: $116,220
• − Mortgage interest: −$50,134
• − Property taxes: −$10,206
• − Insurance: −$4,475
• − Repairs & maintenance: −$9,298
• − Management: −$9,298
• − Depreciation: −$26,036
• Taxable income: $6,774
• Est. tax owed @ 24.0%: −$1,626
• After-tax cash flow: $19,185/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): 26,380
• Household income: $103,050
• Rent vs Own: 48.5% rent · 51.5% own
• Severe rent burden: 1567.0

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 White (72%)
• Race & ethnicity: White 72% Asian 11% Hispanic / Latino 8% Two or more races 8% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 80% English-only · Other Indo-European 6% Spanish 5% Chinese 3%

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: ▼ -792.46%
• Current HPI: 355.3795
• Rent YoY: ▲ 7.46%
• 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

+616.6% since first listed

21 events — show timeline

• 2026-04-01 Pending — RIS
• 2026-03-23 Listed $895,000 RIS
• 2023-12-22 Rental Removed $850 APPFOLIO
• 2023-12-19 Listed for Rent $850 APPFOLIO
• 2012-05-16 Sold (Public Records) $140,000 Public Records
• 2012-05-15 Sold (MLS) $140,000 RIS
• 2012-03-21 Listing Removed — RIS
• 2012-03-09 Listed $149,900 RIS
• 2004-08-17 Sold (Public Records) $341,500 Public Records
• 2004-08-16 Sold (MLS) $341,001 RIS
• 2004-07-01 Listing Removed — RIS
• 2004-05-13 Listed $348,888 RIS
• 2002-05-16 Sold (Public Records) $205,000 Public Records
• 2002-05-15 Sold (MLS) $205,000 RIS
• 2002-03-28 Listing Removed — RIS
• 2002-03-20 Listed $188,888 RIS
• 2001-09-26 Sold (MLS) $127,000 RIS
• 2001-08-06 Listing Removed — RIS
• 2001-07-27 Listed $132,500 RIS
• 1998-12-01 Listing Removed — RIS
• 1998-06-02 Listed $124,900 RIS

Property tax history

+2.5%/yr

Latest (2025): $10,206 · +9.2% YoY. Source: county tax records.