117 John St #5 · Lincoln, RI 02865

$165,000

2 bd · 1.0 ba · 827 sqft · Condo public records · 38 Days on market

Built 1973 $200/sqft · 14% below area Est $191k · 14% under $406/mo HOA · 23% of rent

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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).

• ARV discount +13.7/15.0
• Cash flow +9.7/30.0
• 1% rule +5.8/10.0
• Schools +3.9/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2-bedroom, 1 full bathroom condo located in desirable Lincoln! Offering great potential and generous living space, this unit is perfect for investors, contractors, or buyers looking to add their personal touch. Features include a large living area, good-sized bedrooms, and plenty of natural light throughout. Conveniently located near shopping, restaurants, highways, and local amenities. With some updates and TLC, this condo can truly shine. Don't miss this opportunity to build equity in a sought-after location!

Key facts

• $406 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Financial info: Pets allowed (cats permitted)
• HOA & community: Monthly association fee of $406; Association covers insurance, laundry, grounds maintenance, parking, pest control, sewer, snow removal, and water; Community amenities include pool, tennis courts, marina, golf, public transportation, recreation area, shopping, restaurants, highway access, and proximity to hospital and schools

Exterior

• Parking: Assigned parking (2 spaces); No garage
• Utilities: 100 amp electric service; Public water (water tap fee applies); Public sewer
• Home design: Condominium (Riverview Condominiums); Single-story; Entry level: 3
• Construction: Drywall and masonry construction; Concrete perimeter foundation
• Exterior features: Paved driveway

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Laminate; Vinyl; Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard electric heating; Wall cooling unit(s)
• Interior features: Unfinished basement; Laminate, vinyl, and carpet flooring
• Laundry & utility: Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (11.8% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $146k (11.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lincoln (suburban): math 38% / reading 48% proficiency, ranked #13 of 39 in RI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 93 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 38 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $130k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: major wind risk, 68% 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 $145,608 (11.8% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.08% ✓
• Cap rate: 5.49%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• GRM: 7.7

CMA / ARV

• ARV (median comp): $191,462
• List price: $165,000
• Delta: -13.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.8%
• Equity multiple: 0.28×
• Total profit: $-33,470
• Equity at exit: $24,602

10-year hold

• IRR: -13.7%
• Equity multiple: 0.20×
• Total profit: $-37,096
• Equity at exit: $14,266

Cash invested: $46,200 (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 02865

• Active inventory: 93
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,782 high
• Mortgage (P&I): −$865
• Tax from tax record: −$178 /mo · $2,132/yr
• Insurance: −$69
• HOA: −$406
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-110

Break-even live

Break-even rent $1,921

Max offer price $145,608

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-63	+0% $-110	+5% $-156	+10% $-203
Rent	-10% $-251	-5% $-180	+0% $-110	+5% $-39	+10% $31
Rate	-1.0pp $-27	-0.5pp $-68	base $-110	+0.5pp $-153	+1.0pp $-196

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1624 Lonsdale Ave Lincoln, RI	1.0	1.0	550	$1,500	$2.73	44d	1	0.11mi
9 River St Cumberland, RI	2.0	1.0	850	$1,650	$1.94	24d	1	0.42mi
88 Pleasant St Unit 2 Lincoln, RI	2.0	1.0	912	$2,050	$2.25	44d	1	0.48mi
105 Arnold St Unit 1 Lincoln, RI	2.0	1.0	900	$1,900	$2.11	44d	1	0.49mi
25 Cabot St Lincoln, RI	1.0	1.0	691	$1,750	$2.53	44d	1	0.56mi
495 Broad St Unit 2 Cumberland, RI	3.0	1.0	1000	$1,850	$1.85	44d	1	0.57mi
129 Mill St #1 Cumberland, RI	2.0	1.5	1040	$2,500	$2.40	2d	1	0.97mi
96 Walnut Ln Unit B Attleboro, MA	2.0	1.0	1000	$2,200	$2.20	22d	1	1.19mi
63 W Carpenter St Unit 2F Attleboro, MA	3.0	1.0	1000	$2,500	$2.50	2d	1	1.22mi
63 W Carpenter St Unit 2R Attleboro, MA	2.0	1.0	600	$1,800	$3.00	44d	1	1.22mi
37 Lawn St Unit 37 Attleboro, MA	2.0	1.0	800	$1,895	$2.37	44d	1	1.22mi
34 Fletcher St Unit 4 Central Falls, RI	2.0	1.0	550	$1,600	$2.91	18d	1	1.29mi
664 Dexter St Unit 8 Central Falls, RI	2.0	1.0	900	$1,500	$1.67	3d	1	1.39mi

HOA detail condo

• Monthly dues: $406 · $4,872/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $165,000 Active 38 DOM
2. 2026-06-17
   days on market $165,000 Active 37 DOM
3. 2026-06-16
   days on market $165,000 Active 36 DOM
4. 2026-06-15
   days on market $165,000 Active 35 DOM
5. 2026-06-13
   days on market $165,000 Active 33 DOM
6. 2026-06-13
   days on market $165,000 Active 32 DOM
7. 2026-06-09
   days on market $165,000 Active 29 DOM
8. 2026-06-08
   days on market $165,000 Active 28 DOM
9. 2026-06-07
   days on market $165,000 Active 27 DOM
10. 2026-06-05
    days on market $165,000 Active 24 DOM
11. 2026-06-03
    days on market $165,000 Active 23 DOM
12. 2026-06-02
    days on market $165,000 Active 22 DOM
13. 2026-06-01
    days on market $165,000 Active 21 DOM
14. 2026-05-31
    days on market $165,000 Active 20 DOM
15. 2026-05-07
    listed $165,000 Active 525-char remark
16. 2023-11-19
    historical $1,500
17. 2023-10-06
    listed $1,500
18. 2007-03-10
    historical
19. 2006-11-16
    soldstatus $130,000
20. 2006-03-29
    listed $154,900

ⓘ 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: $2,132 · $178/mo
• Projected year-2 tax: $2,411 · $201/mo
• Expected delta: +$279/yr (+$23/mo · 13.1%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $21,386
• − Mortgage interest: −$9,243
• − Property taxes: −$2,132
• − Insurance: −$825
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − HOA: −$4,872
• − Depreciation: −$4,800
• Taxable loss: −$3,907
• Est. tax savings @ 24.0%: +$938
• After-tax cash flow: $-380/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: Lincoln
• NCES district ID: 4400570
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $69,500
• Composite: 38.81/100
• National rank: #4115
• State rank: #13 of 39 in RI

Livability — Lincoln

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 18,033

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 (82%)
• Race & ethnicity: White 82% Two or more races 9% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 11% Russian 7% Romanian 4%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 84% English-only · Other Indo-European 7% Spanish 3% Chinese 2%

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: ▼ -332.01%
• Current HPI: 325.7543
• 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

+6.5% since first listed

8 events — show timeline

• 2026-05-25 Relisted — RIS
• 2026-05-22 Pending — RIS
• 2026-05-07 Listed $165,000 RIS
• 2023-11-19 Rental Removed $1,500 RIS
• 2023-10-06 Listed for Rent $1,500 RIS
• 2007-03-10 Listing Removed — RIS
• 2006-11-16 Sold (Public Records) $130,000 Public Records
• 2006-03-29 Listed $154,900 RIS

Property tax history

+1.8%/yr

Latest (2025): $2,132 · -11.0% YoY. Source: county tax records.