974 Manton Ave · Providence, RI 02909

$350,000

5 bd · 1.5 ba · 1,483 sqft · SingleFamily public records · 7 Days on market

Built 1900 7,405 sqft lot Est $365k · at est.

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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).

• Cash flow +15.4/30.0
• ARV discount +9.3/15.0
• DSCR +4.7/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT STARTER HOME OR INVESTMENT OPPORTUNITY! SOLID 4-5 BED BUNGALO, 2 BATHS, LIVING ROOM/DINING AREA, NEW VINYL SIDING, NEW ROOF, NEW OIL TANK, PART FINISHED LOWER W/ WALKOUT, 2 CAR DETACHED GARAGE! SELLER TO CREDIT $5,000 TO BUYER AT CLOSING!!!

Key facts

• Strong curb appeal
• Prime location
• Spacious layout

Tags

• PRIME LOCATION
• STRONG CURB APPEAL
• SPACIOUS LAYOUT

Property features AI

Exterior

• Parking: Detached garage (1 covered space, 1 total parking space)
• Utilities: Separate electric meters; Public water; Public sewer
• Home design: 2-story home; Attached property
• Construction: Drywall and wood siding exterior; Concrete perimeter foundation
• Exterior features: Fenced yard

Interior

• Kitchen: Water heater (listed under equipment)
• Bedrooms: Bedroom 1 (First level); Bedroom 2 (First level); Bedroom 3 (First level); Bedroom 4 (Second level); Bedroom 5 (Second level)
• Flooring: Ceramic tile; Hardwood; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Gas heating; Window cooling units
• Interior features: Storm door(s); Interior steps; Tub with shower

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $324k (7.5% below list).
• Recommended offer: $324k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 (+3.7%/yr); 132 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,239/mo this rent would consume 60% of the median local household income ($65k/yr) (locally 2000% 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 $2k of loan paydown is wiped out by about $10k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 26y 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 $28k; list at $350k implies a 1173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $323,865 (7.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.63%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $364,818
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Archer Ave	0.42mi	4/1.5 (-1)	1,622 (+9%)	8mo	$290,000	$179	53
31 Becker Ave	0.36mi	4/1.5 (-1)	1,664 (+12%)	23mo	$410,000	$246	39

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 · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-45,954
• Equity at exit: $52,186

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-19,604
• Equity at exit: $30,262

Cash invested: $98,000 (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 02909

• Home prices YoY: -13.3%
• Rents YoY: 3.7%
• Active inventory: 132
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,239 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$444 /mo · $5,330/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$680
• Net cashflow: $133

Break-even live

Break-even rent $3,070

Max offer price $350,000

Occupancy floor 91%

Sensitivity live

Price	-10% $331	-5% $232	+0% $133	+5% $34	+10% $-65
Rent	-10% $-123	-5% $5	+0% $133	+5% $261	+10% $389
Rate	-1.0pp $309	-0.5pp $222	base $133	+0.5pp $42	+1.0pp $-50

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
610 Killingly St #1 Johnston, RI	4.0	2.0	1800	$2,850	$1.58	15d	1	0.41mi
1035 Atwells Ave Unit 2 Providence, RI	4.0	2.0	1300	$2,950	$2.27	24d	1	1.02mi

Listing history 7 events

1. 2026-06-09
   days on market $350,000 Active 7 DOM
2. 2026-06-08
   days on market $350,000 Active 6 DOM
3. 2026-06-07
   days on market $350,000 Active 5 DOM
4. 2026-06-05
   remarks 699-char remark
5. 2026-06-05
   days on market $350,000 Active 2 DOM
6. 2026-06-02
   remarks 475-char remark
7. 2026-06-02
   listed $350,000 Active 1 DOM

ⓘ 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: $5,330 · $444/mo
• Projected year-2 tax: $5,518 · $460/mo
• Expected delta: +$188/yr (+$16/mo · 3.5%)

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

Taxation est. · year 1

• Rental income: $38,864
• − Mortgage interest: −$19,605
• − Property taxes: −$5,330
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,109
• − Management: −$3,109
• − Depreciation: −$10,182
• Taxable loss: −$4,222
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $2,610/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): 46,014
• Household income: $64,649
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 2000.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 23% White 22% Black 12% Asian 2% Native American 2%
• Hispanic origin (detail): Puerto Rican 12% Dominican 23%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica
• Languages at home: 43% English-only · Spanish 50% Other Indo-European 2% Other Asian/Pacific 1%

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: ▼ -72.78%
• Current HPI: 474.9956
• Rent YoY: ▲ 3.68%
• 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

+324.2% since first listed

16 events — show timeline

• 2026-06-02 Listed $350,000 RIS
• 2019-09-20 Price Changed $167,000 RIS
• 2016-11-08 Price Changed $81,000 RIS
• 2013-12-19 Price Changed $50,500 RIS
• 2013-12-19 Price Changed $129,900 RIS
• 2011-11-18 Sold (MLS) $27,500 RIS
• 2011-06-09 Listed $73,500 RIS
• 2010-04-20 Listing Removed — RIS
• 2009-09-22 Listed $159,900 RIS
• 2008-03-26 Sold (MLS) $146,000 RIS
• 2008-01-23 Listing Removed — RIS
• 2007-08-05 Listed $174,900 RIS
• 2007-07-31 Listing Removed — RIS
• 2007-07-24 Listed $179,900 RIS
• 2001-01-31 Listing Removed — RIS
• 2000-07-18 Listed $82,500 RIS

Property tax history

+2.3%/yr

Latest (2025): $5,330 · +17.6% YoY. Source: county tax records.