190 192 Manton Ave · Providence, RI 02909

$425,000

6 bd · 2.0 ba · 1,716 sqft · MultiFamily public records · 56 Days on market

Built 1870 5,574 sqft lot $248/sqft · 10% below area Est $563k · 25% 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 +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.9/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

2-unit duplex home in the heart of Providence! Each unit features 3 bedrooms and a full bath, perfect for families or investors seeking rental opportunities. Enjoy the privacy of a fenced-in backyard, complete with a deck for outdoor entertainment. Conveniently located near main highway, bus routes, shopping, and dining options. This home is FHA APPROVED, making it a perfect opportunity for first time homebuyers or anyone looking for affordable financing options. Don't miss out contact us today to schedule your private tour and see the potential this property has to offer! Please note that this property does not offer dedicated parking; however, on-street parking is available.

Key facts

• Bus routes
• Shopping
• Dining options

Tags

• FENCED-IN BACKYARD
• DECK FOR OUTDOOR ENTERTAINMENT
• BUS ROUTES
• SHOPPING
• DINING OPTIONS

Property features AI

Finance

• HOA & community: Nearby amenities include highway access, public transportation, shopping, restaurants, sidewalks, hospital access, and schools

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected; 100 amp electric service
• Home design: Two-story multifamily building; Single building with two residential units; Above-grade finished area approximately 2,048
• Construction: Vinyl siding and drywall exterior; Concrete perimeter foundation; Built with standard residential construction
• Exterior features: Deck; Fenced yard

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Two separate three-bedroom units (each unit is 3 bedrooms)
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms total (each unit has 1 full bathroom)
• Heating & cooling: Gas baseboard heating
• Interior features: Bathtub and tub/shower; Interior steps; Full unfinished basement with interior entry
• Laundry & utility: Utility room; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $574/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $5,052/mo this rent would consume 94% 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 $3k of loan paydown is wiped out by about $13k 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 + 3.7% rent growth), your $119k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 21y 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 $69k; list at $425k implies a 516% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $412,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.19% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.57%
• DSCR: 1.51
• GRM: 7.0

CMA / ARV

• ARV (median comp): $563,069
• List price: $425,000
• Delta: -24.52%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.68% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $7,710
• Equity at exit: $63,369

10-year hold

• IRR: 11.9%
• Equity multiple: 1.97×
• Total profit: $115,370
• Equity at exit: $36,746

Cash invested: $119,000 (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: 14.0×

Monthly cashflow live

• Estimated rent: $5,052 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$438 /mo · $5,254/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,061
• Net cashflow: $1,147

Break-even live

Break-even rent $3,600

Max offer price $425,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,388	-5% $1,268	+0% $1,147	+5% $1,027	+10% $907
Rent	-10% $748	-5% $948	+0% $1,147	+5% $1,347	+10% $1,547
Rate	-1.0pp $1,361	-0.5pp $1,256	base $1,147	+0.5pp $1,037	+1.0pp $925

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,052
Total (2 units)			$5,052

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-18
   days on market $425,000 Active 56 DOM
2. 2026-06-17
   days on market $425,000 Active 55 DOM
3. 2026-06-16
   days on market $425,000 Active 54 DOM
4. 2026-06-15
   days on market $425,000 Active 53 DOM
5. 2026-06-13
   days on market $425,000 Active 51 DOM
6. 2026-06-09
   days on market $425,000 Active 47 DOM
7. 2026-06-08
   days on market $425,000 Active 46 DOM
8. 2026-06-07
   days on market $425,000 Active 45 DOM
9. 2026-06-05
   days on market $425,000 Active 42 DOM
10. 2026-06-03
    days on market $425,000 Active 41 DOM
11. 2026-06-02
    days on market $425,000 Active 40 DOM
12. 2026-06-01
    days on market $425,000 Active 39 DOM
13. 2026-05-31
    days on market $425,000 Active 38 DOM
14. 2026-04-23
    listed $425,000 Active 685-char remark
15. 2026-04-22
    historical
16. 2025-12-22
    listed $425,000 Active
17. 2025-12-22
    historical
18. 2025-11-30
    listed $425,000 Active
19. 2016-11-08
    price $229,900
20. 2016-11-08
    price $249,000
21. 2016-09-29
    soldstatus $69,000 Sold
22. 2016-09-19
    status Pending
23. 2016-09-12
    historical
24. 2016-09-10
    status Active - Back on Market
25. 2016-09-05
    status Pending
26. 2016-09-02
    listed $73,500 Active - New
27. 2016-06-30
    status Pending
28. 2016-06-03
    listed $73,500 Active - New
29. 2013-12-19
    price $52,500
30. 2013-02-28
    historical
31. 2012-02-02
    listed $95,000
32. 2008-04-30
    historical
33. 2007-11-03
    listed $209,900
34. 2007-09-04
    historical
35. 2006-11-22
    historical
36. 2006-11-22
    listed $239,900
37. 2006-05-31
    listed $259,900
38. 2005-07-12
    soldstatus $194,000
39. 2005-07-11
    soldstatus $214,000
40. 2005-05-30
    historical
41. 2005-05-12
    listed $249,900

ⓘ 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: $5,254 · $438/mo
• Projected year-2 tax: $6,091 · $508/mo
• Expected delta: +$837/yr (+$70/mo · 15.9%)

ⓘ 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 6/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $60,624
• − Mortgage interest: −$23,807
• − Property taxes: −$5,254
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,850
• − Management: −$4,850
• − Depreciation: −$12,364
• Taxable income: $7,375
• Est. tax owed @ 24.0%: −$1,770
• After-tax cash flow: $11,999/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

+70.1% since first listed

28 events — show timeline

• 2026-04-23 Listed $425,000 RIS
• 2026-04-22 Listing Removed — RIS
• 2025-12-22 Listing Removed — RIS
• 2025-12-22 Listed $425,000 RIS
• 2025-11-30 Listed $425,000 RIS
• 2016-11-08 Price Changed $249,000 RIS
• 2016-11-08 Price Changed $229,900 RIS
• 2016-09-29 Sold (MLS) $69,000 RIS
• 2016-09-19 Pending — RIS
• 2016-09-12 Listing Removed — RIS
• 2016-09-10 Relisted — RIS
• 2016-09-05 Pending — RIS
• 2016-09-02 Listed $73,500 RIS
• 2016-06-30 Pending — RIS
• 2016-06-03 Listed $73,500 RIS
• 2013-12-19 Price Changed $52,500 RIS
• 2013-02-28 Listing Removed — RIS
• 2012-02-02 Listed $95,000 RIS
• 2008-04-30 Listing Removed — RIS
• 2007-11-03 Listed $209,900 RIS
• 2007-09-04 Listing Removed — RIS
• 2006-11-22 Listing Removed — RIS
• 2006-11-22 Listed $239,900 RIS
• 2006-05-31 Listed $259,900 RIS
• 2005-07-12 Sold (Public Records) $194,000 Public Records
• 2005-07-11 Sold (MLS) $214,000 RIS
• 2005-05-30 Listing Removed — RIS
• 2005-05-12 Listed $249,900 RIS

Property tax history

+3.9%/yr

Latest (2025): $5,254 · +17.5% YoY. Source: county tax records.