166 Bath St · Providence, RI 02908

$640,000

6 bd · 3.0 ba · 2,542 sqft · MultiFamily public records · 79 Days on market

Built 1880 5,000 sqft lot $252/sqft · 16% above area Est $553k · 16% over

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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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +6.3/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

well maintained 3 family in Providence! First floor is already vacant and ready to move in! Property has separate utilities for each unit including separate electrical meters and heating systems. Off street parking for 3+ cars, a detached driveway and a fenced in yard! A little bit of TLC would go a long way here. Propery is being sold "as is, as seen". All 2 bedroom units but 1st and 2nd are being used as a 3 bedroom.

Key facts

• Heating systems
• Separate utilities
• Off street parking

Tags

• SEPARATE UTILITIES
• SEPARATE ELECTRICAL METERS
• HEATING SYSTEMS
• OFF STREET PARKING
• DETACHED DRIVEWAY
• FENCED IN YARD

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $640k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $503/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $640k).
• Recommended offer: $602k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+5.5%/yr); 161 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $7,247/mo this rent would consume 119% of the median local household income ($73k/yr) (locally 1561% 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 $4k of loan paydown is wiped out by about $19k 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 + 5.5% rent growth), your $179k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($602k) is reasonable based on typical stale-listing flexibility.
• 5 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 $78k; list at $640k implies a 722% 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 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $601,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.13% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

• ARV (median comp): $552,997
• List price: $640,000
• Delta: 15.73%
• Verdict: OVERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $10,850
• Equity at exit: $95,426

10-year hold

• IRR: 13.4%
• Equity multiple: 2.19×
• Total profit: $212,556
• Equity at exit: $55,336

Cash invested: $179,200 (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 02908

• Home prices YoY: -27.1%
• Rents YoY: 5.5%
• Active inventory: 161
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $7,247 high
• Mortgage (P&I): −$3,356
• Tax from tax record: −$592 /mo · $7,102/yr
• Insurance: −$267
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,522
• Net cashflow: $1,510

Break-even live

Break-even rent $5,335

Max offer price $640,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$7,248
Total (3 units)			$7,247

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: $160,000
• Closing costs: $19,200
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $640,000 Active 79 DOM
2. 2026-06-17
   days on market $640,000 Active 78 DOM
3. 2026-06-16
   days on market $640,000 Active 77 DOM
4. 2026-06-15
   days on market $640,000 Active 76 DOM
5. 2026-06-13
   days on market $640,000 Active 74 DOM
6. 2026-06-09
   days on market $640,000 Active 70 DOM
7. 2026-06-08
   days on market $640,000 Active 69 DOM
8. 2026-06-07
   pricedays on market $640,000 Active 68 DOM
9. 2026-06-05
   days on market $650,000 Active 65 DOM
10. 2026-06-03
    days on market $650,000 Active 64 DOM
11. 2026-06-02
    days on market $650,000 Active 63 DOM
12. 2026-06-01
    days on market $650,000 Active 62 DOM
13. 2026-05-31
    days on market $650,000 Active 61 DOM
14. 2026-03-31
    listed $650,000 Active 432-char remark

    Show marketing remark (432 chars)

    well maintained 3 family in Providence! First floor is already vacant and ready to move in! Property has separate utilities for each unit including separate electrical meters and heating systems. Off street parking for 3+ cars, a detached driveway and a fenced in yard! A little bit of TLC would go a long way here. Propery is being sold "as is, as seen". All 2 bedroom units but 1st and 2nd are being used as a 3 bedroom.

15. 2008-06-18
    historical
16. 2008-05-11
    listed $275,000
17. 2008-05-10
    historical
18. 2007-12-16
    historical
19. 2007-12-09
    listed $275,000
20. 2007-06-17
    listed $290,000
21. 2001-05-07
    soldstatus $77,900
22. 2001-04-30
    soldstatus $80,000
23. 2001-03-12
    historical
24. 2000-09-22
    listed $79,927
25. 1989-11-16
    soldstatus $108,000

ⓘ 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: $7,102 · $592/mo
• Projected year-2 tax: $8,767 · $731/mo
• Expected delta: +$1,665/yr (+$139/mo · 23.4%)

ⓘ 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 ≥97°F today · 15 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: $86,964
• − Mortgage interest: −$35,850
• − Property taxes: −$7,102
• − Insurance: −$3,200
• − Repairs & maintenance: −$6,957
• − Management: −$6,957
• − Depreciation: −$18,618
• Taxable income: $8,280
• Est. tax owed @ 24.0%: −$1,987
• After-tax cash flow: $16,138/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): 39,500
• Household income: $73,081
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1561.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 33% Two or more races 22% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 16%
• Common ancestry: Swiss 4% Hispanic 3% Russian 3%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 53% English-only · Spanish 36% French/Haitian/Cajun 4% Other Indo-European 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: ▼ -151.12%
• Current HPI: 407.0502
• Rent YoY: ▲ 5.46%
• 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

+501.9% since first listed

12 events — show timeline

• 2026-03-31 Listed $650,000 RIS
• 2008-06-18 Listing Removed — RIS
• 2008-05-11 Listed $275,000 RIS
• 2008-05-10 Listing Removed — RIS
• 2007-12-16 Listing Removed — RIS
• 2007-12-09 Listed $275,000 RIS
• 2007-06-17 Listed $290,000 RIS
• 2001-05-07 Sold (MLS) $77,900 RIS
• 2001-04-30 Sold (Public Records) $80,000 Public Records
• 2001-03-12 Listing Removed — RIS
• 2000-09-22 Listed $79,927 RIS
• 1989-11-16 Sold (Public Records) $108,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $7,102 · +21.6% YoY. Source: county tax records.