20 Hurdis St #1 · North Providence, RI 02904

$150,000

1 bd · 1.0 ba · 560 sqft · Condo public records · 128 Days on market

Built 1982 $268/sqft · 15% below area Est $177k · 15% under $268/mo HOA · 15% of rent

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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 +19.8/30.0
• ARV discount +14.3/15.0
• 1% rule +7.1/10.0
• DSCR +6.3/10.0
• Rent growth +4.2/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One-bedroom, one-bath condo in North Providence sold with tenant in place. Garden-level unit with an open kitchen/living area and spacious bedroom. Low condo fee includes heat and hot water. Designated parking, private storage, and easy highway access make this a solid, low-maintenance investment. This condo is non-warrantable please check with lender regarding financing.

Key facts

• Private storage
• Garden-level unit
• Easy highway access

Tags

• GARDEN-LEVEL UNIT
• OPEN KITCHEN LIVING AREA
• DESIGNATED PARKING
• PRIVATE STORAGE
• EASY HIGHWAY ACCESS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• North Providence (suburban): math 20% / reading 37% proficiency, ranked #22 of 39 in RI (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.9%/yr); 151 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 + 6.9% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y 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 $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.21% ✓
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 6.9

CMA / ARV

• ARV (median comp): $176,791
• List price: $150,000
• Delta: -15.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.88% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.87×
• Total profit: $-5,465
• Equity at exit: $22,365

10-year hold

• IRR: 10.9%
• Equity multiple: 2.03×
• Total profit: $43,214
• Equity at exit: $12,969

Cash invested: $42,000 (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 02904

• Rents YoY: 6.9%
• Active inventory: 151
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,816 high
• Mortgage (P&I): −$787
• Tax from tax record: −$140 /mo · $1,679/yr
• Insurance: −$62
• HOA: −$268
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $178

Break-even live

Break-even rent $1,591

Max offer price $150,000

Occupancy floor 85%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Josephine St North Providence, RI	2.0	1.0	712	$1,975	$2.77	3d	2	0.14mi
10 Josephine St North Providence, RI	2.0	1.0	712	$1,900	$2.67	43d	2	0.14mi
10 Josephine St #310 North Providence, RI	2.0	1.0	712	$2,000	$2.81	2d	1	0.14mi
866 Weeden St Pawtucket, RI	2.0	1.0	725	$1,800	$2.48	43d	1	1.13mi
396 Weeden St Pawtucket, RI	1.0–2.0	1.0	700	$1,695	$2.42	3d	4	1.49mi

HOA detail condo

• Monthly dues: $268 · $3,216/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $150,000 Active 128 DOM
2. 2026-06-17
   days on market $150,000 Active 127 DOM
3. 2026-06-16
   days on market $150,000 Active 126 DOM
4. 2026-06-15
   days on market $150,000 Active 125 DOM
5. 2026-06-13
   days on market $150,000 Active 123 DOM
6. 2026-06-09
   days on market $150,000 Active 119 DOM
7. 2026-06-08
   days on market $150,000 Active 118 DOM
8. 2026-06-07
   days on market $150,000 Active 117 DOM
9. 2026-06-05
   days on market $150,000 Active 114 DOM
10. 2026-06-03
    days on market $150,000 Active 113 DOM
11. 2026-06-02
    days on market $150,000 Active 112 DOM
12. 2026-06-01
    days on market $150,000 Active 111 DOM
13. 2026-05-31
    days on market $150,000 Active 110 DOM
14. 2026-02-10
    listed $150,000 Active 374-char remark

    Show marketing remark (374 chars)

    One-bedroom, one-bath condo in North Providence sold with tenant in place. Garden-level unit with an open kitchen/living area and spacious bedroom. Low condo fee includes heat and hot water. Designated parking, private storage, and easy highway access make this a solid, low-maintenance investment. This condo is non-warrantable please check with lender regarding financing.

15. 2024-03-15
    soldstatus $125,000 Closed 410-char remark

    Show marketing remark (410 chars)

    This one-bedroom condo conveniently located in North Providence is a great alternative to renting. Garden level unit with one spacious bedroom, open area includes kitchen and living room and it is in move in condition. Heat and hot water are included in the low condo fee making it very affordable. It also includes a small storage area, designated parking and located near highway access and all conveniences.

16. 2024-03-15
    soldstatus $125,000

    Show marketing remark (410 chars)

    This one-bedroom condo conveniently located in North Providence is a great alternative to renting. Garden level unit with one spacious bedroom, open area includes kitchen and living room and it is in move in condition. Heat and hot water are included in the low condo fee making it very affordable. It also includes a small storage area, designated parking and located near highway access and all conveniences.

17. 2024-01-31
    status Pending 410-char remark

    Show marketing remark (410 chars)

    This one-bedroom condo conveniently located in North Providence is a great alternative to renting. Garden level unit with one spacious bedroom, open area includes kitchen and living room and it is in move in condition. Heat and hot water are included in the low condo fee making it very affordable. It also includes a small storage area, designated parking and located near highway access and all conveniences.

18. 2023-10-25
    listed $145,000 Active 410-char remark

    Show marketing remark (410 chars)

    This one-bedroom condo conveniently located in North Providence is a great alternative to renting. Garden level unit with one spacious bedroom, open area includes kitchen and living room and it is in move in condition. Heat and hot water are included in the low condo fee making it very affordable. It also includes a small storage area, designated parking and located near highway access and all conveniences.

19. 2019-09-20
    price $62,500
20. 2018-12-20
    soldstatus $47,000 Sold
21. 2018-12-20
    soldstatus $47,000
22. 2018-12-08
    status Pending
23. 2018-11-28
    listed $47,000 Active
24. 2014-05-29
    soldstatus $35,000 Sold
25. 2014-05-28
    soldstatus $35,000
26. 2014-03-31
    listed $39,900 Active - New
27. 2008-02-26
    soldstatus $58,700
28. 2008-02-06
    historical
29. 2007-10-17
    listed $74,500
30. 2005-09-01
    soldstatus $113,900
31. 2005-09-01
    soldstatus $113,900
32. 2005-05-17
    historical
33. 2005-05-17
    historical
34. 2005-01-06
    listed $109,900
35. 2005-01-06
    listed $109,900
36. 2005-01-05
    historical
37. 2004-06-15
    listed $109,900

ⓘ 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: $1,679 · $140/mo
• Projected year-2 tax: $2,062 · $172/mo
• Expected delta: +$383/yr (+$32/mo · 22.8%)

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

Taxation est. · year 1

• Rental income: $21,792
• − Mortgage interest: −$8,402
• − Property taxes: −$1,679
• − Insurance: −$750
• − Repairs & maintenance: −$1,743
• − Management: −$1,743
• − HOA: −$3,216
• − Depreciation: −$4,364
• Taxable loss: −$105
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $2,157/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: North Providence
• NCES district ID: 4400780
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 37% ▼ -6.00%
• Median HH income: $50,962
• Composite: 24.99/100
• National rank: #7560
• State rank: #22 of 39 in RI

Livability — North Providence

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

Census & demographics

• County: Providence County · 548,917 people
• City population: 15,653
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 32,531
• Household income: $67,003
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1176.0

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 0.66)
• Race & ethnicity: White 51% Hispanic / Latino 27% Two or more races 16% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 7%
• Common ancestry: Lithuanian 7% Russian 6% Romanian 2%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 64% English-only · Spanish 20% Other Indo-European 5% Other Asian/Pacific 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: ▼ -379.06%
• Current HPI: 363.1386
• Rent YoY: ▲ 6.88%
• 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

+36.5% since first listed

24 events — show timeline

• 2026-02-10 Listed $150,000 RIS
• 2024-03-15 Sold (Public Records) $125,000 Public Records
• 2024-03-15 Sold (MLS) $125,000 RIS
• 2024-01-31 Pending — RIS
• 2023-10-25 Listed $145,000 RIS
• 2019-09-20 Price Changed $62,500 RIS
• 2018-12-20 Sold (Public Records) $47,000 Public Records
• 2018-12-20 Sold (MLS) $47,000 RIS
• 2018-12-08 Pending — RIS
• 2018-11-28 Listed $47,000 RIS
• 2014-05-29 Sold (MLS) $35,000 RIS
• 2014-05-28 Sold (Public Records) $35,000 Public Records
• 2014-03-31 Listed $39,900 RIS
• 2008-02-26 Sold (MLS) $58,700 RIS
• 2008-02-06 Listing Removed — RIS
• 2007-10-17 Listed $74,500 RIS
• 2005-09-01 Sold (MLS) $113,900 RIS
• 2005-09-01 Sold (MLS) $113,900 MLS PIN
• 2005-05-17 Listing Removed — RIS
• 2005-05-17 Listing Removed — MLS PIN
• 2005-01-06 Listed $109,900 RIS
• 2005-01-06 Listed $109,900 MLS PIN
• 2005-01-05 Listing Removed — RIS
• 2004-06-15 Listed $109,900 RIS

Property tax history

+1.5%/yr

Latest (2025): $1,679 · +5.9% YoY. Source: county tax records.