20 Oakton St · Woonsocket, RI 02895

$299,000

5 bd · 2.0 ba · 2,160 sqft · MultiFamily public records · 6 Days on market

Built 1920 5,227 sqft lot Est $514k · 42% 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Rent growth +4.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• 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 MLS

Two family home near most conveniences. Easy highway access to Route 146. Separate electric and heat. Own your own home and have an addition rent to help with expenses. Call today for an appointment.

Key facts

• Multifamily
• Cash flow
• Small fenced-in yard

Tags

• SMALL FENCED-IN YARD
• INVESTMENT OPPORTUNITY
• CASH FLOW
• MULTIFAMILY

Property features AI

Finance

• Financial info: Operating expenses reported at $4,600

Exterior

• Parking: No garage; Five off-street parking spaces (total)
• Utilities: Public water; Sewer connected; 100 amp electric service
• Home design: One building with two total units; Above-grade finished area approximately 2,160
• Construction: Clapboard and drywall construction
• Exterior features: Lot approximately 0.12 acres

Interior

• Flooring: Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas baseboard heating
• Interior features: Vinyl flooring; Unfinished full basement with both interior and exterior entry; One fireplace
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Cap rate 8.9% vs local median 3.3% in Woonsocket — 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 65/100 on livability (#24 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, schools D-, amenities F.
• Woonsocket (suburban): math 5% / reading 14% proficiency, ranked #37 of 39 in RI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 163 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 $3,425/mo this rent would consume 67% of the median local household income ($61k/yr) (locally 2658% 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 $9k 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 + 8.0% rent growth), your $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $95k; list at $299k implies a 215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $299,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.15% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.41%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $514,080
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
97 Warwick St	0.16mi	4/2.0 (-1)	2,328 (+8%)	6mo	$520,000	$223	69
30 Ormond St	0.19mi	5/3.0	2,430 (+12%)	18mo	$475,000	$195	51
604 606 Providence St	0.35mi	6/3.0 (+1)	2,464 (+14%)	4mo	$590,000	$239	48
38 Lincoln St	0.62mi	6/2.0 (+1)	1,976 (-8%)	19mo	$470,000	$238	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.14×
• Total profit: $11,509
• Equity at exit: $44,582

10-year hold

• IRR: 17.2%
• Equity multiple: 2.75×
• Total profit: $146,420
• Equity at exit: $25,852

Cash invested: $83,720 (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 02895

• Rents YoY: 9.2%
• Active inventory: 163
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $3,425 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$357 /mo · $4,279/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $657

Break-even live

Break-even rent $2,594

Max offer price $299,000

Occupancy floor 76%

Sensitivity live

Price	-10% $826	-5% $741	+0% $657	+5% $572	+10% $487
Rent	-10% $386	-5% $521	+0% $657	+5% $792	+10% $927
Rate	-1.0pp $807	-0.5pp $733	base $657	+0.5pp $579	+1.0pp $500

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,424
Total (2 units)			$3,425

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 High St Unit 1R Woonsocket, RI	4.0	2.0	1750	$2,195	$1.25	15d	1	1.00mi
335 Blackstone St Woonsocket, RI	6.0	2.0	2400	$2,900	$1.21	2d	1	1.25mi

Listing history 6 events

1. 2026-06-18
   days on market $299,000 Active 6 DOM
2. 2026-06-17
   days on market $299,000 Active 5 DOM
3. 2026-06-16
   days on market $299,000 Active 4 DOM
4. 2026-06-15
   days on market $299,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $299,000 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: $4,279 · $357/mo
• Projected year-2 tax: $4,576 · $381/mo
• Expected delta: +$297/yr (+$25/mo · 6.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $41,100
• − Mortgage interest: −$16,749
• − Property taxes: −$4,279
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,288
• − Management: −$3,288
• − Depreciation: −$8,698
• Taxable income: $3,303
• Est. tax owed @ 24.0%: −$793
• After-tax cash flow: $7,086/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: Woonsocket
• NCES district ID: 4401200
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $37,757
• Composite: 8.01/100
• National rank: #9923
• State rank: #37 of 39 in RI

Livability — Woonsocket

• Score: 65/100
• State rank: #24
• US rank: #12968

Category grades

Amenities F Commute F Cost of living A Crime C- Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, RI
• County: Providence County · 548,917 people
• City population: 43,521
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 43,521
• Household income: $61,059
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2658.0

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 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 13% Romanian 3% Russian 3%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 17% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -431.80%
• Current HPI: 357.8858
• Rent YoY: ▲ 9.15%
• 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

+139.4% since first listed

4 events — show timeline

• 2026-06-12 Listed $299,000 RIS
• 2017-10-02 Sold (MLS) $95,000 RIS
• 2016-09-14 Pending — RIS
• 2016-04-13 Listed $124,900 RIS

Property tax history

+1.0%/yr

Latest (2025): $4,279 · +11.4% YoY. Source: county tax records.