443 Dyer Ave · Cranston, RI 02920

$145,000

2 bd · 1.0 ba · 600 sqft · Manufactured · 38 Days on market

Built 2008 1.20 ac lot

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Must-See Home in the Heart of Cranston! Discover this beautifully updated two-bedroom manufactured home, ideally situated near a corner lot for added space and privacy. Enjoy two spacious decks, perfect for relaxing or entertaining, and a freshly painted interior complemented by brand-new flooring and carpeting throughout. The updated bathroom features new shower doors and commode. The open-concept layout showcases cathedral ceilings in the kitchen, dining area, and living room, creating a bright, airy atmosphere. A versatile loft area overlooks the main living space perfect for a home office, guest room, or cozy retreat. This home is equipped with a brand-new HVAC system, plumbing, and gas lines, ensuring year-round comfort, efficiency, and peace of mind. Conveniently located just minutes from shopping centers, restaurants, major highways, and schools, this move-in-ready home perfectly combines comfort, style, and convenience.

Key facts

• 1.2 acre lot
• 2 parking spots
• Built 2008

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.3% in Cranston — 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 87/100 on livability (#1 in RI, #323 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Cranston (suburban): math 16% / reading 35% proficiency, ranked #23 of 39 in RI (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.4%/yr); 124 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

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 + 2.4% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 29y 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 $50k; list at $145k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
4. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
5. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 1.30% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.31%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.42% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.15×
• Total profit: $6,273
• Equity at exit: $21,620

10-year hold

• IRR: 13.0%
• Equity multiple: 2.01×
• Total profit: $40,853
• Equity at exit: $12,537

Cash invested: $40,600 (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 02920

• Rents YoY: 2.4%
• Active inventory: 124
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,881 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $484

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 69%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
380 Farmington Ave Unit 2R Cranston, RI	1.0	1.0	600	$1,650	$2.75	14d	1	0.54mi
50 Murray St Unit 15 Providence, RI	2.0	1.0	620	$2,300	$3.71	17d	1	0.61mi
77 Governor St Unit 4 Cranston, RI	1.0	1.0	578	$1,550	$2.68	23d	1	0.64mi
1303 Cranston St Unit 2A Cranston, RI	1.0	1.0	678	$1,650	$2.43	23d	1	0.74mi
11 Dart St Apt 7 Cranston, RI	1.0	1.0	700	$1,695	$2.42	43d	1	1.32mi

Listing history 43 events

1. 2026-04-22
   status Active 943-char remark

   Show marketing remark (943 chars)

   Must-See Home in the Heart of Cranston! Discover this beautifully updated two-bedroom manufactured home, ideally situated near a corner lot for added space and privacy. Enjoy two spacious decks, perfect for relaxing or entertaining, and a freshly painted interior complemented by brand-new flooring and carpeting throughout. The updated bathroom features new shower doors and commode. The open-concept layout showcases cathedral ceilings in the kitchen, dining area, and living room, creating a bright, airy atmosphere. A versatile loft area overlooks the main living space perfect for a home office, guest room, or cozy retreat. This home is equipped with a brand-new HVAC system, plumbing, and gas lines, ensuring year-round comfort, efficiency, and peace of mind. Conveniently located just minutes from shopping centers, restaurants, major highways, and schools, this move-in-ready home perfectly combines comfort, style, and convenience.

2. 2026-04-16
   historical 943-char remark

   Show marketing remark (943 chars)

   Must-See Home in the Heart of Cranston! Discover this beautifully updated two-bedroom manufactured home, ideally situated near a corner lot for added space and privacy. Enjoy two spacious decks, perfect for relaxing or entertaining, and a freshly painted interior complemented by brand-new flooring and carpeting throughout. The updated bathroom features new shower doors and commode. The open-concept layout showcases cathedral ceilings in the kitchen, dining area, and living room, creating a bright, airy atmosphere. A versatile loft area overlooks the main living space perfect for a home office, guest room, or cozy retreat. This home is equipped with a brand-new HVAC system, plumbing, and gas lines, ensuring year-round comfort, efficiency, and peace of mind. Conveniently located just minutes from shopping centers, restaurants, major highways, and schools, this move-in-ready home perfectly combines comfort, style, and convenience.

3. 2026-03-26
   listed $145,000 943-char remark

   Show marketing remark (943 chars)

   Must-See Home in the Heart of Cranston! Discover this beautifully updated two-bedroom manufactured home, ideally situated near a corner lot for added space and privacy. Enjoy two spacious decks, perfect for relaxing or entertaining, and a freshly painted interior complemented by brand-new flooring and carpeting throughout. The updated bathroom features new shower doors and commode. The open-concept layout showcases cathedral ceilings in the kitchen, dining area, and living room, creating a bright, airy atmosphere. A versatile loft area overlooks the main living space perfect for a home office, guest room, or cozy retreat. This home is equipped with a brand-new HVAC system, plumbing, and gas lines, ensuring year-round comfort, efficiency, and peace of mind. Conveniently located just minutes from shopping centers, restaurants, major highways, and schools, this move-in-ready home perfectly combines comfort, style, and convenience.

4. 2026-03-01
   historical
5. 2025-11-21
   listed $160,000 Active
6. 2024-08-02
   soldstatus $50,000 Closed
7. 2024-07-22
   status Pending
8. 2024-07-17
   listed $63,500 Active
9. 2019-09-20
   price $23,900
10. 2017-01-12
    soldstatus $35,000 Sold
11. 2016-12-08
    status Pending
12. 2016-12-02
    status Active - Back on Market
13. 2016-11-08
    price $19,000
14. 2016-10-31
    status Pending
15. 2016-09-26
    price $39,900
16. 2016-09-24
    historical
17. 2016-07-24
    price $44,900
18. 2016-06-20
    listed $49,900 Active - New
19. 2016-03-23
    listed $25,900 Active - New
20. 2013-12-19
    price $43,000
21. 2013-12-19
    price $57,000
22. 2012-09-08
    historical
23. 2012-01-05
    listed $48,000
24. 2011-11-22
    historical
25. 2011-05-21
    listed $58,000
26. 2011-05-18
    historical
27. 2010-11-23
    listed $64,900
28. 2009-05-01
    soldstatus $28,000
29. 2009-04-16
    historical
30. 2009-03-27
    listed $28,000
31. 2007-01-23
    soldstatus $50,000
32. 2006-12-15
    historical
33. 2006-10-05
    listed $54,900
34. 2006-05-30
    historical
35. 2006-05-26
    soldstatus $17,000
36. 2005-08-29
    listed $34,900
37. 1999-07-27
    historical
38. 1998-09-03
    listed $20,000
39. 1998-03-26
    historical
40. 1997-09-26
    listed $13,000
41. 1997-06-04
    soldstatus $10,000
42. 1997-05-31
    historical
43. 1997-04-29
    listed $14,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌡 Heat 5/10 Major
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,575
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,806
• − Management: −$1,806
• − Depreciation: −$4,218
• Taxable income: $3,722
• Est. tax owed @ 24.0%: −$893
• After-tax cash flow: $4,916/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: Cranston
• NCES district ID: 4400240
• Math proficiency: 16% ▼ -11.00%
• Reading proficiency: 35% ▼ -7.00%
• Median HH income: $60,070
• Composite: 23.36/100
• National rank: #7910
• State rank: #23 of 39 in RI

Livability — Cranston

• Score: 87/100
• State rank: #1
• US rank: #323

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cranston, RI
• County: Providence County · 548,917 people
• City population: 72,803
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 37,155
• Household income: $80,717
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 985.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 18% Two or more races 8% Asian 7% Black 7%
• Hispanic origin (detail): Puerto Rican 4% Dominican 6%
• Common ancestry: Lithuanian 6% Russian 5% Slovak 2%
• Foreign-born: 16% · Canada, China
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 5% French/Haitian/Cajun 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: ▼ -449.22%
• Current HPI: 334.2336
• Rent YoY: ▲ 2.42%
• 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

+873.2% since first listed

43 events — show timeline

• 2026-04-22 Relisted — RIS
• 2026-04-16 Listing Removed — RIS
• 2026-03-26 Listed $145,000 RIS
• 2026-03-01 Listing Removed — RIS
• 2025-11-21 Listed $160,000 RIS
• 2024-08-02 Sold (MLS) $50,000 RIS
• 2024-07-22 Pending — RIS
• 2024-07-17 Listed $63,500 RIS
• 2019-09-20 Price Changed $23,900 RIS
• 2017-01-12 Sold (MLS) $35,000 RIS
• 2016-12-08 Pending — RIS
• 2016-12-02 Relisted — RIS
• 2016-11-08 Price Changed $19,000 RIS
• 2016-10-31 Pending — RIS
• 2016-09-26 Price Changed $39,900 RIS
• 2016-09-24 Listing Removed — RIS
• 2016-07-24 Price Changed $44,900 RIS
• 2016-06-20 Listed $49,900 RIS
• 2016-03-23 Listed $25,900 RIS
• 2013-12-19 Price Changed $43,000 RIS
• 2013-12-19 Price Changed $57,000 RIS
• 2012-09-08 Listing Removed — RIS
• 2012-01-05 Listed $48,000 RIS
• 2011-11-22 Listing Removed — RIS
• 2011-05-21 Listed $58,000 RIS
• 2011-05-18 Listing Removed — RIS
• 2010-11-23 Listed $64,900 RIS
• 2009-05-01 Sold (MLS) $28,000 RIS
• 2009-04-16 Listing Removed — RIS
• 2009-03-27 Listed $28,000 RIS
• 2007-01-23 Sold (MLS) $50,000 RIS
• 2006-12-15 Listing Removed — RIS
• 2006-10-05 Listed $54,900 RIS
• 2006-05-30 Listing Removed — RIS
• 2006-05-26 Sold (MLS) $17,000 RIS
• 2005-08-29 Listed $34,900 RIS
• 1999-07-27 Listing Removed — RIS
• 1998-09-03 Listed $20,000 RIS
• 1998-03-26 Listing Removed — RIS
• 1997-09-26 Listed $13,000 RIS
• 1997-06-04 Sold (MLS) $10,000 RIS
• 1997-05-31 Listing Removed — RIS
• 1997-04-29 Listed $14,900 RIS