70 74 Lincoln Ave · Central Falls, RI 02863

$1,050,000

12 bd · 6.0 ba · 7,488 sqft · MultiFamily · 91 Days on market

Built 1920 4,792 sqft lot $140/sqft · 27% above area Est $828k · 27% 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 +23.7/30.0
• DSCR +7.6/10.0
• Appreciation +7.3/10.0
• 1% rule +5.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Incredible investment opportunity in Central Falls, RI featuring two well-maintained three-unit buildings on one lot. This rare offering provides a total of six units, making it an ideal addition to any investor's portfolio. The properties have been well cared for and offer strong income potential in a high-demand rental market. Off-street parking adds valuable convenience for tenants, a sought-after feature in this area. Located in a prime Central Falls location with easy access to major highways, public transportation, shopping, dining, and everyday amenities, this property offers both stability and long-term upside. Whether you're expanding your portfolio or securing a multi-building asset in a strategic location, this is a standout opportunity. Strong rental appeal, convenient setting, and solid condition make this a smart investment choice. Don't miss out on this exceptional chance to own a high-performing multi-family property.

Key facts

• Off-street parking
• Prime location
• Total of six units

Tags

• TWO WELL-MAINTAINED BUILDINGS
• TOTAL OF SIX UNITS
• STRONG INCOME POTENTIAL
• OFF-STREET PARKING
• PRIME LOCATION
• EASY ACCESS TO MAJOR HIGHWAYS

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $334/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $1.05M).
• Recommended offer: $956k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 5.2% in Central Falls — 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 66/100 on livability (#21 in RI) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing B; Watch: schools F, amenities F, commute F.
• Central Falls (suburban): math 2% / reading 8% proficiency, ranked #38 of 39 in RI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 33 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• In year one you build about $55k of equity ($7k loan paydown + $48k appreciation (4.6% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $294k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$89k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($956k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $246k; list at $1.05M implies a 327% 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, 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 $955,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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 1920 — 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: 1.06% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.19%
• DSCR: 1.36
• GRM: 7.8

CMA / ARV

• ARV (median comp): $828,005
• List price: $1,050,000
• Delta: 26.81%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.17×
• Total profit: $344,393
• Equity at exit: $568,087

10-year hold

• IRR: 19.1%
• Equity multiple: 4.21×
• Total profit: $943,182
• Equity at exit: $958,864

Cash invested: $294,000 (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 02863

• Home prices YoY: 1.2%
• Active inventory: 33
• Price-to-rent: 47.0×

Monthly cashflow live

• Estimated rent: $11,164 high
• Mortgage (P&I): −$5,506
• Tax from tax record: −$869 /mo · $10,429/yr
• Insurance: −$438
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,344
• Net cashflow: $2,007

Break-even live

Break-even rent $8,624

Max offer price $1,050,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$11,166
Total (6 units)			$11,164

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: $262,500
• Closing costs: $31,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   status $1,050,000 Pending 91 DOM
2. 2026-06-17
   days on market $1,050,000 Active 91 DOM
3. 2026-06-16
   days on market $1,050,000 Active 90 DOM
4. 2026-06-15
   days on market $1,050,000 Active 89 DOM
5. 2026-06-13
   days on market $1,050,000 Active 87 DOM
6. 2026-06-13
   days on market $1,050,000 Active 86 DOM
7. 2026-06-09
   days on market $1,050,000 Active 83 DOM
8. 2026-06-08
   days on market $1,050,000 Active 82 DOM
9. 2026-06-07
   days on market $1,050,000 Active 81 DOM
10. 2026-06-05
    days on market $1,050,000 Active 78 DOM
11. 2026-06-03
    days on market $1,050,000 Active 77 DOM
12. 2026-06-02
    days on market $1,050,000 Active 76 DOM
13. 2026-06-01
    days on market $1,050,000 Active 75 DOM
14. 2026-05-31
    days on market $1,050,000 Active 74 DOM
15. 2026-03-18
    historical

    Show marketing remark (947 chars)

    Incredible investment opportunity in Central Falls, RI featuring two well-maintained three-unit buildings on one lot. This rare offering provides a total of six units, making it an ideal addition to any investor's portfolio. The properties have been well cared for and offer strong income potential in a high-demand rental market. Off-street parking adds valuable convenience for tenants, a sought-after feature in this area. Located in a prime Central Falls location with easy access to major highways, public transportation, shopping, dining, and everyday amenities, this property offers both stability and long-term upside. Whether you're expanding your portfolio or securing a multi-building asset in a strategic location, this is a standout opportunity. Strong rental appeal, convenient setting, and solid condition make this a smart investment choice. Don't miss out on this exceptional chance to own a high-performing multi-family property.

16. 2026-03-18
    listed $1,050,000 Active 947-char remark

    Show marketing remark (947 chars)

    Incredible investment opportunity in Central Falls, RI featuring two well-maintained three-unit buildings on one lot. This rare offering provides a total of six units, making it an ideal addition to any investor's portfolio. The properties have been well cared for and offer strong income potential in a high-demand rental market. Off-street parking adds valuable convenience for tenants, a sought-after feature in this area. Located in a prime Central Falls location with easy access to major highways, public transportation, shopping, dining, and everyday amenities, this property offers both stability and long-term upside. Whether you're expanding your portfolio or securing a multi-building asset in a strategic location, this is a standout opportunity. Strong rental appeal, convenient setting, and solid condition make this a smart investment choice. Don't miss out on this exceptional chance to own a high-performing multi-family property.

17. 2026-02-24
    listed $1,250,000 Active
18. 2016-09-29
    soldstatus $246,000
19. 2011-02-22
    soldstatus $120,000
20. 2004-12-15
    soldstatus $383,000
21. 2004-12-15
    soldstatus $383,000

ⓘ 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: $10,429 · $869/mo
• Projected year-2 tax: $13,772 · $1,148/mo
• Expected delta: +$3,343/yr (+$279/mo · 32.1%)

ⓘ 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 5/10 Major 7 d/yr ≥98°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: $133,968
• − Mortgage interest: −$58,816
• − Property taxes: −$10,429
• − Insurance: −$5,250
• − Repairs & maintenance: −$10,717
• − Management: −$10,717
• − Depreciation: −$30,545
• Taxable income: $7,492
• Est. tax owed @ 24.0%: −$1,798
• After-tax cash flow: $22,282/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: Central Falls
• NCES district ID: 4400120
• Math proficiency: 2% ▼ -6.00%
• Reading proficiency: 8% ▼ -5.00%
• Median HH income: $30,478
• Composite: 3.59/100
• National rank: #10071
• State rank: #38 of 39 in RI

Livability — Central Falls

• Score: 66/100
• State rank: #21
• US rank: #11321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central Falls, RI
• County: Providence County · 548,917 people
• City population: 22,701
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 22,701
• Household income: $49,285
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 1380.0

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: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 29% White 16% Black 8%
• Hispanic origin (detail): Mexican 6% Puerto Rican 15% Dominican 7%
• Common ancestry: Lithuanian 4% Russian 4% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 29% English-only · Spanish 62% Other Indo-European 5% French/Haitian/Cajun 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: ▲ 4.58%
• Current HPI: 373.2598
• Rent YoY: —
• 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

+174.2% since first listed

7 events — show timeline

• 2026-03-18 Listed $1,050,000 RIS
• 2026-03-18 Listing Removed — RIS
• 2026-02-24 Listed $1,250,000 RIS
• 2016-09-29 Sold (Public Records) $246,000 Public Records
• 2011-02-22 Sold (Public Records) $120,000 Public Records
• 2004-12-15 Sold (Public Records) $383,000 Public Records
• 2004-12-15 Sold (Public Records) $383,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $10,429 · +10.1% YoY. Source: county tax records.