884 Douglas Ave · Providence, RI 02908

$525,000

9 bd · 3.0 ba · 2,823 sqft · MultiFamily public records · 31 Days on market

Built 1910 3,049 sqft 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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

INVESTORS TAKE NOTICE!! GREAT RENTAL AREA, CLOSE TO PC. THE COPPER IS LONG GONE. SOLD (AS IS).

Key facts

• Off street parking
• Desirable location
• Tree lined streets

Tags

• MULTI FAMILY OPPORTUNITY
• STRONG RENTAL POTENTIAL
• OFF STREET PARKING
• DESIRABLE LOCATION
• EASY ACCESS TO SHOPPING
• TREE LINED STREETS

Property features AI

Finance

• Financial info: Property has three income units (multifamily)

Exterior

• Parking: No garage; Total of 4 parking spaces
• Utilities: Sewer connected; Public water connected; Circuit breaker electrical service
• Home design: Multi-unit building with 3 total units in 1 building; Above-grade finished area approximately 3,816
• Construction: Vinyl siding
• Exterior features: Sewer connected; Public water connected

Interior

• Kitchen: Gas water heater
• Bedrooms: Three 3-bedroom units
• Flooring: Ceramic tile; Laminate
• Bathrooms: Three full bathrooms (one per unit)
• Heating & cooling: Gas baseboard heating
• Interior features: Full unfinished basement with interior entry; Ceramic tile and laminate flooring; Total of 15 rooms
• Laundry & utility: Basement provides utility space

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $525k).
• Recommended offer: $509k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 $6,980/mo this rent would consume 115% 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 $16k 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 $147k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($509k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 27y 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 $108k; list at $525k implies a 386% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $509,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.81%
• DSCR: 1.70
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.4%
• Equity multiple: 1.38×
• Total profit: $56,015
• Equity at exit: $78,279

10-year hold

• IRR: 20.5%
• Equity multiple: 2.93×
• Total profit: $284,256
• Equity at exit: $45,392

Cash invested: $147,000 (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 02908

• Home prices YoY: -27.1%
• Rents YoY: 5.5%
• Active inventory: 161
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $6,980 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$606 /mo · $7,274/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,466
• Net cashflow: $1,936

Break-even live

Break-even rent $4,529

Max offer price $525,000

Occupancy floor 67%

Sensitivity live

Price	-10% $2,233	-5% $2,085	+0% $1,936	+5% $1,788	+10% $1,639
Rent	-10% $1,385	-5% $1,660	+0% $1,936	+5% $2,212	+10% $2,488
Rate	-1.0pp $2,201	-0.5pp $2,070	base $1,936	+0.5pp $1,800	+1.0pp $1,662

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,981
Total (3 units)			$6,980

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-18
   days on market $525,000 Active 31 DOM
2. 2026-06-17
   days on market $525,000 Active 30 DOM
3. 2026-06-16
   days on market $525,000 Active 29 DOM
4. 2026-06-15
   days on market $525,000 Active 28 DOM
5. 2026-06-13
   days on market $525,000 Active 26 DOM
6. 2026-06-09
   days on market $525,000 Active 22 DOM
7. 2026-06-08
   days on market $525,000 Active 21 DOM
8. 2026-06-07
   days on market $525,000 Active 20 DOM
9. 2026-06-05
   days on market $525,000 Active 17 DOM
10. 2026-06-03
    days on market $525,000 Active 16 DOM
11. 2026-06-02
    days on market $525,000 Active 15 DOM
12. 2026-06-01
    days on market $525,000 Active 14 DOM
13. 2026-05-31
    days on market $525,000 Active 13 DOM
14. 2026-05-18
    listed $525,000 Active
15. 2019-09-20
    price $78,500 94-char remark

    Show marketing remark (94 chars)

    INVESTORS TAKE NOTICE!! GREAT RENTAL AREA, CLOSE TO PC. THE COPPER IS LONG GONE. SOLD (AS IS).

16. 2019-02-14
    historical
17. 2018-11-14
    listed $239,900 Active
18. 2017-07-27
    soldstatus $108,000 Sold
19. 2017-07-27
    soldstatus $108,000
20. 2017-07-12
    status Pending
21. 2017-03-16
    historical Active - Under Contract
22. 2017-03-07
    listed $119,000 Active
23. 2016-11-08
    price $164,900
24. 2016-10-20
    historical
25. 2015-11-19
    listed $169,000 Active - New
26. 2015-03-24
    historical
27. 2014-10-28
    price $169,000
28. 2014-09-24
    listed $179,900 Active - New
29. 2008-09-25
    soldstatus $180,000
30. 2008-05-09
    soldstatus $75,000 94-char remark

    Show marketing remark (94 chars)

    INVESTORS TAKE NOTICE!! GREAT RENTAL AREA, CLOSE TO PC. THE COPPER IS LONG GONE. SOLD (AS IS).

31. 2008-04-28
    historical 94-char remark

    Show marketing remark (94 chars)

    INVESTORS TAKE NOTICE!! GREAT RENTAL AREA, CLOSE TO PC. THE COPPER IS LONG GONE. SOLD (AS IS).

32. 2008-01-24
    listed $139,900 94-char remark

    Show marketing remark (94 chars)

    INVESTORS TAKE NOTICE!! GREAT RENTAL AREA, CLOSE TO PC. THE COPPER IS LONG GONE. SOLD (AS IS).

33. 2008-01-15
    historical
34. 2007-12-20
    listed $139,900
35. 2007-12-15
    historical
36. 2007-07-19
    listed $213,675
37. 2005-10-26
    soldstatus $285,000
38. 2001-11-07
    soldstatus $125,000
39. 2001-06-22
    listed $125,000
40. 2000-02-15
    soldstatus $101,000
41. 1999-09-21
    historical
42. 1999-03-22
    listed $109,927

ⓘ 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: $7,274 · $606/mo
• Projected year-2 tax: $7,916 · $660/mo
• Expected delta: +$642/yr (+$53/mo · 8.8%)

ⓘ 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 ≥96°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: $83,760
• − Mortgage interest: −$29,408
• − Property taxes: −$7,274
• − Insurance: −$2,625
• − Repairs & maintenance: −$6,701
• − Management: −$6,701
• − Depreciation: −$15,273
• Taxable income: $15,779
• Est. tax owed @ 24.0%: −$3,787
• After-tax cash flow: $19,447/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

+377.6% since first listed

29 events — show timeline

• 2026-05-18 Listed $525,000 RIS
• 2019-09-20 Price Changed $78,500 RIS
• 2019-02-14 Listing Removed — RIS
• 2018-11-14 Listed $239,900 RIS
• 2017-07-27 Sold (Public Records) $108,000 Public Records
• 2017-07-27 Sold (MLS) $108,000 RIS
• 2017-07-12 Pending — RIS
• 2017-03-16 Contingent — RIS
• 2017-03-07 Listed $119,000 RIS
• 2016-11-08 Price Changed $164,900 RIS
• 2016-10-20 Listing Removed — RIS
• 2015-11-19 Listed $169,000 RIS
• 2015-03-24 Listing Removed — RIS
• 2014-10-28 Price Changed $169,000 RIS
• 2014-09-24 Listed $179,900 RIS
• 2008-09-25 Sold (Public Records) $180,000 Public Records
• 2008-05-09 Sold (MLS) $75,000 RIS
• 2008-04-28 Listing Removed — RIS
• 2008-01-24 Listed $139,900 RIS
• 2008-01-15 Listing Removed — RIS
• 2007-12-20 Listed $139,900 RIS
• 2007-12-15 Listing Removed — RIS
• 2007-07-19 Listed $213,675 RIS
• 2005-10-26 Sold (Public Records) $285,000 Public Records
• 2001-11-07 Sold (Public Records) $125,000 Public Records
• 2001-06-22 Listed $125,000 RIS
• 2000-02-15 Sold (Public Records) $101,000 Public Records
• 1999-09-21 Listing Removed — RIS
• 1999-03-22 Listed $109,927 RIS

Property tax history

+3.3%/yr

Latest (2025): $7,274 · +27.9% YoY. Source: county tax records.