30 Division St #68 · Providence, RI 02909

$249,900

1 bd · 1.5 ba · 1,000 sqft · Condo public records · 14 Days on market

Built 1988 $250/sqft · 16% below area Est $296k · 16% under $296/mo HOA · 16% of rent

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Why this score? — see what drove the F 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).

• ARV discount +14.6/15.0
• Cash flow +5.5/30.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Key facts

• Townhouse style unit
• Off street parking
• Private entry

Tags

• PRIVATE ENTRY
• TOWNHOUSE STYLE UNIT
• HIGH EFFICIENCY HEATING SYSTEM
• LAUNDRY IN THE UNIT
• OFF STREET PARKING
• PROFESSIONALLY MANAGED

Property features AI

Finance

• Financial info: Pets allowed (cats and large dogs over 25 lbs.)
• HOA & community: Monthly association fee; Association fee: $296.42; Community of 12 units

Exterior

• Parking: Assigned parking (1 space); No garage
• Utilities: Sewer connected; Water connected; Electrical: 100 amp service with circuit breakers
• Home design: Condominium (Octagon Condominium); 3 stories; Entry level: 1
• Construction: Drywall and clapboard exterior; Concrete perimeter foundation; Below-grade finished area; Above-grade finished area
• Exterior features: Sewer connected; Water connected

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living areas)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Gas heating; Hot water heating
• Interior features: Vinyl flooring; Tub with shower; Exterior and interior entry to finished basement
• Laundry & utility: In-unit laundry; Tankless water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-533 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (37.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (25.1% below list).
• Recommended offer: $156k (37.7% below list) — sets the bar for cash-flow.

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 (+3.7%/yr); 132 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 35% of the median local income ($65k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $155,805 (37.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 3.74%
• Cash-on-cash: -9.13%
• DSCR: 0.59
• GRM: 11.1

CMA / ARV

• ARV (median comp): $296,400
• List price: $249,900
• Delta: -15.69%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.68% rent growth · sell at horizon

5-year hold

• IRR: -31.5%
• Equity multiple: -0.04×
• Total profit: $-72,926
• Equity at exit: $37,261

10-year hold

• IRR: -31.0%
• Equity multiple: -0.44×
• Total profit: $-100,994
• Equity at exit: $21,607

Cash invested: $69,972 (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 02909

• Home prices YoY: -13.3%
• Rents YoY: 3.7%
• Active inventory: 132
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,872 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$301 /mo · $3,615/yr
• Insurance: −$104
• HOA: −$296
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-533

Break-even live

Break-even rent $2,547

Max offer price $155,805

Occupancy floor —

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
166 Valley St Providence, RI	2.0	1.0–2.0	733	$2,205	$3.01	2d	7	0.75mi
304 Webster Ave Cranston, RI	2.0	1.0	1144	$1,850	$1.62	10d	1	1.13mi
348 Union Ave Unit 1 Providence, RI	2.0	1.0	900	$1,900	$2.11	14d	1	1.20mi
37 Sumner Ave Unit 2 Cranston, RI	2.0	1.0	800	$1,600	$2.00	17d	1	1.47mi

HOA detail condo

• Monthly dues: $296 · $3,552/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 1 events

1. 2026-05-15
   listed $249,900 Active 479-char remark

ⓘ 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: $3,615 · $301/mo
• Projected year-2 tax: $3,844 · $320/mo
• Expected delta: +$229/yr (+$19/mo · 6.3%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $22,469
• − Mortgage interest: −$13,998
• − Property taxes: −$3,615
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − HOA: −$3,552
• − Depreciation: −$7,270
• Taxable loss: −$10,810
• Est. tax savings @ 24.0%: +$2,594
• After-tax cash flow: $-3,797/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): 46,014
• Household income: $64,649
• Rent vs Own: 60.2% rent · 39.8% own
• Severe rent burden: 2000.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 23% White 22% Black 12% Asian 2% Native American 2%
• Hispanic origin (detail): Puerto Rican 12% Dominican 23%
• Common ancestry: Lithuanian 2% Russian 1% Romanian 1%
• Foreign-born: 35% · Canada, Jamaica
• Languages at home: 43% English-only · Spanish 50% Other Indo-European 2% Other Asian/Pacific 1%

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: ▼ -72.78%
• Current HPI: 474.9956
• Rent YoY: ▲ 3.68%
• 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

2 events — show timeline

• 2026-05-29 Pending — RIS
• 2026-05-15 Listed $249,900 RIS

Property tax history

-19.8%/yr

Latest (2013): $3,615 · -19.8% YoY. Source: county tax records.