316 Court House Ln · Burrillville, RI 02859

$550,000

3 bd · 1.5 ba · 1,624 sqft · SingleFamily public records · 42 Days on market

Built 1940 0.34 ac lot $339/sqft · 22% above area Est $585k · 6% under

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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 +10.2/15.0
• Appreciation +10.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.1/30.0
• Schools +2.1/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Waterfront home for sale by owner. Located on Echo Lake ( Pascoag reservoir) this home was built in 1978 and features 3 bedrooms 1 full bath and a 1/2 bath with 1,600 sq feet of living space. Home has beautiful working wood stove located in the living room. The kitchen has beautiful customs cabinets. The house sits on a 14,000 sq foot lot with plenty of space for parking or future upgrades such as additions or a garage. This home also has a huge dock with space to pack a boat and jet skis. For any questions or to schedule a showing please text me at [phone] or send an email to [email protected]. Thank you for your interest

Key facts

• Custom kitchen
• Private deck
• Lakeside living

Tags

• LAKESIDE LIVING
• CUSTOM KITCHEN
• PRIVATE DECK
• HUGE DOCK
• YEAR-ROUND WATERFRONT LIVING

Property features AI

Finance

• HOA & community: Near schools, restaurants, and shopping

Exterior

• Parking: No garage; Space for about 10 vehicles
• Utilities: 100 amp electric service; Private well water; Septic tank sewer
• Home design: Two-story single-family home; Wood siding; Concrete perimeter foundation
• Construction: Wood siding construction; Concrete perimeter foundation
• Exterior features: Breezeway; Deck; Patio; Screened porch; Waterfront lot

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Primary and secondary bedrooms on the first floor; additional bedroom and den on the second floor
• Flooring: Carpet; Hardwood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Oil-fired hot water baseboard heating
• Interior features: Interior steps; Tub with shower; Wood-burning stove
• Laundry & utility: Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $550k.

Deal economics

• At list price, monthly cash flow is $-2k ($-24k/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (64.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (62.1% below list).
• Recommended offer: $195k (64.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Burrillville (suburban): math 14% / reading 29% proficiency, ranked #27 of 39 in RI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 47 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 $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$95k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,965 (64.6% 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. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 65% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — 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. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.38% ✗
• Cap rate: 1.91%
• Cash-on-cash: -15.66%
• DSCR: 0.30
• GRM: 22.0

CMA / ARV

• ARV (median comp): $584,547
• List price: $550,000
• Delta: -5.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
274 Courthouse Ln	0.09mi	3/1.0	1,458 (-10%)	11mo	$430,000	$295	67
121 Lake Shore Dr	0.62mi	3/2.0	1,501 (-8%)	21mo	$397,500	$265	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 2.11×
• Total profit: $171,485
• Equity at exit: $495,484

10-year hold

• IRR: 13.6%
• Equity multiple: 4.93×
• Total profit: $605,542
• Equity at exit: $1,068,529

Cash invested: $154,000 (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 02859

• Home prices YoY: 4.8%
• Active inventory: 47
• Price-to-rent: 22.0×

Monthly cashflow live

• Estimated rent: $2,086 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$544 /mo · $6,530/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-2,010

Break-even live

Break-even rent $4,630

Max offer price $194,965

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $550,000 Active 42 DOM
2. 2026-06-17
   days on market $550,000 Active 41 DOM
3. 2026-06-16
   days on market $550,000 Active 40 DOM
4. 2026-06-15
   days on market $550,000 Active 39 DOM
5. 2026-06-13
   days on market $550,000 Active 37 DOM
6. 2026-06-12
   days on market $550,000 Active 36 DOM
7. 2026-06-09
   days on market $550,000 Active 33 DOM
8. 2026-06-08
   days on market $550,000 Active 32 DOM
9. 2026-06-08
   days on market $550,000 Active 31 DOM
10. 2026-06-07
    days on market $550,000 Active 30 DOM
11. 2026-06-04
    days on market $550,000 Active 27 DOM
12. 2026-06-02
    days on market $550,000 Active 26 DOM
13. 2026-06-01
    days on market $550,000 Active 25 DOM
14. 2026-05-31
    days on market $550,000 Active 24 DOM
15. 2026-05-07
    listed $550,000 Active 513-char remark
16. 2026-02-05
    listed $575,000 Active 640-char remark

    Show marketing remark (640 chars)

    Waterfront home for sale by owner. Located on Echo Lake ( Pascoag reservoir) this home was built in 1978 and features 3 bedrooms 1 full bath and a 1/2 bath with 1,600 sq feet of living space. Home has beautiful working wood stove located in the living room. The kitchen has beautiful customs cabinets. The house sits on a 14,000 sq foot lot with plenty of space for parking or future upgrades such as additions or a garage. This home also has a huge dock with space to pack a boat and jet skis. For any questions or to schedule a showing please text me at [phone] or send an email to [email protected]. Thank you for your interest

17. 1996-09-04
    listed $135,000

ⓘ 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: $6,530 · $544/mo
• Projected year-2 tax: $7,748 · $646/mo
• Expected delta: +$1,218/yr (+$101/mo · 18.6%)

ⓘ 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 4/10 Moderate 7 d/yr ≥94°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,030
• − Mortgage interest: −$30,809
• − Property taxes: −$6,530
• − Insurance: −$2,750
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − Depreciation: −$16,000
• Taxable loss: −$35,063
• Est. tax savings @ 24.0%: +$8,415
• After-tax cash flow: $-15,702/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: Burrillville
• NCES district ID: 4400090
• Math proficiency: 14% ▼ -6.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $66,679
• Composite: 20.69/100
• National rank: #8529
• State rank: #27 of 39 in RI

Livability — Burrillville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Pascoag, RI
• Population (ZIP): 6,803

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 White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 2% Asian 1%
• Hispanic origin (detail): Dominican 5%
• Common ancestry: Lithuanian 16% Russian 4% Romanian 3%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 9% French/Haitian/Cajun 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: ▲ 15.22%
• Current HPI: 330.7456
• Rent YoY: —
• Metro: —
• 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

+307.4% since first listed

3 events — show timeline

• 2026-05-07 Listed $550,000 RIS
• 2026-02-05 Listed $575,000 Fizber.com
• 1996-09-04 Listed $135,000 RIS

Property tax history

+1.9%/yr

Latest (2025): $6,530 · +2.8% YoY. Source: county tax records.