245 2 Manton St · Pawtucket, RI 02861

$99,900

1 bd · 1.0 ba · 625 sqft · Manufactured · 105 Days on market

Built 1970 2,500 sqft lot $550/mo HOA · 34% of rent

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Why this score? — see what drove the D+ 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 +16.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1-bedroom, 1-bath mobile home situated on a desirable corner lot in Pawtucket, just minutes from Slater Park. This well-maintained home features stainless steel appliances, an updated walk-in shower, and a bright, comfortable living space. The fenced lot offers added privacy and outdoor enjoyment. Located on leased land within an ALL AGES community. Monthly lot rent applies. Subject to park approval. Conveniently located near local amenities, shopping centers, and major routes.

Key facts

• Major routes
• Local amenities
• Fenced lot

Tags

• CORNER LOT
• STAINLESS STEEL APPLIANCES
• UPDATED WALK-IN SHOWER
• FENCED LOT
• LOCAL AMENITIES
• MAJOR ROUTES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $50 ($604/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 3.8% in Pawtucket — 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 71/100 on livability (#16 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: employment C-, schools D, amenities F.
• Pawtucket (suburban): math 7% / reading 19% proficiency, ranked #33 of 39 in RI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.6%/yr); 94 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $691 of loan paydown is wiped out by about $3k 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

• It's been on market 105 days — a 9% lower offer ($91k) 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.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.
• 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 $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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 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: 1.64% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.57% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.70×
• Total profit: $-8,287
• Equity at exit: $14,895

10-year hold

• IRR: 6.8%
• Equity multiple: 1.61×
• Total profit: $17,127
• Equity at exit: $8,638

Cash invested: $27,972 (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 02861

• Rents YoY: 5.6%
• Active inventory: 94
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,634 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$550
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $50

Break-even live

Break-even rent $1,570

Max offer price $99,900

Occupancy floor 92%

Sensitivity live

Price	-10% $119	-5% $85	+0% $50	+5% $16	+10% $-19
Rent	-10% $-79	-5% $-14	+0% $50	+5% $115	+10% $179
Rate	-1.0pp $101	-0.5pp $76	base $50	+0.5pp $24	+1.0pp $-2

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
595 Armistice Blvd Unit 3 Pawtucket, RI	2.0	1.0	700	$1,850	$2.64	12d	1	0.91mi
28 Island Ave Rumford, RI	1.0	1.0	535	$1,500	$2.80	45d	1	1.40mi
984 York Ave Unit 2L Pawtucket, RI	1.0	1.0	726	$1,600	$2.20	45d	1	1.48mi

HOA detail

• Monthly dues: $550 · $6,600/yr

Listing history 8 events

1. 2026-06-03
   days on market $99,900 Active 105 DOM
2. 2026-06-02
   days on market $99,900 Active 104 DOM
3. 2026-06-01
   days on market $99,900 Active 103 DOM
4. 2026-05-31
   days on market $99,900 Active 102 DOM
5. 2026-02-18
   listed $99,900 Active 491-char remark

   Show marketing remark (491 chars)

   Charming 1-bedroom, 1-bath mobile home situated on a desirable corner lot in Pawtucket, just minutes from Slater Park. This well-maintained home features stainless steel appliances, an updated walk-in shower, and a bright, comfortable living space. The fenced lot offers added privacy and outdoor enjoyment. Located on leased land within an ALL AGES community. Monthly lot rent applies. Subject to park approval. Conveniently located near local amenities, shopping centers, and major routes.

6. 2025-07-15
   historical
7. 2025-04-25
   price $92,900
8. 2025-04-16
   listed $96,000 Active

ⓘ 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

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,606
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − HOA: −$6,600
• − Depreciation: −$2,906
• Taxable loss: −$631
• Est. tax savings @ 24.0%: +$152
• After-tax cash flow: $755/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: Pawtucket
• NCES district ID: 4400840
• Math proficiency: 7% ▼ -10.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $41,838
• Composite: 11.29/100
• National rank: #9718
• State rank: #33 of 39 in RI

Livability — Pawtucket

• Score: 71/100
• State rank: #16
• US rank: #7037

Category grades

Amenities F Commute F 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: Pawtucket, RI
• County: Providence County · 548,917 people
• City population: 75,942
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 28,124
• Household income: $83,411
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 891.0

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 0.59)
• Race & ethnicity: White 61% Hispanic / Latino 18% Two or more races 13% Black 10% Asian 2%
• Hispanic origin (detail): Puerto Rican 5% Dominican 4%
• Common ancestry: Russian 11% Lithuanian 10% Romanian 4%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 71% English-only · Spanish 13% Other Indo-European 9% 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: ▼ -469.15%
• Current HPI: 313.2295
• Rent YoY: ▲ 5.57%
• 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

+4.1% since first listed

4 events — show timeline

• 2026-02-18 Listed $99,900 RIS
• 2025-07-15 Listing Removed — RIS
• 2025-04-25 Price Changed $92,900 RIS
• 2025-04-16 Listed $96,000 RIS