42 Maplewood Dr · Chepachet, RI 02839

$159,900

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 68 Days on market

Built 1981 $390/mo HOA · 20% of rent ↓ 5% since listing

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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 +20.7/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Appreciation +6.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Luckily you did not miss out!!! Nicely updated 2-bedroom, 1-bath mobile home offering comfortable, low-maintenance living. This home features recent updates throughout, including refreshed flooring, modern finishes, and a bright, inviting living space. The kitchen offers ample cabinet storage and functionality, while both bedrooms are well-sized. Enjoy easy one-level living with efficient layout and minimal upkeep. Conveniently located near local amenities, shopping, and major routes. Perfect for downsizers, first-time buyers, or anyone looking for an affordable, move-in ready option. Park approval required, application, rules & by-laws in MLS listing.

Key facts

• Updated mobile home
• One-level living
• Modern finishes

Tags

• UPDATED MOBILE HOME
• REFRESHED FLOORING
• MODERN FINISHES
• AMPLE CABINET STORAGE
• ONE-LEVEL LIVING
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Assessed value reported; Annual taxes reported
• Financial info: Has land lease
• HOA & community: Monthly association fee of $390; Near schools; Recreation area nearby

Exterior

• Parking: No garage; 2 parking spaces
• Utilities: Sewer connected; Water connected (water tap fee); Circuit breaker electrical service
• Home design: Single-story; Plaster and vinyl siding exterior; Slab foundation
• Construction: Plaster construction; Vinyl siding; Slab foundation; Built with 1 story
• Exterior features: Paved driveway

Interior

• Kitchen: Oven; Range; Refrigerator
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (propane); Ductless cooling
• Interior features: Tub with shower
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#9 in RI, #4,347 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• 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: 9 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.4% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.25% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.80%
• DSCR: 1.26
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.63×
• Total profit: $28,087
• Equity at exit: $66,426

10-year hold

• IRR: 14.0%
• Equity multiple: 2.95×
• Total profit: $87,521
• Equity at exit: $98,304

Cash invested: $44,772 (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 02839

• Home prices YoY: 0.7%
• Active inventory: 9
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$68 /mo · $822/yr
• Insurance: −$67
• HOA: −$390
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $216

Break-even live

Break-even rent $1,726

Max offer price $159,900

Occupancy floor 84%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Oakland School St Oakland, RI	1.0	1.0	910	$2,000	$2.20	14d	1	0.92mi

HOA detail

• Monthly dues: $390 · $4,680/yr

Listing history 14 events

1. 2026-06-12
   statusdays on market $159,900 Pending 68 DOM
2. 2026-06-09
   days on market $159,900 Active Under Contract 67 DOM
3. 2026-06-08
   days on market $159,900 Active Under Contract 66 DOM
4. 2026-06-08
   days on market $159,900 Active Under Contract 65 DOM
5. 2026-06-07
   days on market $159,900 Active Under Contract 64 DOM
6. 2026-06-04
   days on market $159,900 Active Under Contract 61 DOM
7. 2026-06-02
   days on market $159,900 Active Under Contract 60 DOM
8. 2026-06-01
   days on market $159,900 Active Under Contract 59 DOM
9. 2026-05-31
   days on market $159,900 Active Under Contract 58 DOM
10. 2026-05-14
    historical Active Under Contract
11. 2026-05-08
    status Active
12. 2026-05-08
    price $159,900
13. 2026-04-14
    historical Active Under Contract
14. 2026-04-03
    listed $169,000 Active

ⓘ 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: $822 · $68/mo
• Projected year-2 tax: $1,714 · $143/mo
• Expected delta: +$892/yr (+$74/mo · 108.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$8,957
• − Property taxes: −$822
• − Insurance: −$800
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − HOA: −$4,680
• − Depreciation: −$4,652
• Taxable income: $250
• Est. tax owed @ 24.0%: −$60
• After-tax cash flow: $2,536/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 — Chepachet

• Score: 75/100
• State rank: #9
• US rank: #4347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,690

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 (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 41% Romanian 4% Italian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Chinese 1% Russian/Polish/Slavic 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: ▲ 2.38%
• Current HPI: 325.8486
• 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

-5.4% since first listed

5 events — show timeline

• 2026-05-14 Contingent — RIS
• 2026-05-08 Relisted — RIS
• 2026-05-08 Price Changed $159,900 RIS
• 2026-04-14 Contingent — RIS
• 2026-04-03 Listed $169,000 RIS

Property tax history

+0.0%/yr

Latest (2025): $822 · +12.1% YoY. Source: county tax records.