206 E Songbird Ln · Fall River, MA 02878

$229,000

2 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 43 Days on market

Built 2004 Est $352k · 35% under $570/mo HOA · 18% of rent

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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 +24.4/30.0
• ARV discount +15.0/15.0
• 1% rule +9.1/10.0
• DSCR +7.9/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely 2 bedroom ranch in Country View Estates a gated over 55 community. . This unit has full access to club house facility ie: inground, indoor pool, patio, kitchen. function room, library and more. 2 bedrooms, 2 baths, wood laminate floors, dining room, foyer/reading room and much more. This is a front facing home with carport, shed, 4" basement, corner lot, Immaculate move in condition.. Ready for immediate occupancy.

Key facts

• 2 garage spots
• Built 2004
• Listed 43 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $222k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.6% in Fall River — 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 61/100 on livability (#221 in MA) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: cost of living D+, schools D, crime F.
• Tiverton (rural): math 35% / reading 49% proficiency, ranked #14 of 39 in RI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 94 units permitted in Newport County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($106k/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.
• Newport County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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

• Climate carrying-cost: severe wind risk, 80% 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 $222,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.41% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.67%
• DSCR: 1.39
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $352,352
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
70 Songbird Ln	0.14mi	2/2.0	1,404 (-4%)	23mo	$285,000	$203	68
77 Robin Dr	0.12mi	3/2.0 (+1)	1,344 (-8%)	12mo	$325,000	$242	67
53 Blue Jay	0.11mi	2/2.0	1,352 (-7%)	23mo	$330,000	$244	64

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

Projected returns pro-forma

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

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-7,248
• Equity at exit: $34,145

10-year hold

• IRR: 6.8%
• Equity multiple: 1.52×
• Total profit: $33,124
• Equity at exit: $19,800

Cash invested: $64,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02878

• Home prices YoY: -23.3%
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $3,221 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$215 /mo · $2,583/yr
• Insurance: −$95
• HOA: −$570
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $463

Break-even live

Break-even rent $2,635

Max offer price $229,000

Occupancy floor 81%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 Hancock St Tiverton, RI	3.0	2.0	1860	$4,500	$2.42	24d	1	0.27mi
58 Urban's Ln Unit A Tiverton, RI	1.0	1.5	1350	$2,395	$1.77	44d	1	1.08mi
425 Anthony St Unit 1 Fall River, MA	3.0	1.0	1000	$2,100	$2.10	2d	1	1.22mi
1141 Stafford Rd Fall River, MA	3.0	1.0	940	$1,750	$1.86	2d	1	1.24mi

HOA detail

• Monthly dues: $570 · $6,840/yr
• Likely covers: poolsecurity

Listing history 9 events

1. 2021-10-05
   soldstatus $200,000 Sold 431-char remark

   Show marketing remark (431 chars)

   Lovely 2 bedroom ranch in Country View Estates a gated over 55 community. . This unit has full access to club house facility ie: inground, indoor pool, patio, kitchen. function room, library and more. 2 bedrooms, 2 baths, wood laminate floors, dining room, foyer/reading room and much more. This is a front facing home with carport, shed, 4" basement, corner lot, Immaculate move in condition.. Ready for immediate occupancy.

2. 2021-09-30
   status Pending
3. 2021-09-23
   status Under Agreement 431-char remark

   Show marketing remark (431 chars)

   Lovely 2 bedroom ranch in Country View Estates a gated over 55 community. . This unit has full access to club house facility ie: inground, indoor pool, patio, kitchen. function room, library and more. 2 bedrooms, 2 baths, wood laminate floors, dining room, foyer/reading room and much more. This is a front facing home with carport, shed, 4" basement, corner lot, Immaculate move in condition.. Ready for immediate occupancy.

4. 2021-08-18
   listed $229,900 New 431-char remark

   Show marketing remark (431 chars)

   Lovely 2 bedroom ranch in Country View Estates a gated over 55 community. . This unit has full access to club house facility ie: inground, indoor pool, patio, kitchen. function room, library and more. 2 bedrooms, 2 baths, wood laminate floors, dining room, foyer/reading room and much more. This is a front facing home with carport, shed, 4" basement, corner lot, Immaculate move in condition.. Ready for immediate occupancy.

5. 2021-08-18
   listed $229,000 Active

   Show marketing remark (431 chars)

   Lovely 2 bedroom ranch in Country View Estates a gated over 55 community. . This unit has full access to club house facility ie: inground, indoor pool, patio, kitchen. function room, library and more. 2 bedrooms, 2 baths, wood laminate floors, dining room, foyer/reading room and much more. This is a front facing home with carport, shed, 4" basement, corner lot, Immaculate move in condition.. Ready for immediate occupancy.

6. 2013-12-19
   price $115,000
7. 2013-10-16
   historical
8. 2013-04-18
   listed $130,000
9. 2005-05-03
   soldstatus $125,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $2,583 · $215/mo
• Projected year-2 tax: $2,700 · $225/mo
• Expected delta: +$117/yr (+$10/mo · 4.5%)

ⓘ 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 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,655
• − Mortgage interest: −$12,828
• − Property taxes: −$2,583
• − Insurance: −$1,145
• − Repairs & maintenance: −$3,092
• − Management: −$3,092
• − HOA: −$6,840
• − Depreciation: −$6,662
• Taxable income: $2,413
• Est. tax owed @ 24.0%: −$579
• After-tax cash flow: $4,980/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: Tiverton
• NCES district ID: 4401050
• Math proficiency: 35% ▼ -6.00%
• Reading proficiency: 49% ▬ 0.00%
• Median HH income: $67,472
• Composite: 37.77/100
• National rank: #4347
• State rank: #14 of 39 in RI

Livability — Fall River

• Score: 61/100
• State rank: #221
• US rank: #18220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Newport County
• City population: 93,033
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 16,189
• Household income: $106,036
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 201.0

Population outlook (Newport County) Hauer SSP2

• Today (2025): 81,198 people
• By 2030: 79,518 · -2.1%
• By 2040: 75,581 · -6.9%
• By 2050: 71,801 · -11.6%
• By 2075: 64,618 · -20.4%
• By 2100: 56,724 · -30.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Black 2%
• Common ancestry: Russian 30% Lithuanian 15% Romanian 4%
• Foreign-born: 7% · Canada
• Languages at home: 92% English-only · Other Indo-European 5% Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Newport

• 2024 margin: Strong D (+25.5) · D 61.6% · R 36.1% · Other 2.2%
• 2008→2024 swing: +2.2pp toward D · 2008: 23.3pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+29.8 2016: D+19.4 2012: D+17.7 2008: D+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.16%
• Current HPI: 362.7711
• Rent YoY: —
• Metro: Providence-Warwick, RI-MA
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+59.4% since first listed

9 events — show timeline

• 2021-10-05 Sold (MLS) $200,000 MLS PIN
• 2021-09-30 Pending — RIS
• 2021-09-23 Pending — MLS PIN
• 2021-08-18 Listed $229,000 RIS
• 2021-08-18 Listed $229,900 MLS PIN
• 2013-12-19 Price Changed $115,000 RIS
• 2013-10-16 Listing Removed — RIS
• 2013-04-18 Listed $130,000 RIS
• 2005-05-03 Sold (Public Records) $125,500 Public Records

Property tax history

+2.5%/yr

Latest (2024): $2,583 · -3.7% YoY. Source: county tax records.