420 Rathbun #9 · Woonsocket, RI 02895

$139,900

1 bd · 1.0 ba · 630 sqft · Condo public records · 13 Days on market

Built 1900 $180/mo HOA · 13% 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 +15.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Rent growth +4.8/5.0
• DSCR +4.7/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained one-bedroom condo offering comfort, convenience, and affordability all in one. Featuring new laminate flooring and fresh paint throughout, this bright and inviting unit is move-in ready. The spacious bedroom includes a walk-in closet, while the renovated bathroom adds a modern touch. Enjoy gas heating and cooking, along with a private balcony perfect for relaxing outside. Additional highlights include low condo fees (180 a month), extra storage in the basement, and off-street parking. Perfect for the savvy investor or owner occupy. Schedule your private showing today!

Key facts

• Renovated bathroom
• Fresh paint
• Walk-in closet

Tags

• NEW LAMINATE FLOORING
• FRESH PAINT
• WALK-IN CLOSET
• RENOVATED BATHROOM
• GAS HEATING
• PRIVATE BALCONY

Property features AI

Finance

• Other: Building name: Rathbun St; Total building area: 630 (below grade finished area listed as 630)
• HOA & community: Monthly association fee of $180; HOA covers water, sewer, grounds maintenance, snow removal, and trash; Community storage available; Community features include public transportation, medical facility access, highway access, private and public schools; Not a senior community

Exterior

• Parking: 1 off-street parking space
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Condominium; Entry level: 2; 1 story; 2/3 family structure
• Construction: Below-grade finished area; Year built per public records (actual)
• Exterior features: Off-street parking

Interior

• Kitchen: Range; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas; Heating present
• Interior features: Insulated windows; 3 total rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $54 ($643/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 6.8% vs local median 3.1% in Woonsocket — 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 65/100 on livability (#24 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, schools D-, amenities F.
• Woonsocket (suburban): math 5% / reading 14% proficiency, ranked #37 of 39 in RI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 165 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $967 of loan paydown is wiped out by about $4k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 20y 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.
• Current owner paid $72k; list at $140k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.01% ✓
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.70×
• Total profit: $-11,727
• Equity at exit: $20,860

10-year hold

• IRR: 7.7%
• Equity multiple: 1.73×
• Total profit: $28,413
• Equity at exit: $12,096

Cash invested: $39,172 (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 02895

• Rents YoY: 9.2%
• Active inventory: 165
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,410 high
• Mortgage (P&I): −$734
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$58
• HOA: −$180
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $54

Break-even live

Break-even rent $1,342

Max offer price $139,900

Occupancy floor 91%

Sensitivity live

Price	-10% $133	-5% $93	+0% $54	+5% $14	+10% $-26
Rent	-10% $-58	-5% $-2	+0% $54	+5% $109	+10% $165
Rate	-1.0pp $124	-0.5pp $89	base $54	+0.5pp $17	+1.0pp $-20

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 Privilege St Woonsocket, RI	1.0	1.0	742	$1,200	$1.62	45d	1	0.08mi
275 Diamond Hill Rd Woonsocket, RI	1.0	1.0	600	$1,450	$2.42	1d	1	0.10mi
381 Privilege St Woonsocket, RI	1.0	1.0	650	$1,500	$2.31	12d	1	0.11mi
18 Oak Hill Ave Unit 3F Woonsocket, RI	2.0	1.0	650	$1,500	$2.31	25d	1	0.27mi
24 Birch St Unit 2 Woonsocket, RI	2.0	1.0	750	$1,700	$2.27	16d	1	0.40mi
145 Burnside Ave Woonsocket, RI	2.0	1.0	727	$1,550	$2.13	45d	1	0.44mi
724 N Main St Woonsocket, RI	1.0	1.0	400	$1,000	$2.50	45d	1	0.59mi
26 Farm St Unit 3 Woonsocket, RI	2.0	1.0	700	$1,700	$2.43	18d	1	0.60mi
508 Elm St Unit 1347754P Woonsocket, RI	1.0	1.0	495	$2,793	$5.64	3d	1	0.66mi
497 Winter St Woonsocket, RI	1.0	1.0	675	$1,395	$2.07	3d	1	0.67mi
210 N Main St Unit 3 Woonsocket, RI	1.0	1.0	700	$1,633	$2.33	45d	1	0.73mi
210 N Main St Unit 2F Woonsocket, RI	1.0	1.0	600	$1,575	$2.62	45d	1	0.73mi
78 Edgewater Dr Unit 3 Blackstone, MA	1.0	1.0	700	$1,300	$1.86	1d	1	0.74mi
27 W Park Pl Unit 2F Woonsocket, RI	1.0	1.0	450	$1,450	$3.22	19d	1	0.79mi
231 Cato St Unit 2 Woonsocket, RI	1.0	1.0	750	$1,295	$1.73	45d	1	0.94mi
17 Hamlet Ave Unit 7 Woonsocket, RI	—	1.0	600	$1,100	$1.83	45d	1	0.96mi
141 High St Unit 2 L Woonsocket, RI	2.0	1.0	600	$1,400	$2.33	25d	1	1.02mi
583 Willow St Woonsocket, RI	2.0	1.0	750	$1,595	$2.13	4d	1	1.07mi
92 Fountain St Unit 1C Woonsocket, RI	1.0	1.0	500	$1,100	$2.20	45d	1	1.09mi
107 Arnold St Unit 13 Woonsocket, RI	1.0	1.0	432	$900	$2.08	45d	1	1.15mi
858 Bernon St Unit LL Woonsocket, RI	1.0	1.0	700	$1,400	$2.00	13d	1	1.15mi
3 Highland St Woonsocket, RI	1.0	1.0	575	$1,275	$2.22	21d	1	1.16mi
160 Papineau Ave Woonsocket, RI	2.0	1.0	750	$2,000	$2.67	4d	1	1.32mi
665 Mendon Rd Unit 1347759P Woonsocket, RI	2.0	1.0	495	$3,985	$8.05	45d	1	1.34mi
232 Cottage St Unit 3 Woonsocket, RI	2.0	1.0	745	$1,450	$1.95	45d	1	1.39mi
1067 Mendon Rd Unit 3 Woonsocket, RI	1.0	1.0	710	$1,750	$2.46	1d	1	1.40mi
1371 Mendon Rd Unit 32 Woonsocket, RI	1.0	1.0	650	$1,850	$2.85	12d	1	1.48mi
1371 Mendon Rd Unit 30 Woonsocket, RI	1.0	1.0	650	$1,850	$2.85	13d	1	1.48mi

HOA detail condo

• Monthly dues: $180 · $2,160/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $139,900 Active 13 DOM
2. 2026-06-18
   days on market $139,900 Active 10 DOM
3. 2026-06-17
   days on market $139,900 Active 9 DOM
4. 2026-06-16
   days on market $139,900 Active 8 DOM
5. 2026-06-15
   days on market $139,900 Active 7 DOM
6. 2026-06-13
   days on market $139,900 Active 5 DOM
7. 2026-06-13
   statusdays on market $139,900 Active 4 DOM
8. 2026-06-08
   statusdays on marketlisting id $139,900 New 1 DOM

   Show marketing remark (606 chars)

   Welcome to this well-maintained one-bedroom condo offering comfort, convenience, and affordability all in one. Featuring new laminate flooring and fresh paint throughout, this bright and inviting unit is move-in ready. The spacious bedroom includes a walk-in closet, while the renovated bathroom adds a modern touch. Enjoy gas heating and cooking, along with a private balcony perfect for relaxing outside. Additional highlights include low condo fees (180 a month), extra storage in the basement, and off-street parking. Perfect for the savvy investor or owner occupy. Schedule your private showing today!

9. 2026-06-07
   days on market $139,900 Active 20 DOM
10. 2026-06-05
    days on market $139,900 Active 17 DOM
11. 2026-06-03
    days on market $139,900 Active 16 DOM
12. 2026-06-02
    days on market $139,900 Active 15 DOM
13. 2026-06-01
    days on market $139,900 Active 14 DOM
14. 2026-05-31
    statusdays on market $139,900 Active 13 DOM
15. 2026-05-18
    listed $150,000 New 634-char remark
16. 2026-05-13
    listed $150,000 Active 634-char remark
17. 2021-12-17
    soldstatus $72,500
18. 2021-12-16
    soldstatus $72,500 Closed
19. 2021-10-19
    status Pending
20. 2021-10-13
    price $80,000
21. 2021-09-30
    price $90,000
22. 2021-09-22
    listed $100,000 Active
23. 2020-02-24
    soldstatus $50,000 Closed
24. 2020-02-24
    soldstatus $50,000
25. 2020-02-01
    listed $50,000
26. 2020-02-01
    historical
27. 2013-12-19
    price $64,900
28. 2010-01-07
    historical
29. 2009-10-07
    listed $69,900
30. 2007-09-18
    historical
31. 2007-07-13
    listed $97,900
32. 2007-06-12
    historical
33. 2006-12-14
    listed $97,900

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,669 · $139/mo
• Expected delta: +$611/yr (+$51/mo · 57.8%)

ⓘ 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 5/10 Major 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $16,917
• − Mortgage interest: −$7,837
• − Property taxes: −$1,058
• − Insurance: −$700
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − HOA: −$2,160
• − Depreciation: −$4,070
• Taxable loss: −$1,614
• Est. tax savings @ 24.0%: +$387
• After-tax cash flow: $1,030/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: Woonsocket
• NCES district ID: 4401200
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $37,757
• Composite: 8.01/100
• National rank: #9923
• State rank: #37 of 39 in RI

Livability — Woonsocket

• Score: 65/100
• State rank: #24
• US rank: #12968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, RI
• County: Providence County · 548,917 people
• City population: 43,521
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 43,521
• Household income: $61,059
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2658.0

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 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 13% Romanian 3% Russian 3%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 17% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -431.80%
• Current HPI: 357.8858
• Rent YoY: ▲ 9.15%
• 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

+42.9% since first listed

22 events — show timeline

• 2026-06-08 Listing Removed — RIS
• 2026-06-08 Listed $139,900 RIS
• 2026-06-08 Listed $139,900 MLS PIN
• 2026-05-27 Price Changed $139,900 RIS
• 2026-05-13 Listed $150,000 RIS
• 2021-12-17 Sold (Public Records) $72,500 Public Records
• 2021-12-16 Sold (MLS) $72,500 RIS
• 2021-10-19 Pending — RIS
• 2021-10-13 Price Changed $80,000 RIS
• 2021-09-30 Price Changed $90,000 RIS
• 2021-09-22 Listed $100,000 RIS
• 2020-02-24 Sold (Public Records) $50,000 Public Records
• 2020-02-24 Sold (MLS) $50,000 RIS
• 2020-02-01 Listed $50,000 RIS
• 2020-02-01 Listing Removed — RIS
• 2013-12-19 Price Changed $64,900 RIS
• 2010-01-07 Listing Removed — RIS
• 2009-10-07 Listed $69,900 RIS
• 2007-09-18 Listing Removed — RIS
• 2007-07-13 Listed $97,900 RIS
• 2007-06-12 Listing Removed — RIS
• 2006-12-14 Listed $97,900 RIS

Property tax history

-0.3%/yr

Latest (2025): $1,058 · +5.9% YoY. Source: county tax records.