9 11 Nelson St · East Providence, RI 02916

$399,999

6 bd · 2.0 ba · 2,106 sqft · MultiFamily public records · 6 Days on market

Built 1913 5,670 sqft lot $190/sqft · 45% below area Est $561k · 29% under

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

BEAUTIFUL RMFORD AREA NEAR GOLF, ALL NEW WINDOWS THROUGHOUT, NEWLY PAINTED INTERIOR, ALL SEPARATE UTILITIES, POSSIBLE 3RD BEDROOM ON EACH SIDE, FULL BASEMENT FOR STORAGE. GREAT HOME GREAT PRICE!!!

Key facts

• Spacious layouts
• Solid bones
• Side-by-side duplex

Tags

• SIDE-BY-SIDE DUPLEX
• STRONG INCOME POTENTIAL
• SPACIOUS LAYOUTS
• SOLID BONES
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Other: Two-unit property in one building

Exterior

• Parking: No garage
• Utilities: Sewer connected; Water connected; Electric service 100–200+ amps
• Home design: Two-story building; Above-grade finished area about 1,638
• Construction: Wood siding construction
• Exterior features: Lot approximately 5,670 sq ft

Interior

• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air gas heating; Has heating
• Interior features: Full unfinished basement; Total of 12 rooms
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive. Per door: $392/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Cap rate 8.6% vs local median 3.2% in East Providence — 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 74/100 on livability (#12 in RI, #4,784 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• East Providence (suburban): math 18% / reading 31% proficiency, ranked #26 of 39 in RI (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 50 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $12k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y 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 $240k; list at $400k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1913 — 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. 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. 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 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: 1.14% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.40%
• DSCR: 1.37
• GRM: 7.3

CMA / ARV

• ARV (median comp): $561,137
• List price: $399,999
• Delta: -28.72%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
918 920 Roger Williams Ave	0.71mi	6/3.0	2,184 (+4%)	21mo	$610,000	$279	39

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-14,815
• Equity at exit: $59,641

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $51,741
• Equity at exit: $34,585

Cash invested: $112,000 (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 02916

• Home prices YoY: -32.0%
• Active inventory: 50
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $4,540 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$539 /mo · $6,464/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$953
• Net cashflow: $784

Break-even live

Break-even rent $3,548

Max offer price $399,999

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,540
Total (2 units)			$4,540

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-13
   listed $399,999 Active 596-char remark
2. 2016-11-08
   price $269,900
3. 2006-10-11
   soldstatus $239,500
4. 2006-10-10
   soldstatus $239,500

   Show marketing remark (196 chars)

   BEAUTIFUL RMFORD AREA NEAR GOLF, ALL NEW WINDOWS THROUGHOUT, NEWLY PAINTED INTERIOR, ALL SEPARATE UTILITIES, POSSIBLE 3RD BEDROOM ON EACH SIDE, FULL BASEMENT FOR STORAGE. GREAT HOME GREAT PRICE!!!

5. 2006-09-12
   historical

   Show marketing remark (196 chars)

   BEAUTIFUL RMFORD AREA NEAR GOLF, ALL NEW WINDOWS THROUGHOUT, NEWLY PAINTED INTERIOR, ALL SEPARATE UTILITIES, POSSIBLE 3RD BEDROOM ON EACH SIDE, FULL BASEMENT FOR STORAGE. GREAT HOME GREAT PRICE!!!

6. 2006-08-30
   listed $229,900

   Show marketing remark (196 chars)

   BEAUTIFUL RMFORD AREA NEAR GOLF, ALL NEW WINDOWS THROUGHOUT, NEWLY PAINTED INTERIOR, ALL SEPARATE UTILITIES, POSSIBLE 3RD BEDROOM ON EACH SIDE, FULL BASEMENT FOR STORAGE. GREAT HOME GREAT PRICE!!!

7. 2006-07-25
   historical
8. 2006-03-10
   listed $289,900
9. 2003-05-30
   soldstatus $180,000
10. 2003-05-30
    soldstatus $180,000
11. 2003-04-26
    historical
12. 2003-01-29
    listed $209,900
13. 2002-11-20
    soldstatus $142,400
14. 2002-11-20
    soldstatus $143,000
15. 2002-11-20
    soldstatus $143,000
16. 2002-09-19
    historical
17. 2002-09-14
    listed $144,900

ⓘ 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: $6,464 · $539/mo
• Projected year-2 tax: $6,492 · $541/mo
• Expected delta: +$28/yr (+$2/mo · 0.4%)

ⓘ 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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $54,480
• − Mortgage interest: −$22,406
• − Property taxes: −$6,464
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,358
• − Management: −$4,358
• − Depreciation: −$11,636
• Taxable income: $3,257
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $8,622/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: East Providence
• NCES district ID: 4400330
• Math proficiency: 18% ▼ -8.00%
• Reading proficiency: 31% ▼ -5.00%
• Median HH income: $51,011
• Composite: 21.69/100
• National rank: #8274
• State rank: #26 of 39 in RI

Livability — East Providence

• Score: 74/100
• State rank: #12
• US rank: #4784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Providence, RI
• City population: 38,586
• Population (ZIP): 8,725

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% Two or more races 6% Hispanic / Latino 5% Black 2%
• Common ancestry: Russian 14% Lithuanian 9% Romanian 7%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 87% English-only · Other Indo-European 6% Spanish 4% French/Haitian/Cajun 2%

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: ▼ -160.26%
• Current HPI: 339.7399
• 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

+176.1% since first listed

18 events — show timeline

• 2026-05-19 Pending — RIS
• 2026-05-13 Listed $399,999 RIS
• 2016-11-08 Price Changed $269,900 RIS
• 2006-10-11 Sold (Public Records) $239,500 Public Records
• 2006-10-10 Sold (MLS) $239,500 RIS
• 2006-09-12 Listing Removed — RIS
• 2006-08-30 Listed $229,900 RIS
• 2006-07-25 Listing Removed — RIS
• 2006-03-10 Listed $289,900 RIS
• 2003-05-30 Sold (Public Records) $180,000 Public Records
• 2003-05-30 Sold (MLS) $180,000 RIS
• 2003-04-26 Listing Removed — RIS
• 2003-01-29 Listed $209,900 RIS
• 2002-11-20 Sold (Public Records) $143,000 Public Records
• 2002-11-20 Sold (Public Records) $143,000 Public Records
• 2002-11-20 Sold (MLS) $142,400 RIS
• 2002-09-19 Listing Removed — RIS
• 2002-09-14 Listed $144,900 RIS

Property tax history

+3.4%/yr

Latest (2025): $6,464 · +23.5% YoY. Source: county tax records.