35 Steere Rd · Harmony, RI 02814

$149,900

1 bd · 1.0 ba · 432 sqft · SingleFamily public records · 11 Days on market

Built 1943 10,802 sqft lot

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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 +25.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +5.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

1-bedroom cottage overlooking beautiful Waterman Reservoir! This property offers a rare opportunity to own a home with water views at an affordable price. The cottage does need some work, but with a little vision and effort, it can be transformed into the perfect weekend retreat or year-round residence. Enjoy peaceful surroundings, stunning sunsets, and the chance to make this home truly your own. Don't miss out on this hidden gem with endless potential!

Key facts

• 0.25 acre lot
• 2 parking spots
• Built 1943

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

Location & tenants

• Location reads 63/100 on livability (#26 in RI) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: cost of living D+, schools D-, amenities F.
• Glocester (rural): math 46% / reading 66% proficiency, ranked #4 of 39 in RI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 40 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.40%
• DSCR: 1.46
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $33,696
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Long Meadow Dr	0.21mi	2/1.0 (+1)	476 (+10%)	23mo	$37,000	$78	49

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 3.50×
• Total profit: $104,801
• Equity at exit: $135,042

10-year hold

• IRR: 27.5%
• Equity multiple: 7.92×
• Total profit: $290,412
• Equity at exit: $291,223

Cash invested: $41,972 (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 02814

• Home prices YoY: 3.0%
• Active inventory: 40
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,722 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$148 /mo · $1,781/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $364

Break-even live

Break-even rent $1,262

Max offer price $149,900

Occupancy floor 74%

Sensitivity live

Price	-10% $448	-5% $406	+0% $364	+5% $321	+10% $279
Rent	-10% $228	-5% $296	+0% $364	+5% $432	+10% $500
Rate	-1.0pp $439	-0.5pp $402	base $364	+0.5pp $325	+1.0pp $285

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-10-10
   status Pending 458-char remark

   Show marketing remark (458 chars)

   1-bedroom cottage overlooking beautiful Waterman Reservoir! This property offers a rare opportunity to own a home with water views at an affordable price. The cottage does need some work, but with a little vision and effort, it can be transformed into the perfect weekend retreat or year-round residence. Enjoy peaceful surroundings, stunning sunsets, and the chance to make this home truly your own. Don't miss out on this hidden gem with endless potential!

2. 2025-10-10
   status Pending

   Show marketing remark (458 chars)

   1-bedroom cottage overlooking beautiful Waterman Reservoir! This property offers a rare opportunity to own a home with water views at an affordable price. The cottage does need some work, but with a little vision and effort, it can be transformed into the perfect weekend retreat or year-round residence. Enjoy peaceful surroundings, stunning sunsets, and the chance to make this home truly your own. Don't miss out on this hidden gem with endless potential!

3. 2025-09-29
   listed $149,900 Active 458-char remark

   Show marketing remark (458 chars)

   1-bedroom cottage overlooking beautiful Waterman Reservoir! This property offers a rare opportunity to own a home with water views at an affordable price. The cottage does need some work, but with a little vision and effort, it can be transformed into the perfect weekend retreat or year-round residence. Enjoy peaceful surroundings, stunning sunsets, and the chance to make this home truly your own. Don't miss out on this hidden gem with endless potential!

4. 2025-09-29
   listed $149,900 Active

   Show marketing remark (458 chars)

   1-bedroom cottage overlooking beautiful Waterman Reservoir! This property offers a rare opportunity to own a home with water views at an affordable price. The cottage does need some work, but with a little vision and effort, it can be transformed into the perfect weekend retreat or year-round residence. Enjoy peaceful surroundings, stunning sunsets, and the chance to make this home truly your own. Don't miss out on this hidden gem with endless potential!

ⓘ 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: $1,781 · $148/mo
• Projected year-2 tax: $2,112 · $176/mo
• Expected delta: +$331/yr (+$28/mo · 18.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,667
• − Mortgage interest: −$8,397
• − Property taxes: −$1,781
• − Insurance: −$750
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$4,361
• Taxable income: $2,072
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $3,866/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: Glocester
• NCES district ID: 4400450
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $81,483
• Composite: 50.69/100
• National rank: #1822
• State rank: #4 of 39 in RI

Livability — Harmony

• Score: 63/100
• State rank: #26
• US rank: #15838

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harmony, RI
• City population: 63
• Population (ZIP): 7,421

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% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 13% Romanian 5% Russian 5%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▲ 11.23%
• Current HPI: 383.6236
• 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

+0.0% since first listed

4 events — show timeline

• 2025-10-10 Pending — RIS
• 2025-10-10 Pending — RIS
• 2025-09-29 Listed $149,900 RIS
• 2025-09-29 Listed $149,900 RIS

Property tax history

-0.7%/yr

Latest (2025): $1,781 · +2.9% YoY. Source: county tax records.