14 Dome St · Providence, RI 02908

$524,500

4 bd · 2.5 ba · 1,680 sqft · MultiFamily public records · 6 Days on market

Built 1900 4,000 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 +29.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Attention investors/flippers: Two family house in need of rehab located near PC and everything Providence has to offer. Cash/private financing offers only.

Key facts

• 4,000 sq ft lot
• 6 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $524k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $524k).
• Cap rate 10.6% vs local median 4.2% in 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 84/100 on livability (#2 in RI, #794 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: employment C-, schools F.
• Providence (urban): math 8% / reading 16% proficiency, ranked #34 of 39 in RI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 161 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $6,493/mo this rent would consume 107% of the median local household income ($73k/yr) (locally 1561% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $147k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y 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 $340k; list at $524k implies a 54% 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, 70% 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 $524,500

Questions for the listing agent

1. Built in 1900 — 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 F-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 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: 1.24% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.56%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.46% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.36×
• Total profit: $52,613
• Equity at exit: $78,205

10-year hold

• IRR: 19.9%
• Equity multiple: 2.86×
• Total profit: $272,452
• Equity at exit: $45,349

Cash invested: $146,860 (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 02908

• Home prices YoY: -27.1%
• Rents YoY: 5.5%
• Active inventory: 161
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $6,493 medium
• Mortgage (P&I): −$2,751
• Tax from tax record: −$256 /mo · $3,073/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,364
• Net cashflow: $1,904

Break-even live

Break-even rent $4,082

Max offer price $524,500

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$6,492
Total (3 units)			$6,493

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: $131,125
• Closing costs: $15,735
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Eaton St Providence, RI	3.0	1.0	1350	$2,550	$1.89	4d	1	0.08mi
38 Tyndall Ave Providence, RI	4.0	2.0	1500	$3,500	$2.33	19d	1	0.25mi
711 Academy Ave Unit 2 Providence, RI	3.0	1.0	1565	$2,400	$1.53	4d	1	0.88mi
729 Academy Ave Providence, RI	3.0	1.0	1261	$2,395	$1.90	17d	1	0.90mi
788 Academy Ave Unit 2 Providence, RI	3.0	1.0	1100	$2,500	$2.27	23d	1	0.99mi
23 Concannon St Providence, RI	3.0	2.0	1484	$2,700	$1.82	23d	1	1.01mi
44 Hall St Unit 2 Providence, RI	3.0	2.0	1200	$2,850	$2.38	23d	1	1.06mi
1189 Smith St Providence, RI	3.0	1.5	1112	$2,400	$2.16	23d	1	1.19mi
191 Russo St Unit 1 Providence, RI	4.0	2.0	1500	$3,000	$2.00	1d	1	1.21mi
270 Langdon St Unit 1 Providence, RI	3.0	1.0	1189	$2,300	$1.93	11d	1	1.36mi
130 Smart St Providence, RI	4.0	2.0	1743	$3,500	$2.01	1d	1	1.42mi

Listing history 13 events

1. 2026-04-06
   status Pending
2. 2026-03-31
   listed $524,500 Active
3. 2025-08-29
   soldstatus $340,000
4. 2025-08-28
   soldstatus $340,000 Closed 155-char remark

   Show marketing remark (155 chars)

   Attention investors/flippers: Two family house in need of rehab located near PC and everything Providence has to offer. Cash/private financing offers only.

5. 2025-07-15
   status Pending 155-char remark

   Show marketing remark (155 chars)

   Attention investors/flippers: Two family house in need of rehab located near PC and everything Providence has to offer. Cash/private financing offers only.

6. 2025-07-14
   listed $349,000 Active 155-char remark

   Show marketing remark (155 chars)

   Attention investors/flippers: Two family house in need of rehab located near PC and everything Providence has to offer. Cash/private financing offers only.

7. 2025-05-05
   historical
8. 2025-04-14
   listed $349,000 Active
9. 2000-10-01
   historical
10. 2000-06-01
    soldstatus $68,000
11. 2000-03-21
    listed $80,000
12. 1999-06-28
    soldstatus $42,000
13. 1999-02-23
    listed $54,900

ⓘ 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: $3,073 · $256/mo
• Projected year-2 tax: $5,811 · $484/mo
• Expected delta: +$2,738/yr (+$228/mo · 89.1%)

ⓘ 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 ≥97°F today · 15 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: $77,916
• − Mortgage interest: −$29,380
• − Property taxes: −$3,073
• − Insurance: −$2,622
• − Repairs & maintenance: −$6,233
• − Management: −$6,233
• − Depreciation: −$15,258
• Taxable income: $15,116
• Est. tax owed @ 24.0%: −$3,628
• After-tax cash flow: $19,224/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: Providence
• NCES district ID: 4400900
• Math proficiency: 8% ▼ -4.00%
• Reading proficiency: 16% ▼ -2.00%
• Median HH income: $38,197
• Composite: 10.12/100
• National rank: #9803
• State rank: #34 of 39 in RI

Livability — Providence

• Score: 84/100
• State rank: #2
• US rank: #794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Providence, RI
• County: Providence County · 548,917 people
• City population: 212,734
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 39,500
• Household income: $73,081
• Rent vs Own: 54.0% rent · 46.0% own
• Severe rent burden: 1561.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 33% Two or more races 22% Black 15% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 5% Dominican 16%
• Common ancestry: Swiss 4% Hispanic 3% Russian 3%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 53% English-only · Spanish 36% French/Haitian/Cajun 4% Other Indo-European 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: ▼ -151.12%
• Current HPI: 407.0502
• Rent YoY: ▲ 5.46%
• 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

+855.4% since first listed

13 events — show timeline

• 2026-04-06 Pending — RIS
• 2026-03-31 Listed $524,500 RIS
• 2025-08-29 Sold (Public Records) $340,000 Public Records
• 2025-08-28 Sold (MLS) $340,000 RIS
• 2025-07-15 Pending — RIS
• 2025-07-14 Listed $349,000 RIS
• 2025-05-05 Listing Removed — RIS
• 2025-04-14 Listed $349,000 RIS
• 2000-10-01 Listing Removed — RIS
• 2000-06-01 Sold (Public Records) $68,000 Public Records
• 2000-03-21 Listed $80,000 RIS
• 1999-06-28 Sold (Public Records) $42,000 Public Records
• 1999-02-23 Listed $54,900 RIS

Property tax history

-1.5%/yr

Latest (2025): $3,073 · -34.8% YoY. Source: county tax records.