20 Pennsylvania Ave · Providence, RI 02905

$300,000

3 bd · 1.0 ba · 575 sqft · SingleFamily public records · 79 Days on market

Built 1989 3,800 sqft lot $522/sqft · 48% above area Est $387k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.7/30.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming single-family home offers three bedrooms, one full bathroom, and a convenient half bathroom. The property also features a good-sized, fenced-in yard, perfect for privacy and outdoor activities. Great for first-time homebuyers or those looking to downsize. Close proximity to schools, parks, public transportation, and restaurants.

Key facts

• Fenced-in yard
• 3,800 sq ft lot
• 4 parking spots

Tags

• FENCED-IN YARD
• CLOSE PROXIMITY TO SCHOOLS
• CLOSE PROXIMITY TO PARKS
• CLOSE PROXIMITY TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-199 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (26.8% below list).
• Recommended offer: $220k (26.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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 (+3.5%/yr); 75 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• This rent runs 42% of the median local income ($63k/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 $9k 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

• It's been on market 79 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y 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 $130k; list at $300k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 74% 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 $219,665 (26.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.73% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• GRM: 11.4

CMA / ARV

• ARV (median comp): $386,721
• List price: $300,000
• Delta: -22.42%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.45% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-60,370
• Equity at exit: $44,731

10-year hold

• IRR: -13.0%
• Equity multiple: 0.23×
• Total profit: $-65,001
• Equity at exit: $25,939

Cash invested: $84,000 (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 02905

• Rents YoY: 3.5%
• Active inventory: 75
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,197 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$237 /mo · $2,839/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-199

Break-even live

Break-even rent $2,449

Max offer price $264,764

Occupancy floor —

Sensitivity live

Price	-10% $-30	-5% $-115	+0% $-199	+5% $-284	+10% $-369
Rent	-10% $-373	-5% $-286	+0% $-199	+5% $-113	+10% $-26
Rate	-1.0pp $-48	-0.5pp $-123	base $-199	+0.5pp $-277	+1.0pp $-356

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-13
   statusdays on market $300,000 Pending 79 DOM
2. 2026-06-09
   days on market $300,000 Active 78 DOM
3. 2026-06-08
   days on market $300,000 Active 77 DOM
4. 2026-06-07
   days on market $300,000 Active 76 DOM
5. 2026-06-05
   days on market $300,000 Active 73 DOM
6. 2026-06-03
   days on market $300,000 Active 72 DOM
7. 2026-06-02
   days on market $300,000 Active 71 DOM
8. 2026-06-01
   days on market $300,000 Active 70 DOM
9. 2026-05-31
   days on market $300,000 Active 69 DOM
10. 2026-03-23
    listed $300,000 Active 344-char remark

    Show marketing remark (344 chars)

    This charming single-family home offers three bedrooms, one full bathroom, and a convenient half bathroom. The property also features a good-sized, fenced-in yard, perfect for privacy and outdoor activities. Great for first-time homebuyers or those looking to downsize. Close proximity to schools, parks, public transportation, and restaurants.

11. 2026-03-13
    historical
12. 2026-02-11
    price $315,000
13. 2025-09-17
    listed $325,000 Active
14. 2025-09-12
    historical
15. 2025-07-17
    price $330,000
16. 2025-05-20
    listed $340,000 Active
17. 2005-04-05
    soldstatus $130,500
18. 2003-12-15
    soldstatus $90,000
19. 2003-10-13
    historical
20. 2003-10-02
    listed $94,900
21. 1999-10-29
    soldstatus $51,000
22. 1998-06-19
    historical
23. 1997-12-19
    listed $59,927
24. 1997-01-14
    soldstatus $30,000
25. 1996-06-21
    listed $34,900
26. 1989-09-01
    soldstatus $70,000

ⓘ 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: $2,839 · $237/mo
• Projected year-2 tax: $3,864 · $322/mo
• Expected delta: +$1,026/yr (+$85/mo · 36.1%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $26,360
• − Mortgage interest: −$16,805
• − Property taxes: −$2,839
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,109
• − Management: −$2,109
• − Depreciation: −$8,727
• Taxable loss: −$7,729
• Est. tax savings @ 24.0%: +$1,855
• After-tax cash flow: $-539/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): 25,012
• Household income: $62,908
• Rent vs Own: 50.3% rent · 49.7% own
• Severe rent burden: 1220.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 41% White 38% Black 15% Two or more races 15% Asian 3%
• Hispanic origin (detail): Puerto Rican 5% Dominican 30%
• Common ancestry: Russian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 30% · Canada, China
• Languages at home: 57% English-only · Spanish 34% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -396.84%
• Current HPI: 387.2525
• Rent YoY: ▲ 3.45%
• 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

+328.6% since first listed

17 events — show timeline

• 2026-03-23 Listed $300,000 RIS
• 2026-03-13 Listing Removed — RIS
• 2026-02-11 Price Changed $315,000 RIS
• 2025-09-17 Listed $325,000 RIS
• 2025-09-12 Listing Removed — RIS
• 2025-07-17 Price Changed $330,000 RIS
• 2025-05-20 Listed $340,000 RIS
• 2005-04-05 Sold (Public Records) $130,500 Public Records
• 2003-12-15 Sold (Public Records) $90,000 Public Records
• 2003-10-13 Listing Removed — RIS
• 2003-10-02 Listed $94,900 RIS
• 1999-10-29 Sold (Public Records) $51,000 Public Records
• 1998-06-19 Listing Removed — RIS
• 1997-12-19 Listed $59,927 RIS
• 1997-01-14 Sold (Public Records) $30,000 Public Records
• 1996-06-21 Listed $34,900 RIS
• 1989-09-01 Sold (Public Records) $70,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $2,839 · -39.1% YoY. Source: county tax records.