872 876 Lonsdale Ave · Central Falls, RI 02863

$639,000

5 bd · 4.0 ba · 3,604 sqft · MultiFamily public records · 33 Days on market

Built 1900 3,121 sqft lot $177/sqft · at area comps Est $634k · at est.

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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 +18.3/30.0
• Appreciation +7.3/10.0
• ARV discount +7.1/15.0
• DSCR +5.8/10.0
• 1% rule +4.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome to 872-876 Lonsdale Avenue, a large three-family property. This spacious building offers a prime opportunity for investors or homeowners seeking rental income. Each unit features three bedrooms and one bathroom with separate living and dining rooms, providing ample living space for families. Partially finished basement with additional bath. Offering storage or potential for further enhancements. With some updates throughout, each unit is equipped with separate utilities. Off street parking for six cars, along with easy access to the train station and highway. Located within walking distance to the newly built Central Falls High School and close to various amenities, this property is ideally situated for both residents and tenants. Don't miss out on this fantastic investment!

Key facts

• Off street parking
• 3,121 sq ft lot
• 6 parking spots

Tags

• PARTIALLY FINISHED BASEMENT
• OFF STREET PARKING
• EASY ACCESS TO TRAIN STATION
• CLOSE TO VARIOUS AMENITIES

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $639k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive. Per door: $196/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $598k (6.4% below list).
• Recommended offer: $598k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 5.2% in Central Falls — 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 66/100 on livability (#21 in RI) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing B; Watch: schools F, amenities F, commute F.
• Central Falls (suburban): math 2% / reading 8% proficiency, ranked #38 of 39 in RI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 33 active listings in the ZIP; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $5,979/mo this rent would consume 146% of the median local household income ($49k/yr) (locally 1380% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $34k of equity ($4k loan paydown + $29k appreciation (4.6% local appreciation)).
• Providence County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $179k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($620k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 28y 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 $245k; list at $639k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $597,900 (6.4% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.94% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• GRM: 8.9

CMA / ARV

• ARV (median comp): $633,618
• List price: $639,000
• Delta: 0.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 46 Cleveland St	0.06mi	6/2.0 (+1)	3,699 (+3%)	12mo	$545,000	$147	70
129 Cleveland St	0.20mi	5/3.0	3,263 (-10%)	10mo	$565,000	$173	63
573 Hunt St	0.20mi	6/3.0 (+1)	3,415 (-5%)	22mo	$600,000	$176	54
71 South St	0.71mi	5/2.0	3,504 (-3%)	0mo	$590,000	$168	54
70 72 Chestnut St	0.69mi	5/2.0	3,675 (+2%)	8mo	$622,000	$169	50
645 Lonsdale Ave	0.34mi	5/2.0	3,281 (-9%)	20mo	$522,000	$159	45
82 84 Ash St	0.66mi	6/2.0 (+1)	3,200 (-11%)	24mo	$510,000	$159	17

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

Projected returns pro-forma

4.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.95×
• Total profit: $169,220
• Equity at exit: $345,722

10-year hold

• IRR: 15.9%
• Equity multiple: 3.72×
• Total profit: $486,810
• Equity at exit: $583,537

Cash invested: $178,920 (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 02863

• Home prices YoY: 1.2%
• Active inventory: 33
• Price-to-rent: 26.7×

Monthly cashflow live

• Estimated rent: $5,979 high
• Mortgage (P&I): −$3,351
• Tax from tax record: −$518 /mo · $6,222/yr
• Insurance: −$266
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,256
• Net cashflow: $588

Break-even live

Break-even rent $5,235

Max offer price $639,000

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,979
Total (3 units)			$5,979

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: $159,750
• Closing costs: $19,170
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-19
   status Pending 793-char remark

   Show marketing remark (793 chars)

   Welcome to 872-876 Lonsdale Avenue, a large three-family property. This spacious building offers a prime opportunity for investors or homeowners seeking rental income. Each unit features three bedrooms and one bathroom with separate living and dining rooms, providing ample living space for families. Partially finished basement with additional bath. Offering storage or potential for further enhancements. With some updates throughout, each unit is equipped with separate utilities. Off street parking for six cars, along with easy access to the train station and highway. Located within walking distance to the newly built Central Falls High School and close to various amenities, this property is ideally situated for both residents and tenants. Don't miss out on this fantastic investment!

2. 2026-05-07
   status Active 793-char remark

   Show marketing remark (793 chars)

   Welcome to 872-876 Lonsdale Avenue, a large three-family property. This spacious building offers a prime opportunity for investors or homeowners seeking rental income. Each unit features three bedrooms and one bathroom with separate living and dining rooms, providing ample living space for families. Partially finished basement with additional bath. Offering storage or potential for further enhancements. With some updates throughout, each unit is equipped with separate utilities. Off street parking for six cars, along with easy access to the train station and highway. Located within walking distance to the newly built Central Falls High School and close to various amenities, this property is ideally situated for both residents and tenants. Don't miss out on this fantastic investment!

3. 2026-04-22
   status Pending 793-char remark

   Show marketing remark (793 chars)

   Welcome to 872-876 Lonsdale Avenue, a large three-family property. This spacious building offers a prime opportunity for investors or homeowners seeking rental income. Each unit features three bedrooms and one bathroom with separate living and dining rooms, providing ample living space for families. Partially finished basement with additional bath. Offering storage or potential for further enhancements. With some updates throughout, each unit is equipped with separate utilities. Off street parking for six cars, along with easy access to the train station and highway. Located within walking distance to the newly built Central Falls High School and close to various amenities, this property is ideally situated for both residents and tenants. Don't miss out on this fantastic investment!

4. 2026-03-31
   listed $639,000 Active 793-char remark

   Show marketing remark (793 chars)

   Welcome to 872-876 Lonsdale Avenue, a large three-family property. This spacious building offers a prime opportunity for investors or homeowners seeking rental income. Each unit features three bedrooms and one bathroom with separate living and dining rooms, providing ample living space for families. Partially finished basement with additional bath. Offering storage or potential for further enhancements. With some updates throughout, each unit is equipped with separate utilities. Off street parking for six cars, along with easy access to the train station and highway. Located within walking distance to the newly built Central Falls High School and close to various amenities, this property is ideally situated for both residents and tenants. Don't miss out on this fantastic investment!

5. 2018-03-06
   soldstatus $245,000
6. 2017-10-03
   historical
7. 2017-04-12
   price $230,000
8. 2017-04-12
   status Active
9. 2017-02-18
   historical
10. 2016-12-12
    listed $250,000 Active - New
11. 2002-12-03
    soldstatus $169,900
12. 2002-10-11
    historical
13. 2002-09-27
    listed $169,900
14. 1998-07-06
    historical
15. 1998-04-06
    listed $89,900

ⓘ 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: $6,222 · $518/mo
• Projected year-2 tax: $8,319 · $693/mo
• Expected delta: +$2,097/yr (+$175/mo · 33.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $71,748
• − Mortgage interest: −$35,794
• − Property taxes: −$6,222
• − Insurance: −$3,195
• − Repairs & maintenance: −$5,740
• − Management: −$5,740
• − Depreciation: −$18,589
• Taxable loss: −$3,532
• Est. tax savings @ 24.0%: +$848
• After-tax cash flow: $7,900/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: Central Falls
• NCES district ID: 4400120
• Math proficiency: 2% ▼ -6.00%
• Reading proficiency: 8% ▼ -5.00%
• Median HH income: $30,478
• Composite: 3.59/100
• National rank: #10071
• State rank: #38 of 39 in RI

Livability — Central Falls

• Score: 66/100
• State rank: #21
• US rank: #11321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central Falls, RI
• County: Providence County · 548,917 people
• City population: 22,701
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 22,701
• Household income: $49,285
• Rent vs Own: 74.4% rent · 25.6% own
• Severe rent burden: 1380.0

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: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 29% White 16% Black 8%
• Hispanic origin (detail): Mexican 6% Puerto Rican 15% Dominican 7%
• Common ancestry: Lithuanian 4% Russian 4% Romanian 1%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 29% English-only · Spanish 62% Other Indo-European 5% French/Haitian/Cajun 3%

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: ▲ 4.58%
• Current HPI: 373.2598
• Rent YoY: —
• 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

+610.8% since first listed

15 events — show timeline

• 2026-05-19 Pending — RIS
• 2026-05-07 Relisted — RIS
• 2026-04-22 Pending — RIS
• 2026-03-31 Listed $639,000 RIS
• 2018-03-06 Sold (Public Records) $245,000 Public Records
• 2017-10-03 Listing Removed — RIS
• 2017-04-12 Price Changed $230,000 RIS
• 2017-04-12 Relisted — RIS
• 2017-02-18 Listing Removed — RIS
• 2016-12-12 Listed $250,000 RIS
• 2002-12-03 Sold (MLS) $169,900 RIS
• 2002-10-11 Listing Removed — RIS
• 2002-09-27 Listed $169,900 RIS
• 1998-07-06 Listing Removed — RIS
• 1998-04-06 Listed $89,900 RIS

Property tax history

+6.3%/yr

Latest (2025): $6,222 · -5.8% YoY. Source: county tax records.