195 Bellevue Ave · Providence, RI 02907

$669,900

6 bd · 2.0 ba · 2,802 sqft · MultiFamily public records · 7 Days on market

Built 1910 4,700 sqft lot

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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).

• Cash flow +12.1/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• 1% rule +2.5/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Welcome to 195 Bellevue Ave a two-family home with tons of potential! The first floor is finished, requiring only minor work to make it your own, while the second floor and attic need some TLC to restore their full charm. Located in a central area of Providence, this property is close to schools, hospitals, and recreational centers, offering convenience and accessibility to everything the city has to offer. The property is being sold as-is, allowing you to bring your vision and make a great profit. Whether you are an investor or a homeowner with a renovation plan, this home offers excellent potential. Preferably looking for cash buyers or private lenders for a smooth and quick transaction. Don't miss the opportunity to turn this diamond in the rough into a profitable asset!

Key facts

• New roof
• Updated plumbing
• 4,700 sq ft lot

Tags

• RENOVATED TWO-FAMILY HOME
• NEW ROOF
• UPDATED PLUMBING
• UPGRADED ELECTRICAL SYSTEMS

Property features AI

Finance

• Financial info: Multifamily property with 2 total units in 1 building

Exterior

• Parking: No garage; Total of 6 parking spaces
• Utilities: 100 amp electrical service; Public sewer; Connected water
• Home design: Three-story building; Single building containing multiple units; Above-grade finished area approximately 4,059
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Lot approximately 0.108 acres

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Three-bedroom unit (one unit); Four-bedroom or larger unit (one unit with six bedrooms); Three-bedroom unit (another unit)
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: Three full bathrooms total across units; Each three-bedroom unit has one full bath; The larger unit has two full baths
• Heating & cooling: Gas heating; Steam heating; Window air conditioning units
• Interior features: Stall shower; Partially finished basement; Exterior and interior basement entries
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $670k.

Deal economics

• At list price, monthly cash flow is $-150 ($-2k/yr) — negative. Per door: $-75/mo.
• To cash-flow at today's rent, offer at most $643k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $499k (25.5% below list).
• Recommended offer: $499k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.0% 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 (+15.3%/yr); 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $4,992/mo this rent would consume 114% of the median local household income ($52k/yr) (locally 2189% 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 $5k of loan paydown is wiped out by about $20k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 19y 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 $420k; list at $670k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 71% 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 $499,200 (25.5% 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. 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 1910 — 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. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.51×
• Total profit: $-91,956
• Equity at exit: $99,884

10-year hold

• IRR: 1.7%
• Equity multiple: 1.14×
• Total profit: $26,695
• Equity at exit: $57,921

Cash invested: $187,572 (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 02907

• Home prices YoY: -20.1%
• Rents YoY: 15.3%
• Active inventory: 62
• Price-to-rent: 22.4×

Monthly cashflow live

• Estimated rent: $4,992 high
• Mortgage (P&I): −$3,513
• Tax from tax record: −$301 /mo · $3,614/yr
• Insurance: −$279
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,048
• Net cashflow: $-150

Break-even live

Break-even rent $5,181

Max offer price $643,465

Occupancy floor 98%

Sensitivity live

Price	-10% $230	-5% $40	+0% $-150	+5% $-339	+10% $-529
Rent	-10% $-544	-5% $-347	+0% $-150	+5% $48	+10% $245
Rate	-1.0pp $188	-0.5pp $21	base $-150	+0.5pp $-323	+1.0pp $-500

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,992
Total (2 units)			$4,992

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: $167,475
• Closing costs: $20,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Calef St Unit 16 Cranston, RI	5.0	3.0	3000	$3,500	$1.17	18d	1	1.35mi

Listing history 6 events

1. 2026-06-18
   status $669,900 Pending 7 DOM
2. 2026-06-17
   days on market $669,900 Active 7 DOM
3. 2026-06-16
   days on market $669,900 Active 6 DOM
4. 2026-06-15
   days on market $669,900 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $669,900 Active 3 DOM

ⓘ 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: $3,614 · $301/mo
• Projected year-2 tax: $7,267 · $606/mo
• Expected delta: +$3,653/yr (+$304/mo · 101.1%)

ⓘ 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 71% 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: $59,904
• − Mortgage interest: −$37,525
• − Property taxes: −$3,614
• − Insurance: −$3,350
• − Repairs & maintenance: −$4,792
• − Management: −$4,792
• − Depreciation: −$19,488
• Taxable loss: −$13,657
• Est. tax savings @ 24.0%: +$3,278
• After-tax cash flow: $1,482/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): 31,461
• Household income: $52,485
• Rent vs Own: 63.7% rent · 36.3% own
• Severe rent burden: 2189.0

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 (70%)
• Race & ethnicity: Hispanic / Latino 70% Two or more races 26% Black 10% White 10% Asian 5% Native American 2%
• Hispanic origin (detail): Puerto Rican 7% Dominican 50%
• Common ancestry: Swiss 1% Lithuanian 1% Hispanic 1%
• Foreign-born: 55% · Canada, Jamaica, Philippines
• Languages at home: 25% English-only · Spanish 67% Other Asian/Pacific 3% 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: ▼ -125.19%
• Current HPI: 498.142
• Rent YoY: ▲ 15.32%
• 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

+748.0% since first listed

29 events — show timeline

• 2026-06-10 Listed $669,900 RIS
• 2025-10-17 Sold (Public Records) $420,000 Public Records
• 2025-10-17 Sold (Public Records) $420,000 Public Records
• 2025-10-17 Sold (MLS) $420,000 RIS
• 2025-08-08 Pending — RIS
• 2025-06-30 Listed $460,000 RIS
• 2019-03-22 Sold (Public Records) $167,000 Public Records
• 2019-03-22 Sold (MLS) $167,000 RIS
• 2018-12-18 Pending — RIS
• 2018-12-14 Price Changed $169,900 RIS
• 2018-09-27 Price Changed $189,900 RIS
• 2018-07-11 Listed $219,900 RIS
• 2016-11-08 Price Changed $134,900 RIS
• 2016-11-08 Price Changed $175,000 RIS
• 2013-12-19 Price Changed $65,000 RIS
• 2013-12-19 Price Changed $94,900 RIS
• 2009-11-03 Sold (MLS) $34,000 RIS
• 2009-09-18 Listing Removed — RIS
• 2009-02-18 Listed $94,900 RIS
• 2009-02-17 Listing Removed — RIS
• 2008-06-12 Listed $134,900 RIS
• 2008-06-10 Listing Removed — RIS
• 2008-01-29 Listed $159,900 RIS
• 2008-01-04 Listing Removed — RIS
• 2007-10-06 Listed $186,500 RIS
• 2007-07-28 Listing Removed — RIS
• 2007-03-28 Listed $279,900 RIS
• 2003-07-08 Sold (Public Records) $143,000 Public Records
• 2002-09-23 Sold (Public Records) $79,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $3,614 · -41.9% YoY. Source: county tax records.