269 6th Ave · Woonsocket, RI 02895

$450,000

4 bd · 2.0 ba · 2,484 sqft · MultiFamily public records · 20 Days on market

Built 1920 10,019 sqft lot $181/sqft · 22% below area Est $574k · 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 +10.0/30.0
• Rent growth +4.8/5.0
• Livability +3.2/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• 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

This beautiful two-family, located near the end of the dead-end street, Sixth Avenue, has maintenance-free vinyl siding, a newer roof, a new heating system, and updated electrical. Hardwoods through both the first and second floors.

Key facts

• Updated electrical
• Newer roof
• Hardwoods

Tags

• MAINTENANCE-FREE VINYL SIDING
• NEWER ROOF
• NEW HEATING SYSTEM
• UPDATED ELECTRICAL
• HARDWOODS

Property features AI

Finance

• Financial info: Property is a 2-unit multi-family building (2 buildings); Each unit approx. 1,242 area; Each unit actual rent: $1,200; Operating expenses listed at $1,200
• HOA & community: Near hospital, schools, public transportation, recreation area, and restaurants

Exterior

• Parking: Detached garage; 2 garage spaces; 4 parking spaces total (2 covered)
• Utilities: Public water (connected); Public sewer (connected); Electric service: 100 amps
• Home design: 2-story property; Condition: fixer; Above-grade finished area approximately 2,484
• Construction: Plaster, wood siding, and vinyl siding exterior; Concrete perimeter foundation
• Exterior features: Porch; Paved driveway

Interior

• Kitchen: Dishwasher
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: Hardwood; Vinyl; Carpet
• Bathrooms: 2 full bathrooms total; Each unit has 1 full bathroom
• Heating & cooling: Heating present; Baseboard heating; Gas heating; Hot water heating; Oil heating; Space heaters; Zoned heating
• Interior features: Storm and thermal windows; Tub/shower; Full unfinished basement with interior entry; Total of 10 rooms
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $-273 ($-3k/yr) — negative. Per door: $-136/mo.
• To cash-flow at today's rent, offer at most $402k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (24.5% below list).
• Recommended offer: $340k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.1% in Woonsocket — 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 65/100 on livability (#24 in RI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime C-, schools D-, amenities F.
• Woonsocket (suburban): math 5% / reading 14% proficiency, ranked #37 of 39 in RI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 165 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 776 units permitted in Providence County in 2024 (229 in 5+ unit buildings).
• At $3,398/mo this rent would consume 67% of the median local household income ($61k/yr) (locally 2658% 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 $3k of loan paydown is wiped out by about $14k 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 20 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $116k; list at $450k implies a 288% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 64% 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 $339,800 (24.5% 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 1920 — 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 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?
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: 0.76% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.60%
• DSCR: 0.88
• GRM: 11.0

CMA / ARV

• ARV (median comp): $574,110
• List price: $450,000
• Delta: -21.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
435 S Main St	0.58mi	4/2.0	2,600 (+5%)	2mo	$510,000	$196	64
56 Asylum St	0.33mi	4/2.0	2,536 (+2%)	22mo	$435,000	$172	63
90 Meadow Rd	0.71mi	4/2.0	2,520 (+1%)	19mo	$493,500	$196	48

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

Projected returns pro-forma

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

5-year hold

• IRR: -15.5%
• Equity multiple: 0.43×
• Total profit: $-72,377
• Equity at exit: $67,096

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-3,834
• Equity at exit: $38,908

Cash invested: $126,000 (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 02895

• Rents YoY: 9.2%
• Active inventory: 165
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $3,398 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$410 /mo · $4,918/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $-273

Break-even live

Break-even rent $3,743

Max offer price $401,815

Occupancy floor —

Sensitivity live

Price	-10% $-18	-5% $-145	+0% $-273	+5% $-400	+10% $-527
Rent	-10% $-541	-5% $-407	+0% $-273	+5% $-139	+10% $-4
Rate	-1.0pp $-46	-0.5pp $-158	base $-273	+0.5pp $-389	+1.0pp $-508

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,398
Total (2 units)			$3,398

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 High St Unit 1R Woonsocket, RI	4.0	2.0	1750	$2,195	$1.25	15d	1	0.64mi
114 Main St Unit 1A Woonsocket, RI	3.0	2.0	1825	$2,400	$1.32	2d	1	0.83mi
122 Canal St Unit 1 Blackstone, MA	4.0	2.0	1904	$4,000	$2.10	2d	1	1.19mi
43 Rivulet St Unit 1 Woonsocket, RI	3.0	1.0	2312	$1,900	$0.82	12d	1	1.22mi
109 Hemond Ave Woonsocket, RI	3.0	1.0	2284	$2,000	$0.88	18d	1	1.43mi

Listing history 2 events

1. 2026-05-01
   listed $450,000 Active 232-char remark
2. 2000-09-29
   soldstatus $116,000

ⓘ 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: $4,918 · $410/mo
• Projected year-2 tax: $6,126 · $511/mo
• Expected delta: +$1,208/yr (+$101/mo · 24.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $40,776
• − Mortgage interest: −$25,207
• − Property taxes: −$4,918
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,262
• − Management: −$3,262
• − Depreciation: −$13,091
• Taxable loss: −$11,214
• Est. tax savings @ 24.0%: +$2,691
• After-tax cash flow: $-582/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: Woonsocket
• NCES district ID: 4401200
• Math proficiency: 5% ▼ -7.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $37,757
• Composite: 8.01/100
• National rank: #9923
• State rank: #37 of 39 in RI

Livability — Woonsocket

• Score: 65/100
• State rank: #24
• US rank: #12968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woonsocket, RI
• County: Providence County · 548,917 people
• City population: 43,521
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 43,521
• Household income: $61,059
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 2658.0

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 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Asian 7% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 15% Dominican 4%
• Common ancestry: Lithuanian 13% Romanian 3% Russian 3%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 17% Other Asian/Pacific 4% Other Indo-European 4%

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: ▼ -431.80%
• Current HPI: 357.8858
• Rent YoY: ▲ 9.15%
• 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

+287.9% since first listed

3 events — show timeline

• 2026-05-22 Pending — RIS
• 2026-05-01 Listed $450,000 RIS
• 2000-09-29 Sold (Public Records) $116,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $4,918 · +11.3% YoY. Source: county tax records.