102 Superior St · Providence, RI 02907

$350,000

5 bd · 2.0 ba · 2,601 sqft · MultiFamily public records · 74 Days on market

Built 1920 3,049 sqft lot $135/sqft · 25% below area Est $622k · 44% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• 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: 2 units. confirmed

Listing remarks MLS

2-family investment and development opportunity in Providence offering strong upside potential with TLC needed to bring it back to life. First unit features 3 bedrooms and 1 bath, while the second unit offers 2 bedrooms and 2 baths, providing flexible living arrangements for investors or owner-occupants. A great opportunity to add value through renovation and customization to maximize returns. Ideally located in South Providence with quick access to major highways including Interstate 95 and Route 10. Just minutes to Downtown Providence for dining, nightlife, and cultural attractions. Close to Rhode Island Hospital and Hasbro Children's Hospital, as well as nearby universities including Johnson & Wales University, Rhode Island College, and Providence College. Convenient access to public transportation, shopping, restaurants, and everyday amenities. Short drive to T. F. Green International Airport and nearby recreational options like Roger Williams Park.

Key facts

• 3,049 sq ft lot
• 5 parking spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $780/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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-.
• 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.
• Zoned schools: George J. West El. School (math 7% / reading 13%, grade F, #148 of 167 statewide, top 90%, 601 students, 84% FRL); Nathanael Greene Middle (math 10% / reading 23%, grade F, #37 of 57 statewide, top 64%, 808 students, 85% FRL); Central High School (math 2% / reading 12%, grade F, #53 of 58 statewide, top 96%, 1,302 students, 87% FRL).
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 + 8.0% rent growth), your $98k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $50k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $260k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $329,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.38% ✓
• Cap rate: 11.64%
• Cash-on-cash: 19.09%
• DSCR: 1.85
• GRM: 6.0

CMA / ARV

• ARV (median comp): $621,846
• List price: $350,000
• Delta: -43.72%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.3%
• Equity multiple: 1.70×
• Total profit: $68,157
• Equity at exit: $52,186

10-year hold

• IRR: 28.2%
• Equity multiple: 4.10×
• Total profit: $303,600
• Equity at exit: $30,262

Cash invested: $98,000 (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 02907

• Home prices YoY: -20.1%
• Rents YoY: 15.3%
• Active inventory: 62
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $4,842 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$285 /mo · $3,417/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,017
• Net cashflow: $1,559

Break-even live

Break-even rent $2,868

Max offer price $350,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,757	-5% $1,658	+0% $1,559	+5% $1,460	+10% $1,361
Rent	-10% $1,177	-5% $1,368	+0% $1,559	+5% $1,750	+10% $1,942
Rate	-1.0pp $1,735	-0.5pp $1,648	base $1,559	+0.5pp $1,468	+1.0pp $1,376

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,842
Total (2 units)			$4,842

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: $87,500
• Closing costs: $10,500
• 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	19d	1	1.40mi

Listing history 29 events

1. 2026-06-21
   days on market $350,000 Active 74 DOM
2. 2026-06-18
   price $350,000 Active 71 DOM
3. 2026-06-18
   days on market $375,000 Active 71 DOM
4. 2026-06-17
   days on market $375,000 Active 70 DOM
5. 2026-06-16
   days on market $375,000 Active 69 DOM
6. 2026-06-15
   days on market $375,000 Active 68 DOM
7. 2026-06-13
   days on market $375,000 Active 66 DOM
8. 2026-06-09
   days on market $375,000 Active 62 DOM
9. 2026-06-08
   days on market $375,000 Active 61 DOM
10. 2026-06-07
    days on market $375,000 Active 60 DOM
11. 2026-06-05
    days on market $375,000 Active 57 DOM
12. 2026-06-03
    days on market $375,000 Active 56 DOM
13. 2026-06-02
    days on market $375,000 Active 55 DOM
14. 2026-06-01
    days on market $375,000 Active 54 DOM
15. 2026-05-31
    days on market $375,000 Active 53 DOM
16. 2026-05-11
    price $375,000 973-char remark

    Show marketing remark (973 chars)

    2-family investment and development opportunity in Providence offering strong upside potential with TLC needed to bring it back to life. First unit features 3 bedrooms and 1 bath, while the second unit offers 2 bedrooms and 2 baths, providing flexible living arrangements for investors or owner-occupants. A great opportunity to add value through renovation and customization to maximize returns. Ideally located in South Providence with quick access to major highways including Interstate 95 and Route 10. Just minutes to Downtown Providence for dining, nightlife, and cultural attractions. Close to Rhode Island Hospital and Hasbro Children's Hospital, as well as nearby universities including Johnson & Wales University, Rhode Island College, and Providence College. Convenient access to public transportation, shopping, restaurants, and everyday amenities. Short drive to T. F. Green International Airport and nearby recreational options like Roger Williams Park.

17. 2026-04-08
    listed $399,900 Active 973-char remark

    Show marketing remark (973 chars)

    2-family investment and development opportunity in Providence offering strong upside potential with TLC needed to bring it back to life. First unit features 3 bedrooms and 1 bath, while the second unit offers 2 bedrooms and 2 baths, providing flexible living arrangements for investors or owner-occupants. A great opportunity to add value through renovation and customization to maximize returns. Ideally located in South Providence with quick access to major highways including Interstate 95 and Route 10. Just minutes to Downtown Providence for dining, nightlife, and cultural attractions. Close to Rhode Island Hospital and Hasbro Children's Hospital, as well as nearby universities including Johnson & Wales University, Rhode Island College, and Providence College. Convenient access to public transportation, shopping, restaurants, and everyday amenities. Short drive to T. F. Green International Airport and nearby recreational options like Roger Williams Park.

18. 2020-10-20
    historical 232-char remark

    Show marketing remark (232 chars)

    2 family house for sale, featuring 3 bedrooms on 1st. floor, living, dining-kitchen and full bathroom. 2nd floor has 2 bedrooms, office room, living, dining-kitchen and two full bathrooms. Excellent for investment or owner occupied.

19. 2020-10-19
    status Pending 232-char remark

    Show marketing remark (232 chars)

    2 family house for sale, featuring 3 bedrooms on 1st. floor, living, dining-kitchen and full bathroom. 2nd floor has 2 bedrooms, office room, living, dining-kitchen and two full bathrooms. Excellent for investment or owner occupied.

20. 2020-10-13
    soldstatus $260,000 Closed 232-char remark

    Show marketing remark (232 chars)

    2 family house for sale, featuring 3 bedrooms on 1st. floor, living, dining-kitchen and full bathroom. 2nd floor has 2 bedrooms, office room, living, dining-kitchen and two full bathrooms. Excellent for investment or owner occupied.

21. 2020-10-13
    soldstatus $260,000 Closed 232-char remark

    Show marketing remark (232 chars)

    2 family house for sale, featuring 3 bedrooms on 1st. floor, living, dining-kitchen and full bathroom. 2nd floor has 2 bedrooms, office room, living, dining-kitchen and two full bathrooms. Excellent for investment or owner occupied.

22. 2020-09-06
    status Pending 232-char remark

    Show marketing remark (232 chars)

    2 family house for sale, featuring 3 bedrooms on 1st. floor, living, dining-kitchen and full bathroom. 2nd floor has 2 bedrooms, office room, living, dining-kitchen and two full bathrooms. Excellent for investment or owner occupied.

23. 2020-09-01
    listed $244,900 Active 232-char remark

    Show marketing remark (232 chars)

    2 family house for sale, featuring 3 bedrooms on 1st. floor, living, dining-kitchen and full bathroom. 2nd floor has 2 bedrooms, office room, living, dining-kitchen and two full bathrooms. Excellent for investment or owner occupied.

24. 2020-07-14
    status Pending
25. 2020-07-13
    historical
26. 2020-03-18
    listed $249,900 Active
27. 2002-10-27
    soldstatus $75,101
28. 2002-07-15
    historical
29. 2001-10-19
    listed $90,000

ⓘ 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: $3,417 · $285/mo
• Projected year-2 tax: $4,561 · $380/mo
• Expected delta: +$1,144/yr (+$95/mo · 33.5%)

ⓘ 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: $58,104
• − Mortgage interest: −$19,605
• − Property taxes: −$3,417
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,648
• − Management: −$4,648
• − Depreciation: −$10,182
• Taxable income: $13,853
• Est. tax owed @ 24.0%: −$3,325
• After-tax cash flow: $15,385/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

+316.7% since first listed

14 events — show timeline

• 2026-05-11 Price Changed $375,000 RIS
• 2026-04-08 Listed $399,900 RIS
• 2020-10-20 Listing Removed — RIS
• 2020-10-19 Pending — RIS
• 2020-10-13 Sold (MLS) $260,000 RIS
• 2020-10-13 Sold (MLS) $260,000 RIS
• 2020-09-06 Pending — RIS
• 2020-09-01 Listed $244,900 RIS
• 2020-07-14 Pending — RIS
• 2020-07-13 Listing Removed — RIS
• 2020-03-18 Listed $249,900 RIS
• 2002-10-27 Sold (MLS) $75,101 RIS
• 2002-07-15 Listing Removed — RIS
• 2001-10-19 Listed $90,000 RIS

Property tax history

+1.0%/yr

Latest (2025): $3,417 · -34.0% YoY. Source: county tax records.