11 B Krzak Rd · North Kingstown, RI 02852

$129,900

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 47 Days on market

Built 1983 $517/mo HOA · 19% of rent

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2BEDROOM IN EXCELLENT CONDITION FULLY APPLIANCED NO DOGS SUBJECT TO SELLER FINDING SUITABLE HOUSING

Key facts

• Newer stove
• Newer flooring
• Newer refrigerator

Tags

• NEWER FLOORING
• NEWER REFRIGERATOR
• NEWER STOVE
• LARGE COMPOSITE DECK
• BREAKFAST BAR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• North Kingstown (suburban): math 47% / reading 63% proficiency, ranked #5 of 39 in RI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Forest Park El. School (math 67% / reading 67%, grade B+, #5 of 167 statewide, top 3%, 260 students, 16% FRL); Davisville Middle School (math 33% / reading 48%, grade F, #9 of 57 statewide, top 14%, 450 students, 28% FRL); North Kingstown Sr. High (math 55% / reading 83%, grade B, #4 of 58 statewide, top 5%, 1,374 students, 17% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: 103 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 311 units permitted in Washington County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 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 $27k; list at $130k implies a 381% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.12% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.20%
• DSCR: 2.25
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 22.5%
• Equity multiple: 1.93×
• Total profit: $33,684
• Equity at exit: $19,369

10-year hold

• IRR: 30.6%
• Equity multiple: 3.77×
• Total profit: $100,648
• Equity at exit: $11,231

Cash invested: $36,372 (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 02852

• Active inventory: 103
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,756 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$54
• HOA: −$517
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $855

Break-even live

Break-even rent $1,674

Max offer price $129,900

Occupancy floor 64%

Sensitivity live

Price	-10% $928	-5% $891	+0% $855	+5% $818	+10% $781
Rent	-10% $637	-5% $746	+0% $855	+5% $963	+10% $1,072
Rate	-1.0pp $920	-0.5pp $888	base $855	+0.5pp $821	+1.0pp $787

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25 Mitola Dr Unit 1 North Kingstown, RI	3.0	1.0	1050	$3,100	$2.95	3d	1	0.23mi
71 Ranger Rd North Kingstown, RI	2.0	1.0	1100	$2,800	$2.55	3d	1	0.32mi

HOA detail

• Monthly dues: $517 · $6,204/yr

Listing history 9 events

1. 2026-04-25
   status Pending
2. 2026-03-09
   listed $129,900 Active
3. 2026-02-04
   historical
4. 2026-01-24
   price $137,900
5. 2025-10-27
   listed $139,900 Active
6. 2002-12-16
   soldstatus $27,000 99-char remark

   Show marketing remark (99 chars)

   2BEDROOM IN EXCELLENT CONDITION FULLY APPLIANCED NO DOGS SUBJECT TO SELLER FINDING SUITABLE HOUSING

7. 2002-11-29
   historical 99-char remark

   Show marketing remark (99 chars)

   2BEDROOM IN EXCELLENT CONDITION FULLY APPLIANCED NO DOGS SUBJECT TO SELLER FINDING SUITABLE HOUSING

8. 2002-09-11
   listed $29,900 99-char remark

   Show marketing remark (99 chars)

   2BEDROOM IN EXCELLENT CONDITION FULLY APPLIANCED NO DOGS SUBJECT TO SELLER FINDING SUITABLE HOUSING

9. 1996-10-19
   listed $7,500

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $1,479 · $123/mo
• Expected delta: +$638/yr (+$53/mo · 75.9%)

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

Climate risk First Street

• 🌡 Heat 5/10 Major
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,069
• − Mortgage interest: −$7,276
• − Property taxes: −$841
• − Insurance: −$650
• − Repairs & maintenance: −$2,646
• − Management: −$2,646
• − HOA: −$6,204
• − Depreciation: −$3,779
• Taxable income: $9,028
• Est. tax owed @ 24.0%: −$2,167
• After-tax cash flow: $8,089/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: North Kingstown
• NCES district ID: 4400750
• Math proficiency: 47% ▼ -5.00%
• Reading proficiency: 63% ▬ 0.00%
• Median HH income: $80,380
• Composite: 49.77/100
• National rank: #1962
• State rank: #5 of 39 in RI

Livability — North Kingstown

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Washington County · 79,886 people
• City population: 23,406
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 23,406
• Household income: $118,643
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 505.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 123,856 people
• By 2030: 121,962 · -1.5%
• By 2040: 115,902 · -6.4%
• By 2050: 107,078 · -13.5%
• By 2075: 92,575 · -25.3%
• By 2100: 77,407 · -37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Asian 3%
• Common ancestry: Lithuanian 9% Russian 6% Romanian 4%
• Foreign-born: 6% · China, Canada
• Languages at home: 93% English-only · Other Indo-European 2% Other Asian/Pacific 2% Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: D (+15.0) · D 56.4% · R 41.4% · Other 2.3%
• 2008→2024 swing: -24.3pp toward R · 2008: 39.3pp · 2024: 15.0pp
• All cycles: 2024: D+15.0 2020: D+19.4 2016: D+10.0 2012: D+16.8 2008: D+39.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -548.20%
• Current HPI: 367.4748
• 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

+1632.0% since first listed

9 events — show timeline

• 2026-04-25 Pending — RIS
• 2026-03-09 Listed $129,900 RIS
• 2026-02-04 Listing Removed — RIS
• 2026-01-24 Price Changed $137,900 RIS
• 2025-10-27 Listed $139,900 RIS
• 2002-12-16 Sold (MLS) $27,000 RIS
• 2002-11-29 Listing Removed — RIS
• 2002-09-11 Listed $29,900 RIS
• 1996-10-19 Listed $7,500 RIS

Property tax history

+9.5%/yr

Latest (2025): $841 · +29.0% YoY. Source: county tax records.