NOT LISTED FOR SALE

Estimated Value: $915,812 - $1,012,000

9 Beds
3 Baths
5,261 Sq Ft
$183/Sq Ft Est. Value

Last Sold May 17, 2018

Last sale price $485,000 $92 Per Sq Ft

Est. 99% increase in value since last sale

Current estimated payment $6,244/month

47 Days on Market

Highlights

  • Wood Flooring
  • Thermal Windows
  • Laundry Room
  • Recreation Facilities
  • Bathtub with Shower
  • 3-minute walk to St John's Park

About This Home

As of May 2018

Location! Location! Location! with tons of historic charm! TURNKEY - Currently the Gross Income is $65,952 - Monthly Income is $5,496 with breakdown being $1,813 1st floor + $1,875 2nd floor + $1,658 for the third floor; plus $150+ a month for laundry. Pro forma based on a typical lender downpayment requirements using last year's actual rent/expenses shows Cap Rate of approx. 10% + ROI of 20%. Before Tax Cashflow of over $2000 monthly, Annualized Profit of $24,070 after expenses. Gorgeous historic building - 3 large sunny units, each with 3 HUGE bedrooms! Many bedrooms feature walk in closets, up to 16'+ long. Units have tall ceilings, great layouts with lots of original character and details like chandelier, gorgeous original hardwood floors, etc! Awesome cable lighting. Tall windows, all replaced. All brand new siding and new roofs. Updated Gas baseboard heating on all floors. Parking for at least 6 cars. Right in the heart of Providence's Little Italy, aka Federal Hill. Quick stroll to everything! Halfway between historic Broadway and Atwells Ave in Federal Hill. These units offer interesting details and are very close to lots of stores, restaurants, bars, bakeries, Providence Place Mall, the train to NYC/Boston. Highly desirable location. Tenants pay Gas & Electric. Updated utilities with a house meter is in place. Lots of parking in the back parking lot. A nice, bright and finished (drywalled and tile) laundry room with coin-op.

Last Agent to Sell the Property

Derek Greene

The Greene Realty Group License #REB.0016396 Listed on: 02/28/2018

Last Buyer's Agent

Derek Greene

The Greene Realty Group License #REB.0016396 Listed on: 02/28/2018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,066

Year Built

  • Built in 1900

Lot Details

  • 3,920 Sq Ft Lot
  • Paved or Partially Paved Lot

Home Design

  • Stone Foundation
  • Vinyl Siding
  • Plaster

Interior Spaces

  • 5,261 Sq Ft Home
  • 3-Story Property
  • Thermal Windows

Flooring

  • Wood
  • Laminate
  • Ceramic Tile

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 3 Full Bathrooms
  • Bathtub with Shower

Laundry

  • Laundry Room
  • Washer

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry

Parking

  • 6 Parking Spaces
  • No Garage

Location

  • Property near a hospital

Utilities

  • No Cooling
  • Heating System Uses Gas
  • Baseboard Heating
  • 100 Amp Service
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for hot water
  • Legal Lot and Block 726 / 7590
  • Assessor Parcel Number 114VINTONSTPROV

Community Details

Overview

  • 4 Units
  • Federal Hill Subdivision

Amenities

  • Shops
  • Public Transportation

Recreation

  • Recreation Facilities

Building Details

  • Operating Expense $18,455

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,066

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.09
  • Subdivision Name: Federal Hill
  • Above Grade Finished Sq Ft: 5261.0
  • Garage Yn: No
  • New Construction: No
  • Year Built: 1900
  • Special Features: None

Interior Features

  • Number Of Buildings: 1
  • Appliances: Gas Water Heater, Refrigerator, Washer
  • Has Basement: Full, Interior Entry, Partially Finished
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 9
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood, Laminate, Other
  • Interior Amenities: Tub Shower
  • Dining Room Type: Laundry
  • Stories: 3
  • Window Features: Thermal Windows
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Lot Features: Paved
  • Construction Type: Drywall, Plaster, Vinyl Siding
  • Foundation Details: Stone

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 6.0

Utilities

  • Laundry Features: Common Area
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Gas
  • Heating Yn: Yes
  • Electric: 100 Amp Service
  • Electricity On Property: Yes
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Highway Access, Near Hospital, Near Schools, Public Transportation, Recreation Area, Shopping
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 3920.0
  • Parcel #: 114VINTONSTPROV
  • Zoning: 3 family
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Hot Water

Multi Family

  • Number Of Units Total: 4
  • Annual Operating Expense: 18455.0

Tax Info

  • Tax Annual Amount: 7066.0
  • Tax Block: 7590
  • Tax Lot: 726
  • Tax Year: 2017

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 28, 2018
Closed on
May 16, 2018
Sold by
Hand Leslie C and Hand David N
Bought by
Mapakshi Rajesh R and Singh Manish
Seller's Agent
Derek Greene
The Greene Realty Group
Buyer's Agent
Derek Greene
The Greene Realty Group
List Price
$499,000
Sold Price
$485,000
Premium/Discount to List
-$14,000
-2.81%
Current Estimated Value
$963,453

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$478,453
Avg. Annual Appreciation
8.89%
Original Mortgage
$363,750
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 19, 2005
Sold by
Lantern Holdings Llc
Bought by
Hand Leslie C and Hand David N

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$281,250
Interest Rate
5.95%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 28, 2005
Sold by
F H & Assoc Llc
Bought by
Lantern Holdings Llc

Purchase Details

Closed on
Jul 6, 2000
Sold by
Renaissance Inv
Bought by
F & H Associates

Purchase Details

Closed on
Jun 16, 2000
Sold by
Flagstar Bank
Bought by
Renaissance Investment

Purchase Details

Closed on
Nov 26, 1997
Sold by
Schmidt Jon R
Bought by
Hanlon Paul F

Purchase Details

Closed on
Jan 11, 1996
Sold by
West Tr Dorothy M
Bought by
Hughes John Michael
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mapakshi Rajesh R $485,000 --
Mapakshi Rajesh R $485,000 --
Hand Leslie C $379,000 --
Hand Leslie C $379,000 --
Lantern Holdings Llc $234,000 --
Lantern Holdings Llc $234,000 --
F & H Associates $30,000 --
F & H Associates $30,000 --
Renaissance Investment $12,500 --
Renaissance Investment $12,500 --
Hanlon Paul F $98,000 --
Hanlon Paul F $98,000 --
Hughes John Michael $36,000 --
Hughes John Michael $36,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mapakshi Rajesh R $354,000
Closed Singh Manish $354,000
Closed Mapakshi Rajesh R $363,750
Previous Owner Hughes John Michael $281,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/17/2018 05/17/18 Sold $485,000 -2.8% $92 / Sq Ft
04/17/2018 04/17/18 Pending -- -- --
02/28/2018 02/28/18 For Sale $499,000 -- $95 / Sq Ft
Source: State-Wide MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $11,937 $650,500 $209,600 $440,900
2023 $11,937 $650,500 $209,600 $440,900
2022 $11,579 $650,500 $209,600 $440,900
2021 $9,935 $404,500 $133,900 $270,600
2020 $9,935 $404,500 $133,900 $270,600
2019 $9,935 $404,500 $133,900 $270,600
2018 $7,066 $221,100 $77,400 $143,700
2017 $7,066 $221,100 $77,400 $143,700
2016 $7,066 $221,100 $77,400 $143,700
2015 $6,951 $210,000 $77,400 $132,600
2014 $7,462 $221,100 $77,400 $143,700
2013 $7,462 $221,100 $77,400 $143,700
Source: Public Records

Agents Affiliated with this Home

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Map

Source: State-Wide MLS

MLS Number: 1183905

State-Wide MLS

APN: PROV-280726-000000-000000