Real Estate Investing in Manville, Rhode Island (02838)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02838 (Manville, RI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.2% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Manville, RI (02838)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02838 Manville
Not every below-median market is a bargain. Manville's 02838 ZIP registers signals that favor experienced operators who can absorb the risk $455K pricing implies.
From an investor standpoint, the numbers look inviting — $455K purchase price, 0.0% nominal cap — the work to hit that pro forma in 02838 is substantial and deserves full respect.
The gap between 02838 and stronger Manville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 02838 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 02838 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Manville:
Property Strategy for 02838
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $301,384 | $1,740 | 4.2% | +9.3% | $150,692 |
| 3BR | $464,962 | $2,100 | 3.3% | +8.4% | $154,987 |
Market Trends
Home Value History (with trend line)
📊 How Does 02838 Compare?
| Metric | 02838 | Manville | Rhode Island |
|---|---|---|---|
| Home Value | $455,040 | $455,040 | $487,363 |
| 5-Year CAGR | 6.6% | 6.6% | 8.8% |
| Avg Rent | $1,566 | $1,566 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02838 (Manville, RI). Anonymous, moderated, never written by AI.
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Property managers serving Providence County
Manage rentals here? List your business →Ferland Corporation provides professional management services for over 2,600 apartment units in the Rhode Island area, offering quality apartments and amenities. summary from their website
Zanno Property Management offers residential and multi-family property management services in Providence, including marketing, resident screening, rent collection, maintenance, accounting, and evictio summary from their website
Avellino Construction & Property Management offers property management, general contracting, investments & lending, and rentals in Providence, RI. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $455,040 |
| Monthly Rent | $1,566 |
| Price-to-Rent | 24.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +6.6% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 02838
Population: 4,007
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 02838
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Woonsocket Middle @ Villa Nova
Woonsocket Middle at Hamlet
Bernon Heights School
Globe Park School
Leo A. Savoie School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Should investors consider Manville, RI?
Manville, RI posts an investability rating of 3.0/5, with median home values near $455K and average rents around $1,566/mo. That combination puts it in the significant tier for investor interest.
Where do rents currently stand in Manville, RI?
Rent in Manville, RI is around $1,566/mo. The resulting rent-to-value relationship with $455K pricing is reasonable for most investor models.
Is Manville, RI a friendly market for rental owners?
Manville, RI operates under RI law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
Is Manville, RI good for house hacking?
Manville, RI is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $455K price point reasonable to enter.
Do landlords face vacancy issues in Manville, RI?
Manville, RI vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 02838 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02838 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 02838 ranks in Providence-Warwick, RI-MA
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