Real Estate Investing in Pawtucket, Rhode Island (02861)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02861 (Pawtucket, RI)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Pawtucket, RI (02861)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02861 Pawtucket
From an investor standpoint, ZIP 02861 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $407K median. It rewards specialists, not generalists.
Stepping back, the numbers look inviting — $407K purchase price, 0.0% nominal cap — the work to hit that pro forma in 02861 is substantial and deserves full respect.
Nearby ZIPs in Pawtucket have seen price recovery that 02861 has not matched. Providence County data supports the view that the spread is structural rather than temporary.
The demographic picture in 02861 includes headwinds that any investor should price in. Income distribution skews lower than Pawtucket averages, and tenant stability requires active management.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Pawtucket:
Property Strategy for 02861
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $301,080 | $1,350 | 3.2% | +10.2% | $301,080 |
| 2BR | $359,512 | $1,670 | 3.3% | +9.5% | $179,756 |
| 3BR | $396,325 | $2,020 | 3.7% | +9.2% | $132,108 |
| 4BR | $417,736 | $2,400 | 4.1% | +9.3% | $104,434 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02861 Compare?
| Metric | 02861 | Pawtucket | Rhode Island |
|---|---|---|---|
| Home Value | $407,299 | $402,135 | $487,363 |
| 5-Year CAGR | 6.6% | 6.6% | 8.8% |
| Avg Rent | $2,008 | $1,937 | - |
| Cap Rate | 3.9% | 3.8% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02861 (Pawtucket, 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 | $407,299 |
| Monthly Rent | $2,008 |
| Price-to-Rent | 16.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.9% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +4.5% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +8.5% ▲ |
🏠 Rent Trends
| 1-Year | +16.3% ▲ |
| 3-Year CAGR | +9.6% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). 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 02861
Population: 27,928
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 02861
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Ella Risk School
Veterans Memorial Elementary
Francis J. Varieur School
Agnes E. Little School
Calcutt Middle 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
Is the tenant base reliable in Pawtucket, RI?
The renter base in Pawtucket, RI is reasonable for the $2,008/mo price point. Screening well and pricing to market typically yields measured tenants.
Is house hacking profitable in Pawtucket, RI?
House hacking in Pawtucket, RI is reasonable to execute. Prices around $407K and rents of $2,008/mo solid owner-occupant economics.
How do landlord-tenant laws work in Pawtucket, RI?
RI ranks as a landlord-friendly state for landlord-tenant law. Pawtucket generally follows the statewide framework, so landlords face reasonable operating rules.
What is the average monthly rent in Pawtucket, RI?
Rent in Pawtucket, RI is around $2,008/mo. The resulting rent-to-value relationship with $407K pricing is reasonable for most investor models.
How much should I expect to pay for a home in Pawtucket, RI?
Expect median prices around $407K in Pawtucket, RI. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
You know 02861 now. You don’t know where it ranks.
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How 02861 ranks in Providence-Warwick, RI-MA
Every ZIP in this metro, ranked. Free.
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