1053 Cooneymus RdBlock IslandRI02807
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Block Island at 1053 Cooneymus Rd, Block Island, RI, 02807 generates $4,477/mo in rent, after a $7,954/mo payment. Total monthly income is $4,477/mo. Return on cash invested sits at 6.4% in year one, and rental yield is 3.31% on a $1,625,000 entry. Equity gained on principal adds $10,486/yr, while 5% annual appreciation builds toward $448,958 over five years. Five-year ROI reaches 30.73% and total cumulative return in cash sums $161,800. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,477/mo property income rather than buyer’s personal income.
Single Family
Built in 1978
2.06 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02807, Block Island, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,845 (100%) |
| Owner Occupied HU | 495 (26.8%) |
| Renter Occupied HU | 161 ( 8.7%) |
| Vacant Housing Units | 1,189 (64.4%) |
| Median Home Value | $1,436,813 |
| Average Home Value | $1,498,606 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
129
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Listed by: Nancy Pike • Beach Real Estate
Mls Name: StateWide MLS RI
Mls ID: #1386988