112 Harrison Ave #BNewportRI02840
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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 Newport at 112 Harrison Ave #B, Newport, RI, 02840 generates $5,516/mo in rent, after a $7,586/mo payment. Total monthly income is $5,516/mo. Return on cash invested sits at 9.37% in year one, and rental yield is 4.27% on a $1,550,000 entry. Equity gained on principal adds $10,002/yr, while 5% annual appreciation builds toward $428,236 over five years. Five-year ROI reaches 46.71% and total cumulative return in cash sums $234,577. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,516/mo property income rather than buyer’s personal income.
Condo
Built in 1989
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02840, Newport, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,501 (100%) |
| Owner Occupied HU | 5,151 (38.2%) |
| Renter Occupied HU | 5,708 (42.3%) |
| Vacant Housing Units | 2,642 (19.6%) |
| Median Home Value | $724,493 |
| Average Home Value | $881,270 |
Housing Distribution
Address Breakdown
Residential
11,991
Single Family
10,501
Multi-Family
1,490
Businesses
1,570
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Listed by: Tammy Bass • Serhant Rhode Island
Mls Name: StateWide MLS RI
Mls ID: #1396847