15 Castle St #7East GreenwichRI02818
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 15 Castle St #7, East Greenwich, RI, 02818 in East Greenwich deserves attention. This $327,474 property earns $3,280/mo in rent, a 12.02% gross yield, and nets $1,142/mo after the $1,473/mo payment. DSCR 2.23 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $90,475 compounds alongside $3,016/yr in yearly equity build, for a total cumulative return of $198,194.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12% | 4.1% |
| Monthly Cash Flow | $1,142 | $1,850 |
City averages based on East Greenwich market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,280 |
| Total Monthly Debt Service | $2,007 |
| DSCR Ratio | 1.63x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Townhouse
Built in 2019
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02818, East Greenwich, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,918 (100%) |
| Owner Occupied HU | 6,250 (70.1%) |
| Renter Occupied HU | 2,154 (24.2%) |
| Vacant Housing Units | 514 ( 5.8%) |
| Median Home Value | $616,971 |
| Average Home Value | $661,269 |
Housing Distribution
Address Breakdown
Residential
8,590
Single Family
7,838
Multi-Family
752
Businesses
1,092
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Townhouse
Built in 2019
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02818, East Greenwich, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,918 (100%) |
| Owner Occupied HU | 6,250 (70.1%) |
| Renter Occupied HU | 2,154 (24.2%) |
| Vacant Housing Units | 514 ( 5.8%) |
| Median Home Value | $616,971 |
| Average Home Value | $661,269 |
Housing Distribution
Address Breakdown
Residential
8,590
Single Family
7,838
Multi-Family
752
Businesses
1,092
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Gary Balletto • Balletto Realty
Mls Name: StateWide MLS RI
Mls ID: #1385465