16 Boiling Spring AveWesterlyRI02891
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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 Westerly at 16 Boiling Spring Ave, Westerly, RI, 02891 offers $2,563/mo rent that, after a $3,274/mo payment. Total monthly income is $2,563/mo. Return on cash invested measures 10.23% in year one, and rental yield stands at 4.6% at a $669,000 entry. Equity gained on principal adds $4,317/yr while 5% annual appreciation compounds into $184,832 by year five. Five-year ROI records 51.35% and total cumulative return in cash reaches $113,019. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,563/mo property income versus a $3,274/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1999
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02891, Westerly, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,932 (100%) |
| Owner Occupied HU | 6,730 (52.0%) |
| Renter Occupied HU | 3,145 (24.3%) |
| Vacant Housing Units | 3,057 (23.6%) |
| Median Home Value | $496,385 |
| Average Home Value | $622,871 |
Housing Distribution
Address Breakdown
Residential
10,493
Single Family
9,863
Multi-Family
630
Businesses
1,129
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Listed by: Jason Saphire • www.HomeZu.com
Mls Name: StateWide MLS RI
Mls ID: #1399688