16 Ward AveMiddletownRI02842
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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 Middletown at 16 Ward Ave, Middletown, RI, 02842 priced at $749,000 converts $4,080/mo rent into after a $3,666/mo obligation. Total monthly income equals $4,080/mo. Return on cash invested prints 16.12% in year one, and rental yield reads 6.54% against a $749,000 entry. Equity gained on principal adds $4,833/yr, while 5% annual appreciation compiles into $206,935 by year five. Five-year ROI reaches 82.94% and total cumulative return in cash sums $204,376. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,080/mo property income covering a $3,666/mo payment, not borrower’s personal income.
Single Family
Built in 1979
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02842, Middletown, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,042 (100%) |
| Owner Occupied HU | 4,132 (51.4%) |
| Renter Occupied HU | 2,978 (37.0%) |
| Vacant Housing Units | 932 (11.6%) |
| Median Home Value | $602,926 |
| Average Home Value | $695,340 |
Housing Distribution
Address Breakdown
Residential
7,468
Single Family
6,650
Multi-Family
818
Businesses
912
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Listed by: Heather Cawley • RE/MAX Profnl. Newport, Inc.
Mls Name: StateWide MLS RI
Mls ID: #1401245