175 Bonnet Point Rd #N3NarragansettRI02882
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
Investment Highlights
Rental property for sale in Narragansett at 175 Bonnet Point Rd #N3, Narragansett, RI, 02882 generates $1,434/mo in rent and, after a $905/mo payment, leaves $227/mo in cash flow. Total monthly income is $1,434/mo, and annual cash flow is $2,722/yr on $61,328 invested. Return on cash invested sits at 24.35% in year one, and rental yield is 9.3% on a $185,000 entry. Equity gained on principal adds $1,194/yr, while 5% annual appreciation builds toward $51,112 over five years. Five-year ROI reaches 127.09% and total cumulative return in cash sums $77,943. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,434/mo property income rather than buyer’s personal income.
Condo
Built in 1987
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02882, Narragansett, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,318 (100%) |
| Owner Occupied HU | 4,266 (45.8%) |
| Renter Occupied HU | 1,731 (18.6%) |
| Vacant Housing Units | 3,321 (35.6%) |
| Median Home Value | $784,869 |
| Average Home Value | $933,584 |
Housing Distribution
Address Breakdown
Residential
7,443
Single Family
7,228
Multi-Family
215
Businesses
466
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The Mita Team • Flagship Real Estate Advisors
Mls Name: StateWide MLS RI
Mls ID: #1402107