24 Newport Ave #B2NewportRI02840
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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
Investment property for sale in Newport at 24 Newport Ave #B2, Newport, RI, 02840 earns from $4,091/mo rent with a $3,421/mo payment. Total monthly income totals $4,091/mo. ROI tracks 17.6% on current figures, and rental yield reads 7.02% at a $699,000 purchase. Equity gained on principal adds $4,511/yr, and 5% annual appreciation supports $193,121 over five years. Five-year ROI reaches 90.88% and total cumulative return in cash sums $208,994. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $4,091/mo property income instead of your personal income.
Townhouse
Built in 1917
N/A 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: Teri Degnan • Teri Degnan RE & Consulting
Mls Name: StateWide MLS RI
Mls ID: #1398216