28 Castle StEast GreenwichRI02818
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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 East Greenwich at 28 Castle St, East Greenwich, RI, 02818 priced at $1,600,000 converts $7,940/mo rent into after a $7,831/mo obligation. Total monthly income equals $7,940/mo. Return on cash invested prints 14.57% in year one, and rental yield reads 5.96% against a $1,600,000 entry. Equity gained on principal adds $10,325/yr, while 5% annual appreciation compiles into $442,051 by year five. Five-year ROI reaches 74.58% and total cumulative return in cash sums $386,631. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $7,940/mo property income covering a $7,831/mo payment, not borrower’s personal income.
Townhouse
Built in 2024
9,583 sqft 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
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Listed by: Jim DeRentis • Residential Properties Ltd.
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1386339
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025 State-Wide MLS, Inc. All rights reserved.