286 Charles AveWesterlyRI02891
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe headline number at 286 Charles Ave, Westerly, RI, 02891 in Westerly is the 2.03 coverage ratio: rent of $1,185/mo versus a $584/mo debt payment on a $129,900 property. Rental yield 10.95%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $35,889 by year five, with $1,196/yr in equity from paydown. Total projected cumulative return: $30,764.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11% | 5.8% |
| Monthly Cash Flow | $(336) | $1,850 |
City averages based on Westerly market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,185 |
| Total Monthly Debt Service | $1,469 |
| DSCR Ratio | 0.81x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Manufactured
Built in 2009
N/A lot
$N/A/sqft
$8,076 annually 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
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
Manufactured
Built in 2009
N/A lot
$N/A/sqft
$8,076 annually 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Chad Dupuis • Coldwell Banker Coastal Homes
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1369148
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.