29 Central StWest WarwickRI02893
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 29 Central St, West Warwick, RI, 02893 in West Warwick hard to pass up. The 11.67% gross yield on a $255,000 purchase results in $1,734/mo in rent and $640/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (1.51). Annual cash flow of $7,675, five-year appreciation of $70,452, and $2,349/yr in equity build-up combine for a projected total cumulative return of $91,055.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.7% | 6.2% |
| Monthly Cash Flow | $640 | $1,250 |
City averages based on West Warwick market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,734 |
| Total Monthly Debt Service | $1,738 |
| DSCR Ratio | 1.00x |
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.
Townhouse
Built in 1984
N/A lot
$N/A/sqft
$175 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02893, West Warwick, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,695 (100%) |
| Owner Occupied HU | 7,722 (52.5%) |
| Renter Occupied HU | 6,160 (41.9%) |
| Vacant Housing Units | 813 ( 5.5%) |
| Median Home Value | $343,772 |
| Average Home Value | $379,155 |
Housing Distribution
Address Breakdown
Residential
14,016
Single Family
12,643
Multi-Family
1,373
Businesses
806
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
Townhouse
Built in 1984
N/A lot
$N/A/sqft
$175 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02893, West Warwick, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,695 (100%) |
| Owner Occupied HU | 7,722 (52.5%) |
| Renter Occupied HU | 6,160 (41.9%) |
| Vacant Housing Units | 813 ( 5.5%) |
| Median Home Value | $343,772 |
| Average Home Value | $379,155 |
Housing Distribution
Address Breakdown
Residential
14,016
Single Family
12,643
Multi-Family
1,373
Businesses
806
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Koury Signoriello • New World Realty
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1383552
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.