29 School St #12EWesterlyRI02891
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 29 School St #12E, Westerly, RI, 02891 in Westerly speaks for itself: 14.9% gross on a $180,000 price, generating $2,236/mo in rent and $751/mo in net income after the $809/mo debt service. DSCR 2.76, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $9,007 stacks alongside $49,731 in projected five-year appreciation and $1,658/yr in principal reduction. Projected total cumulative return: $118,207.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.9% | 5.8% |
| Monthly Cash Flow | $751 | $1,850 |
City averages based on Westerly market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,236 |
| Total Monthly Debt Service | $1,413 |
| DSCR Ratio | 1.58x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Condo
Built in 1980
N/A lot
$N/A/sqft
$310 monthly 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
Condo
Built in 1980
N/A lot
$N/A/sqft
$310 monthly 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: Jean Allard • Keystone Real Estate Group
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1394070
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.