308 Corey LnMiddletownRI02842
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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 Middletown at 308 Corey Ln, Middletown, RI, 02842 offers a 8.78% rental yield on a $540,000 purchase with $3,953/mo rent. 95% in year one. Equity gained on principal adds $3,485/yr while 5% annual appreciation supports $149,192 over five years. Portfolio math shows five-year ROI at 94.57% and total cumulative return in cash at $168,014. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,953/mo property income against a $2,643/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Townhouse
Built in 1986
1,498 sqft lot
$N/A/sqft
$740 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02842, Middletown, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,042 (100%) |
| Owner Occupied HU | 4,132 (51.4%) |
| Renter Occupied HU | 2,978 (37.0%) |
| Vacant Housing Units | 932 (11.6%) |
| Median Home Value | $602,926 |
| Average Home Value | $695,340 |
Housing Distribution
Address Breakdown
Residential
7,468
Single Family
6,650
Multi-Family
818
Businesses
912
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Listed by: Tracy Freese • Coldwell Banker Realty
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1374237
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.