318 Mitchells 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
Rental property for sale in Middletown at 318 Mitchells Ln, Middletown, RI, 02842 offers $3,650/mo rent that, after a $2,932/mo payment. Total monthly income is $3,650/mo. Return on cash invested measures 18.47% in year one, and rental yield stands at 7.31% at a $599,000 entry. Equity gained on principal adds $3,865/yr while 5% annual appreciation compounds into $165,493 by year five. Five-year ROI records 95.57% and total cumulative return in cash reaches $188,338. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,650/mo property income versus a $2,932/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
0.37 Acres lot
$N/A/sqft
No 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: David McCauley • RE/MAX Profnl. Newport, Inc.
Mls Name: StateWide MLS RI
Mls ID: #1401545