33 Middleton Ave #2NewportRI02840
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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 Newport at 33 Middleton Ave #2, Newport, RI, 02840 offers $3,444/mo rent that, after a $2,814/mo payment. Total monthly income is $3,444/mo. Return on cash invested measures 16.51% in year one, and rental yield stands at 7.19% at a $574,900 entry. Equity gained on principal adds $3,710/yr while 5% annual appreciation compounds into $158,834 by year five. Five-year ROI records 85.61% and total cumulative return in cash reaches $161,931. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,444/mo property income versus a $2,814/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1900
N/A lot
$N/A/sqft
$250 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02840, Newport, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,501 (100%) |
| Owner Occupied HU | 5,151 (38.2%) |
| Renter Occupied HU | 5,708 (42.3%) |
| Vacant Housing Units | 2,642 (19.6%) |
| Median Home Value | $724,493 |
| Average Home Value | $881,270 |
Housing Distribution
Address Breakdown
Residential
11,991
Single Family
10,501
Multi-Family
1,490
Businesses
1,570
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Listed by: Kathryn D'Addabbo • Coldwell Banker Realty
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1369874
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 2024 State-Wide MLS, Inc. All rights reserved.