331 Newman AveRumfordRI02916
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
Investment Highlights
Rental property for sale in Rumford at 331 Newman Ave, Rumford, RI, 02916 offers $2,646/mo rent that, after a $3,225/mo payment. Total monthly income is $2,646/mo. Return on cash invested measures 10.9% in year one, and rental yield stands at 4.82% at a $659,000 entry. Equity gained on principal adds $4,252/yr while 5% annual appreciation compounds into $182,070 by year five. Five-year ROI records 54.94% and total cumulative return in cash reaches $119,107. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,646/mo property income versus a $3,225/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1880
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02916, Rumford, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,061 (100%) |
| Owner Occupied HU | 2,688 (66.2%) |
| Renter Occupied HU | 1,222 (30.1%) |
| Vacant Housing Units | 151 ( 3.7%) |
| Median Home Value | $430,359 |
| Average Home Value | $452,640 |
Housing Distribution
Address Breakdown
Residential
3,918
Single Family
3,305
Multi-Family
613
Businesses
370
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Nearby investment properties with comparable prices
Listed by: Lorraine Perri • Coldwell Banker Realty
Mls Name: StateWide MLS RI
Mls ID: #1398866