35 2nd StNewportRI02840
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 Newport at 35 2nd St, Newport, RI, 02840 offers $6,032/mo rent that, after a $9,251/mo payment. Total monthly income is $6,032/mo. Return on cash invested measures 8.01% in year one, and rental yield stands at 3.83% at a $1,890,000 entry. Equity gained on principal adds $12,196/yr while 5% annual appreciation compounds into $522,172 by year five. Five-year ROI records 39.4% and total cumulative return in cash reaches $241,267. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $6,032/mo property income versus a $9,251/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1760
2,613 sqft lot
$N/A/sqft
No 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: Hillary Olinger • Serhant Rhode Island
Mls Name: StateWide MLS RI
Mls ID: #1396014