3524 W Shore Rd APT 215, Warwick, RI, 02886 | $664/mo Cash Flow

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3524 W Shore Rd APT 215, Warwick, RI, 02886 | $664/mo Cash Flow | Ziffy

For Sale

Fix & Flip

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Warwick at 3524 W Shore Rd APT 215, Warwick, RI, 02886 offers a 10.07% rental yield on a $355,900 purchase with $2,987/mo rent. Total monthly income registers $2,987/mo, and a $1,742/mo payment leaves $664/mo available for distribution. Annual cash flow reaches $7,964/yr on $117,981 to close, and return on cash invested stands at 26.66% in year one. Equity gained on principal adds $2,297/yr while 5% annual appreciation supports $98,329 over five years. Portfolio math shows five-year ROI at 139.5% and total cumulative return in cash at $164,586. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,987/mo property income against a $1,742/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Townhouse

Built in 1925

N/A lot

$N/A/sqft

No HOA

More details about the property

Spacious and sun-filled, this two-bedroom, two-bath condo in the desirable Lockwood Condominium complex offers easy, comfortable living in a well-maintained community. The unit features two bright bedrooms, two full bathrooms with in-unit washer and dryer, and multiple closets for extra storage, as well as a lower level storage locker. Enjoy peace of mind with new heating and central air systems installed in October 2025, a one-year-old hot water heater, and new first-floor windows. The open layout allows for effortless flow, with a kitchen overlooking the dining and living areas. A striking spiral staircase leads to a bonus loft space, perfect for a home office, guest area, or creative retreat. This unit also offers a unique private entrance with a green space ideal for hosting a small table and chairsperfect for morning coffee or relaxing outdoors. The reasonable condo fee includes water and sewer, plus off-street unassigned parking for added convenience. Located close to all major highways, restaurants, shopping, schools, and just a short walk to the water, this well-maintained condo is being sold as-is and awaits your personal touches! Sale is subject to seller finding suitable housing.

Neighborhood Data

Neighborhood data shown for ZIP Code: 02886, Warwick, RI area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	14,518 (100%)
Owner Occupied HU	9,073 (62.5%)
Renter Occupied HU	4,614 (31.8%)
Vacant Housing Units	831 ( 5.7%)
Median Home Value	$395,647
Average Home Value	$440,210