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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Charlestown at 38 Railroad Ave, Charlestown, RI, 02813 offers $2,038/mo rent that, after a $820/mo payment, leaves $944/mo cash flow. Total monthly income is $2,038/mo, and annual cash flow is $11,333/yr on $55,526 cash. Return on cash invested measures 40.32% in year one, and rental yield stands at 14.6% at a $167,500 entry. Equity gained on principal adds $1,081/yr while 5% annual appreciation compounds into $46,277 by year five. Five-year ROI records 212.79% and total cumulative return in cash reaches $118,156. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,038/mo property income versus a $820/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1900
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 02813, Charlestown, RI area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,608 (100%) |
| Owner Occupied HU | 3,154 (56.2%) |
| Renter Occupied HU | 534 ( 9.5%) |
| Vacant Housing Units | 1,920 (34.2%) |
| Median Home Value | $534,967 |
| Average Home Value | $675,143 |
Residential
3,695
Single Family
3,695
Multi-Family
0
Businesses
261
Date | Event | Price |
|---|---|---|
| 2025-03-31 | Price change | $350,000 |
| 2025-01-03 | Price change | $244,900 |
| 2024-06-20 | Listed for sale | $245,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-09-21 | $1491.00 | -10.72% | $257,900 | -11.37% |
| 2023-09-21 | $1670.00 | -15.44% | $291,000 | 20.40% |
| 2022-09-21 | $1975.00 | -18.08% | $241,700 | -18.01% |
Listed by: Fitzpatrick Team • RE/MAX Profnl. Newport, Inc.
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1326174
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 2025 State-Wide MLS, Inc. All rights reserved.
