470 Atlantic AveWesterlyRI02891
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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 Westerly at 470 Atlantic Ave, Westerly, RI, 02891 priced at $1,950,000 converts $4,080/mo rent into after a $9,544/mo obligation. Total monthly income equals $4,080/mo. Return on cash invested prints 3.94% in year one, and rental yield reads 2.51% against a $1,950,000 entry. Equity gained on principal adds $12,583/yr, while 5% annual appreciation compiles into $538,749 by year five. Five-year ROI reaches 17.58% and total cumulative return in cash sums $111,041. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,080/mo property income covering a $9,544/mo payment, not borrower’s personal income.
Single Family
Built in 2008
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02891, Westerly, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,932 (100%) |
| Owner Occupied HU | 6,730 (52.0%) |
| Renter Occupied HU | 3,145 (24.3%) |
| Vacant Housing Units | 3,057 (23.6%) |
| Median Home Value | $496,385 |
| Average Home Value | $622,871 |
Housing Distribution
Address Breakdown
Residential
10,493
Single Family
9,863
Multi-Family
630
Businesses
1,129
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Listed by: Larry Burns • Lila Delman Compass
Mls Name: StateWide MLS RI
Mls ID: #1394554