49 E Bowery St APT 3NewportRI02840
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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 Newport at 49 E Bowery St APT 3, Newport, RI, 02840 offers $2,557/mo rent that, after a $1,517/mo payment, leaves $369/mo cash flow. Total monthly income is $2,557/mo, and annual cash flow is $4,424/yr on $102,765 cash. Return on cash invested measures 24.21% in year one, and rental yield stands at 9.9% at a $310,000 entry. Equity gained on principal adds $2,000/yr while 5% annual appreciation compounds into $85,647 by year five. Five-year ROI records 127.07% and total cumulative return in cash reaches $130,579. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,557/mo property income versus a $1,517/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1920
N/A lot
$N/A/sqft
$165 monthly 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: Newport Living Group • Lila Delman Compass
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1380817
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.