5 Carolina Nooseneck Rd #BRichmondRI02898
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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 Richmond at 5 Carolina Nooseneck Rd #B, Richmond, RI, 02898 generates $2,220/mo in rent, after a $2,740/mo payment. Total monthly income is $2,220/mo. Return on cash invested sits at 10.72% in year one, and rental yield is 4.76% on a $559,900 entry. Equity gained on principal adds $3,613/yr, while 5% annual appreciation builds toward $154,690 over five years. Five-year ROI reaches 53.96% and total cumulative return in cash sums $99,406. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,220/mo property income rather than buyer’s personal income.
Condo
Built in 2024
2.53 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02898, Wyoming, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 757 (100%) |
| Owner Occupied HU | 648 (85.6%) |
| Renter Occupied HU | 56 ( 7.4%) |
| Vacant Housing Units | 53 ( 7.0%) |
| Median Home Value | $460,515 |
| Average Home Value | $476,169 |
Housing Distribution
Address Breakdown
Residential
761
Single Family
761
Multi-Family
0
Businesses
115
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Listed by: Bonnie Begos • RE/MAX FLAGSHIP, INC.
Mls Name: StateWide MLS RI
Mls ID: #1390741