501 Spring StNewportRI02840
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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
Investment property for sale in Newport at 501 Spring St, Newport, RI, 02840 offers a 3.52% rental yield on a $1,875,000 purchase with $5,496/mo rent. 05% in year one. Equity gained on principal adds $12,099/yr while 5% annual appreciation supports $518,028 over five years. Portfolio math shows five-year ROI at 34.24% and total cumulative return in cash at $207,998. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,496/mo property income against a $9,177/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 1900
3,911 sqft lot
$N/A/sqft
No 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: Christopher Walker • William Raveis Inspire
Mls Name: StateWide MLS RI
Mls ID: #1391997