55 John Clarke Rd #3MiddletownRI02842
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Middletown at 55 John Clarke Rd #3, Middletown, RI, 02842 priced at $400,000 converts $3,540/mo rent into $929/mo cash flow after a $1,958/mo obligation. Total monthly income equals $3,540/mo, and annual cash flow totals $11,144/yr on $132,600 invested. Return on cash invested prints 28.31% in year one, and rental yield reads 10.62% against a $400,000 entry. Equity gained on principal adds $2,581/yr, while 5% annual appreciation compiles into $110,513 by year five. Five-year ROI reaches 148.36% and total cumulative return in cash sums $196,720. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,540/mo property income covering a $1,958/mo payment, not borrower’s personal income.
Condo
Built in 2022
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02842, Middletown, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,042 (100%) |
| Owner Occupied HU | 4,132 (51.4%) |
| Renter Occupied HU | 2,978 (37.0%) |
| Vacant Housing Units | 932 (11.6%) |
| Median Home Value | $602,926 |
| Average Home Value | $695,340 |
Housing Distribution
Address Breakdown
Residential
7,468
Single Family
6,650
Multi-Family
818
Businesses
912
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Schuyler Horton • Hogan Associates Christie's
Mls Name: StateWide MLS RI
Mls ID: #1400674