571 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
Rental property for sale in Newport at 571 Spring St, Newport, RI, 02840 priced at $1,500,000 converts $6,938/mo rent into after a $7,342/mo obligation. Total monthly income equals $6,938/mo. Return on cash invested prints 13.32% in year one, and rental yield reads 5.55% against a $1,500,000 entry. Equity gained on principal adds $9,679/yr, while 5% annual appreciation compiles into $414,422 by year five. Five-year ROI reaches 67.88% and total cumulative return in cash sums $329,879. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $6,938/mo property income covering a $7,342/mo payment, not borrower’s personal income.
Multi Family
Built in 1896
5,662 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: Eddie Rayden • Residential Properties Ltd.
Mls Name: StateWide MLS RI
Mls ID: #1389848