58 Connection 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 58 Connection St, Newport, RI, 02840 uses $172,725 cash to close to unlock $2,070/yr annual cash flow and $173/mo monthly cash flow. Total monthly income runs $3,600/mo, and a $2,570/mo payment keeps the spread at $173/mo. Purchase price stands at $525,000, and rental yield measures 8.23% with $3,600/mo rent. Return on cash invested shows 21.26% in year one, and 5% annual appreciation builds toward $145,048 over five years. Five-year ROI reaches 110.5% and total cumulative return in cash records $190,857. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,600/mo property income covering a $2,570/mo payment rather than investor’s personal income.
Single Family
Built in 1900
2,962 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: Dianne Grippi • Residential Properties Ltd.
Mls Name: StateWide MLS RI
Mls ID: #1400976