6 Gladding CtNewportRI02840
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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 6 Gladding Ct, Newport, RI, 02840 generates $3,230/mo in rent, after a $6,975/mo payment. Total monthly income is $3,230/mo. Return on cash invested sits at 4.59% in year one, and rental yield is 2.72% on a $1,425,000 entry. Equity gained on principal adds $9,195/yr, while 5% annual appreciation builds toward $393,701 over five years. Five-year ROI reaches 21.03% and total cumulative return in cash sums $97,112. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,230/mo property income rather than buyer’s personal income.
Multi Family
Built in 1880
4,791 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: Holly McLear • Hogan Associates Christie's
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1380890
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025 State-Wide MLS, Inc. All rights reserved.