64 Burnside Ave UNIT 87, Narragansett, RI, 02882 | $478/mo Cash Flow

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64 Burnside Ave UNIT 87, Narragansett, RI, 02882 | $478/mo Cash Flow | Ziffy

For Sale

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NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Narragansett at 64 Burnside Ave UNIT 87, Narragansett, RI, 02882 offers a 9.6% rental yield on a $325,000 purchase with $2,600/mo rent. Total monthly income registers $2,600/mo, and a $1,591/mo payment leaves $478/mo available for distribution. Annual cash flow reaches $5,738/yr on $107,738 to close, and return on cash invested stands at 25.23% in year one. Equity gained on principal adds $2,097/yr while 5% annual appreciation supports $89,792 over five years. Portfolio math shows five-year ROI at 131.89% and total cumulative return in cash at $142,093. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,600/mo property income against a $1,591/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 2025

N/A lot

$N/A/sqft

No HOA

More details about the property

Brand New Cottage the heart of Narragansett at Knowles Camp. A 5 minute walk to Scarborough Beach. Spend the warmer months in Rhode Island with access to the camp from May 1st- Mid October. As a new build, this unit offers an oversized living room, bedroom, eat in kitchen, laundry units, bathroom and beautiful deck facing the ocean. This unit cannot be rented.

Neighborhood Data

Neighborhood data shown for ZIP Code: 02882, Narragansett, RI area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	9,318 (100%)
Owner Occupied HU	4,266 (45.8%)
Renter Occupied HU	1,731 (18.6%)
Vacant Housing Units	3,321 (35.6%)
Median Home Value	$784,869
Average Home Value	$933,584