66 Girard Ave UNIT 106NewportRI02840
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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 66 Girard Ave UNIT 106, Newport, RI, 02840 uses $77,903 cash to close to unlock $4,970/yr annual cash flow and $414/mo monthly cash flow. Total monthly income runs $2,272/mo, and a $1,150/mo payment keeps the spread at $414/mo. Purchase price stands at $235,000, and rental yield measures 11.6% with $2,272/mo rent. Return on cash invested shows 26.29% in year one, and 5% annual appreciation builds toward $64,926 over five years. Five-year ROI reaches 139.36% and total cumulative return in cash records $108,568. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,272/mo property income covering a $1,150/mo payment rather than investor’s personal income.
Condo
Built in 1987
N/A lot
$N/A/sqft
$324 monthly 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: Heather Cawley • RE/MAX Profnl. Newport, Inc.
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1386704
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.