7 Laneway CtNarragansettRI02882
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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 Narragansett at 7 Laneway Ct, Narragansett, RI, 02882 generates $3,343/mo in rent, after a $3,818/mo payment. Total monthly income is $3,343/mo. Return on cash invested sits at 11.88% in year one, and rental yield is 5.14% on a $780,000 entry. Equity gained on principal adds $5,033/yr, while 5% annual appreciation builds toward $215,500 over five years. Five-year ROI reaches 60.2% and total cumulative return in cash sums $154,480. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,343/mo property income rather than buyer’s personal income.
Multi Family
Built in 1970
0.28 Acres lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
7,443
Single Family
7,228
Multi-Family
215
Businesses
466
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Listed by: Greg Contardo • Keller Williams Coastal
Mls Name: StateWide MLS RI
Mls ID: #1395807