703 Corn Neck RdBlock IslandRI02807
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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 Block Island at 703 Corn Neck Rd, Block Island, RI, 02807 offers a 2.89% rental yield on a $1,375,000 purchase with $3,312/mo rent. 11% in year one. Equity gained on principal adds $8,873/yr while 5% annual appreciation supports $379,887 over five years. Portfolio math shows five-year ROI at 23.87% and total cumulative return in cash at $106,326. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,312/mo property income against a $6,730/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02807, Block Island, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,845 (100%) |
| Owner Occupied HU | 495 (26.8%) |
| Renter Occupied HU | 161 ( 8.7%) |
| Vacant Housing Units | 1,189 (64.4%) |
| Median Home Value | $1,436,813 |
| Average Home Value | $1,498,606 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
129
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Listed by: Jennifer Phillips • Phillips Real Estate
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1367016
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 2024 State-Wide MLS, Inc. All rights reserved.