87 Spring StNewportRI02840
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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 87 Spring St, Newport, RI, 02840 priced at $1,850,000 pairs $2,402/mo rent with after a $9,055/mo payment. Total monthly income equals $2,402/mo. Return on cash invested is 1% in year one, and rental yield stands at 1.56% on a $1,850,000 basis. Equity gained on principal adds $11,938/yr, and 5% annual appreciation accumulates to $511,121 by year five. Five-year ROI measures 1.81% and total cumulative return in cash reaches $10,825. For financing, Ziffy Mortgage’s DSCR program evaluates $2,402/mo property income against a $9,055/mo payment instead of your W2s, 1099s, or Tax returns.
Multi Family
Built in 1898
1,568 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: Molly Kirby • Kirby & Kirby
Mls Name: StateWide MLS RI
Mls ID: #1401961