97 Narragansett Ave #C4NewportRI02840
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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 97 Narragansett Ave #C4, Newport, RI, 02840 offers a 7.21% rental yield on a $599,000 purchase with $3,600/mo rent. 03% in year one. Equity gained on principal adds $3,865/yr while 5% annual appreciation supports $165,493 over five years. Portfolio math shows five-year ROI at 83.21% and total cumulative return in cash at $163,990. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,600/mo property income against a $2,932/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Townhouse
Built in 1957
N/A lot
$N/A/sqft
$352 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: Elizabeth Enochs • Hogan Associates Christie's
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1388164
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.