150 Bay View Dr #17 · Jamestown, RI 02835

$980,000

2 bd · 2.5 ba · 1,624 sqft · Condo · 82 Days on market

Built 1985 Good condition $603/sqft · 11% below area Est $1.099M · 11% under $790/mo HOA · 9% of rent

---

Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +12.4/15.0
• Cash flow +10.9/30.0
• Schools +6.4/10.0
• 1% rule +4.2/10.0
• Condition / age +4.0/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* Please refer to supplements for additional information and bid submission instructions. All bids must be in by August 19th. Assessment and taxes are estimated and are subject to change. HOA fees subject to change. * Welcome to Jamestown Overlook, a reimagined waterfront community formerly known as Newport Overlook, offering a rare opportunity to own a waterfront condominium in Jamestown, Rhode Island. These waterfront residences feature abundant natural light, two bedroom, 2.5 bath layouts with dedicated laundry spaces, multiple outdoor living areas, and spectacular views of Narragansett Bay and the bridge just steps to the water.

Key facts

• Outdoor living areas
• Hot tub
• Waterfront community

Tags

• WATERFRONT COMMUNITY
• WATERFRONT CONDOMINIUM
• NATURAL LIGHT
• OUTDOOR LIVING AREAS
• ACCESS TO A POOL
• HOT TUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $980k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-435 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $917k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $902k (7.9% below list).
• Recommended offer: $902k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.8% in Jamestown — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Jamestown (suburban): math 51% / reading 68% proficiency, ranked #2 of 39 in RI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Jamestown School-Melrose (math 62% / reading 72%, grade B+, #5 of 167 statewide, top 3%, 224 students, 6% FRL); Jamestown School-Lawn (math 47% / reading 67%, grade B, #3 of 57 statewide, top 4%, 186 students, 7% FRL) — zoned schools at 6% FRL track the district average.
• Market conditions: 71 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 32d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 94 units permitted in Newport County in 2024 (0 in 5+ unit buildings).
• At $9,023/mo this rent would consume 77% of the median local household income ($141k/yr) (locally 25% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.
• Newport County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($921k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $902,274 (7.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• GRM: 9.1

CMA / ARV

• ARV (median comp): $1,098,702
• List price: $980,000
• Delta: -10.80%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 Conanicus Ave Unit 3A	0.91mi	2/2.0	1,657 (+2%)	13mo	$1,500,000	$905	48
53 Conanicus Ave Unit 5A	0.91mi	2/2.0	1,561 (-4%)	11mo	$1,400,000	$897	47
35 Bryer Ave	0.65mi	3/1.5 (+1)	1,794 (+10%)	11mo	$1,575,000	$878	34
46 North Rd	1.02mi	3/2.5 (+1)	1,890 (+16%)	1mo	$900,000	$476	34
53 Conanicus Ave Unit 1 F	0.91mi	2/2.0	1,421 (-12%)	11mo	$950,000	$669	33
53 Conanicus Ave Unit 2G	0.91mi	2/2.0	1,432 (-12%)	14mo	$1,000,000	$698	32
22 Cole St	1.23mi	3/2.5 (+1)	2,016 (+24%)	4mo	$1,149,000	$570	32
127 Longfellow Rd	0.85mi	3/3.0 (+1)	2,017 (+24%)	3mo	$1,300,000	$645	31
53 Conanicus Ave Unit 2C	0.91mi	2/2.0	1,406 (-13%)	13mo	$1,000,000	$711	30
65 Coronado St	0.83mi	3/1.5 (+1)	1,359 (-16%)	2mo	$950,000	$699	29
53 Conanicus Ave Unit 1D	0.91mi	2/2.0	1,357 (-16%)	15mo	$1,500,000	$1,105	26
61 Howland Ave	1.26mi	3/3.0 (+1)	1,930 (+19%)	9mo	$1,115,000	$578	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.32×
• Total profit: $-185,860
• Equity at exit: $146,121

10-year hold

• IRR: -11.9%
• Equity multiple: 0.29×
• Total profit: $-194,960
• Equity at exit: $84,732

Cash invested: $274,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 31 Tenant-Leaning
• State Rhode Island: 31 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

30-day notice; strong tenant protections.

Methodology + full state rankings →

ZIP-level market 02835

• Active inventory: 71
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $9,023 high
• Mortgage (P&I): −$5,139
• Tax est. 1.5%: −$1,225 /mo · $14,700/yr
• Insurance: −$408
• HOA: −$790
• Vacancy / Maint / Mgmt: −$1,895
• Net cashflow: $-435

Break-even live

Break-even rent $9,573

Max offer price $917,113

Occupancy floor 100%

Sensitivity live

Price	-10% $243	-5% $-96	+0% $-435	+5% $-773	+10% $-1,112
Rent	-10% $-1,147	-5% $-791	+0% $-435	+5% $-78	+10% $278
Rate	-1.0pp $59	-0.5pp $-185	base $-435	+0.5pp $-689	+1.0pp $-947

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $245,000
• Closing costs: $29,400
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
59 Mount Hope Ave Jamestown, RI	3.0	2.0	1619	$12,000	$7.41	35d	1	0.41mi
59 Mount Hope Ave Jamestown, RI	3.0	2.0	1619	$12,000	$7.41	11d	1	0.41mi
13 Arnold Ave #1 Jamestown, RI	2.0	2.5	1440	$4,000	$2.78	32d	1	0.97mi
9 Union St Unit 1 Jamestown, RI	2.0	2.0	1350	$2,700	$2.00	72d	1	1.00mi
14 Clinton Ave Unit 3 Jamestown, RI	3.0	3.5	2150	$6,000	$2.79	17d	1	1.06mi
36 Windsor St Jamestown, RI	3.0	2.5	1106	$4,200	$3.80	21d	1	1.28mi

Property features AI

Finance

• Financial info: Pets negotiable; small dogs under 25 lbs. typically allowed
• HOA & community: Monthly association fee of $790 covering grounds maintenance, pool(s), and snow removalCommunity amenities include pool, recreation facilities, and spa/hot tubCommunity of 19 unitsNeighborhood amenities include golf, marina, tennis courts, recreation area, restaurants and shopping, and highway access

Exterior

• Parking: Assigned parking (2 total spaces)No garage
• Utilities: Public water connectedPublic sewer connected100 amp electric service
• Home design: Condominium in a 2-story building (Jamestown Overlook)First-floor entry accessSlab foundationHas a view
• Construction: Drywall and shingle siding construction
• Exterior features: BalconyPatioBarbecueCommunity in-ground poolCommunity spa/hot tubWalk to water / beach frontageWaterfront viewPaved and wooded lot

Interior

• Kitchen: RefrigeratorOvenRangeRange hoodMicrowaveDishwasherElectric water heater
• Bedrooms: One bedroom located on the second floor
• Flooring: Ceramic tileCarpet
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Central heating (forced air, electric)Central air conditioning
• Interior features: FurnishedInterior stepsTub with shower
• Laundry & utility: In-unit laundry with washer and dryer

HOA detail $790/mo · $9,480/yr condo

• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $980,000 Active 82 DOM
2. 2026-08-07
   days on market $980,000 Active 81 DOM
3. 2026-08-06
   days on market $980,000 Active 80 DOM
4. 2026-08-05
   days on market $980,000 Active 79 DOM
5. 2026-08-04
   days on market $980,000 Active 78 DOM
6. 2026-08-03
   days on market $980,000 Active 77 DOM
7. 2026-07-31
   days on market $980,000 Active 74 DOM
8. 2026-07-30
   days on market $980,000 Active 73 DOM
9. 2026-07-30
   days on market $980,000 Active 72 DOM
10. 2026-07-28
    days on market $980,000 Active 71 DOM
11. 2026-07-26
    days on market $980,000 Active 69 DOM
12. 2026-07-24
    days on market $980,000 Active 67 DOM
13. 2026-07-23
    days on market $980,000 Active 66 DOM
14. 2026-07-22
    days on market $980,000 Active 65 DOM
15. 2026-07-21
    days on market $980,000 Active 64 DOM
16. 2026-07-20
    days on market $980,000 Active 63 DOM
17. 2026-07-18
    days on market $980,000 Active 61 DOM
18. 2026-07-18
    days on market $980,000 Active 60 DOM
19. 2026-07-16
    days on market $980,000 Active 59 DOM
20. 2026-07-15
    days on market $980,000 Active 58 DOM
21. 2026-07-14
    days on market $980,000 Active 57 DOM
22. 2026-07-13
    days on market $980,000 Active 56 DOM
23. 2026-07-13
    days on market $980,000 Active 55 DOM
24. 2026-07-11
    days on market $980,000 Active 54 DOM
25. 2026-07-10
    days on market $980,000 Active 53 DOM
26. 2026-07-09
    days on market $980,000 Active 52 DOM
27. 2026-07-07
    days on market $980,000 Active 50 DOM
28. 2026-07-06
    days on market $980,000 Active 49 DOM
29. 2026-07-05
    days on market $980,000 Active 48 DOM
30. 2026-07-03
    days on market $980,000 Active 46 DOM
31. 2026-07-02
    days on market $980,000 Active 45 DOM
32. 2026-07-01
    days on market $980,000 Active 44 DOM
33. 2026-06-30
    days on market $980,000 Active 43 DOM
34. 2026-06-29
    days on market $980,000 Active 42 DOM
35. 2026-06-28
    days on market $980,000 Active 41 DOM
36. 2026-06-27
    days on market $980,000 Active 40 DOM
37. 2026-06-27
    days on market $980,000 Active 39 DOM
38. 2026-06-25
    days on market $980,000 Active 37 DOM
39. 2026-06-22
    days on market $980,000 Active 35 DOM
40. 2026-06-21
    days on market $980,000 Active 34 DOM
41. 2026-06-18
    days on market $980,000 Active 31 DOM
42. 2026-06-17
    days on market $980,000 Active 30 DOM
43. 2026-06-16
    days on market $980,000 Active 29 DOM
44. 2026-06-15
    days on market $980,000 Active 28 DOM
45. 2026-06-13
    days on market $980,000 Active 26 DOM
46. 2026-06-09
    days on market $980,000 Active 22 DOM
47. 2026-06-08
    days on market $980,000 Active 21 DOM
48. 2026-06-07
    days on market $980,000 Active 20 DOM
49. 2026-06-03
    days on market $980,000 Active 16 DOM
50. 2026-06-02
    days on market $980,000 Active 15 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $108,273
• − Mortgage interest: −$54,895
• − Property taxes: −$14,700
• − Insurance: −$4,900
• − Repairs & maintenance: −$8,662
• − Management: −$8,662
• − HOA: −$9,480
• − Depreciation: −$28,509
• Taxable loss: −$21,535
• Est. tax savings @ 24.0%: +$5,168
• After-tax cash flow: $-47/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab Est. rehab $8,120–$24,360 screening

This waterfront condo is in good condition with a good exterior and interior. It has a good curb appeal and a great view of the water. It would benefit from a fresh coat of paint and some landscaping to further enhance its value.

Value-add opportunities

• Both Paint exterior walls — Fresh paint enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping — Well-maintained landscaping can increase both resale and rental value ↑
• Both Update interior decor — Fresh decor can make the space more inviting and increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 64/100

Zoned Schools

Elementary Jamestown School-Melrose B+ RI #5/167 Nat'l #4,366/41,679 Middle Jamestown School-Lawn B RI #3/57 Nat'l #2,208/14,009 High North Kingstown Sr. High B RI #4/58 Nat'l #2,354/17,239

Schools (NCES district)

• District: Jamestown
• NCES district ID: 4400510
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 68% ▲ 5.00%
• Median HH income: $88,929
• Composite: 54.32/100
• National rank: #1368
• State rank: #2 of 39 in RI

Livability — Jamestown

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Newport · 81,198 people
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 5,545
• Household income: $141,442
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 25% of renters

---

Population outlook (Newport County) Hauer SSP2

• Today (2025): 81,198 people
• By 2030: 79,518 · -2.1%
• By 2040: 75,581 · -6.9%
• By 2050: 71,801 · -11.6%
• By 2075: 64,618 · -20.4%
• By 2100: 56,724 · -30.1%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5%
• Common ancestry: Russian 4% Romanian 3% Lithuanian 3%
• Foreign-born: 2%
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1% Other Indo-European 1%

---

Political lean MEDSL · Newport

• 2024 margin: Strong D (+25.5) · D 61.6% · R 36.1% · Other 2.2%
• 2008→2024 swing: +2.2pp toward D · 2008: 23.3pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+29.8 2016: D+19.4 2012: D+17.7 2008: D+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -265.83%
• Current HPI: 388.7836
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.25%
• F500 in state: 10

---

Industry mix (Fortune 500 HQ in RI)

Industry	F500 HQs	Revenue
▸Healthcare	1	$373B
▸Food Distribution	1	$31B
▸Aerospace / Defense	1	$14B
▸Financial Services	1	$8B
▸Consumer Goods	1	$4B

Property features AI

Finance

• Financial info: Pets negotiable; small dogs under 25 lbs. typically allowed
• HOA & community: Monthly association fee of $790 covering grounds maintenance, pool(s), and snow removalCommunity amenities include pool, recreation facilities, and spa/hot tubCommunity of 19 unitsNeighborhood amenities include golf, marina, tennis courts, recreation area, restaurants and shopping, and highway access

Exterior

• Parking: Assigned parking (2 total spaces)No garage
• Utilities: Public water connectedPublic sewer connected100 amp electric service
• Home design: Condominium in a 2-story building (Jamestown Overlook)First-floor entry accessSlab foundationHas a view
• Construction: Drywall and shingle siding construction
• Exterior features: BalconyPatioBarbecueCommunity in-ground poolCommunity spa/hot tubWalk to water / beach frontageWaterfront viewPaved and wooded lot

Interior

• Kitchen: RefrigeratorOvenRangeRange hoodMicrowaveDishwasherElectric water heater
• Bedrooms: One bedroom located on the second floor
• Flooring: Ceramic tileCarpet
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Central heating (forced air, electric)Central air conditioning
• Interior features: FurnishedInterior stepsTub with shower
• Laundry & utility: In-unit laundry with washer and dryer

Price history

1 event — show timeline

• 2026-05-18 Listed $980,000 RIS