94 Spindrift St · Jamestown, RI 02835

$925,000

3 bd · 3.0 ba · 2,589 sqft · SingleFamily public records · 60 Days on market

Built 1988 7,405 sqft lot Est $1320k · 30% under

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Why this score? — see what drove the C- 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).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• Schools +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL WATER VIEWS OF NARRAGANSETT BAY 18X14 MBR SUITE WITH JACUZZI BEING CONSTRUCTED NOW CHOOSE YOUR OWN CARPET WITH SELLER CREDIT GREAT PROPERTY, CALL TODAY FOR SHOWING

Key facts

• Roof deck
• Stone patios
• Mature landscaping

Tags

• PRIVATE OUTDOOR SPACES
• STONE PATIOS
• MATURE LANDSCAPING
• ROOF DECK
• SEASONAL WATER VIEWS
• MULTIPLE LAYOUT POSSIBILITIES

Property features AI

Finance

• HOA & community: Community features include highway access, marina, and pool

Exterior

• Parking: Attached garage (1 garage space); Total parking for 4 vehicles; 1 covered parking space
• Utilities: Electric: 100 amps; Sewer: Septic tank; Water: Private well
• Home design: 3 stories; Has a view; Slab foundation
• Construction: Drywall interior; Vinyl siding
• Exterior features: Balcony; Deck; Porch; Patio; Sprinkler/irrigation system; Paved driveway; Walk-to-water access; Lot includes sprinkler system

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Trash compactor
• Bedrooms: Multiple bedrooms (total rooms include bedrooms; total rooms: 7)
• Flooring: Carpet; Ceramic tile; Hardwood
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Has heating: Baseboard, Ductless, Electric, Forced air, Oil; Has cooling: Ductless, Wall unit(s)
• Interior features: Wet bar; Interior steps; Stall shower; Finished basement with interior and exterior entry; Two masonry fireplaces
• Laundry & utility: Washer; Dryer; Oil water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $925k.

Deal economics

• At list price, monthly cash flow is $26k ($312k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($40k rent vs $925k).
• Recommended offer: $897k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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.
• Market conditions: 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 94 units permitted in Newport County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $259k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($897k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $335k; list at $925k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $897,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.32% ✓
• Cap rate: 40.03%
• Cash-on-cash: 120.49%
• DSCR: 6.36
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $1,320,390
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 Hull St	0.20mi	3/2.5	2,524 (-2%)	15mo	$950,000	$376	72
20 Beach Ave	0.38mi	2/3.5 (-1)	2,556 (-1%)	21mo	$1,250,000	$489	56
20 Cedar Ridge Trl	0.46mi	4/3.5 (+1)	2,617 (+1%)	19mo	$1,335,000	$510	53
168 Seaside Dr	0.14mi	2/2.5 (-1)	2,280 (-12%)	18mo	$1,710,000	$750	51
25 Spanker St	0.71mi	3/3.0	2,714 (+5%)	11mo	$899,900	$332	50
45 Cedar Ridge Trl	0.43mi	4/2.5 (+1)	2,340 (-10%)	22mo	$1,225,000	$524	38

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: —
• Equity multiple: 6.82×
• Total profit: $1,506,503
• Equity at exit: $137,921

10-year hold

• IRR: —
• Equity multiple: 14.30×
• Total profit: $3,445,022
• Equity at exit: $79,977

Cash invested: $259,000 (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: 62
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $40,000 medium
• Mortgage (P&I): −$4,851
• Tax from tax record: −$359 /mo · $4,304/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,400
• Net cashflow: $26,005

Break-even live

Break-even rent $7,082

Max offer price $925,000

Occupancy floor 30%

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
376 E Shore Rd Jamestown, RI	4.0	2.5	2160	$40,000	$18.52	21d	1	1.37mi

Listing history 20 events

1. 2026-06-18
   days on market $925,000 Active 60 DOM
2. 2026-06-17
   days on market $925,000 Active 59 DOM
3. 2026-06-16
   days on market $925,000 Active 58 DOM
4. 2026-06-15
   days on market $925,000 Active 57 DOM
5. 2026-06-13
   days on market $925,000 Active 55 DOM
6. 2026-06-09
   days on market $925,000 Active 51 DOM
7. 2026-06-08
   days on market $925,000 Active 50 DOM
8. 2026-06-07
   days on market $925,000 Active 49 DOM
9. 2026-06-03
   days on market $925,000 Active 45 DOM
10. 2026-06-02
    days on market $925,000 Active 44 DOM
11. 2026-06-01
    days on market $925,000 Active 43 DOM
12. 2026-05-31
    days on market $925,000 Active 42 DOM
13. 2026-04-19
    listed $925,000 Active
14. 2026-02-25
    historical
15. 2025-10-17
    listed $995,000 Active
16. 2019-09-20
    price $349,900 173-char remark

    Show marketing remark (173 chars)

    BEAUTIFUL WATER VIEWS OF NARRAGANSETT BAY 18X14 MBR SUITE WITH JACUZZI BEING CONSTRUCTED NOW CHOOSE YOUR OWN CARPET WITH SELLER CREDIT GREAT PROPERTY, CALL TODAY FOR SHOWING

17. 2001-04-16
    soldstatus $335,000 173-char remark

    Show marketing remark (173 chars)

    BEAUTIFUL WATER VIEWS OF NARRAGANSETT BAY 18X14 MBR SUITE WITH JACUZZI BEING CONSTRUCTED NOW CHOOSE YOUR OWN CARPET WITH SELLER CREDIT GREAT PROPERTY, CALL TODAY FOR SHOWING

18. 2001-03-30
    soldstatus $335,000
19. 2001-01-20
    historical 173-char remark

    Show marketing remark (173 chars)

    BEAUTIFUL WATER VIEWS OF NARRAGANSETT BAY 18X14 MBR SUITE WITH JACUZZI BEING CONSTRUCTED NOW CHOOSE YOUR OWN CARPET WITH SELLER CREDIT GREAT PROPERTY, CALL TODAY FOR SHOWING

20. 2000-07-18
    listed $364,900 173-char remark

    Show marketing remark (173 chars)

    BEAUTIFUL WATER VIEWS OF NARRAGANSETT BAY 18X14 MBR SUITE WITH JACUZZI BEING CONSTRUCTED NOW CHOOSE YOUR OWN CARPET WITH SELLER CREDIT GREAT PROPERTY, CALL TODAY FOR SHOWING

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

Tax reassessment forecast RI · Partial reset (capped growth)

• Current annual tax: $4,304 · $359/mo
• Projected year-2 tax: $9,691 · $808/mo
• Expected delta: +$5,387/yr (+$449/mo · 125.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $480,000
• − Mortgage interest: −$51,814
• − Property taxes: −$4,304
• − Insurance: −$4,625
• − Repairs & maintenance: −$38,400
• − Management: −$38,400
• − Depreciation: −$26,909
• Taxable income: $315,548
• Est. tax owed @ 24.0%: −$75,731
• After-tax cash flow: $236,330/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.

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

• Population (ZIP): 5,545

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

Price history

+153.5% since first listed

8 events — show timeline

• 2026-04-19 Listed $925,000 RIS
• 2026-02-25 Listing Removed — RIS
• 2025-10-17 Listed $995,000 RIS
• 2019-09-20 Price Changed $349,900 RIS
• 2001-04-16 Sold (MLS) $335,000 RIS
• 2001-03-30 Sold (Public Records) $335,000 Public Records
• 2001-01-20 Listing Removed — RIS
• 2000-07-18 Listed $364,900 RIS

Property tax history

+1.5%/yr

Latest (2025): $4,304 · +10.7% YoY. Source: county tax records.