150 Bay View Dr #12 · Newport, RI 02835

$825,000

2 bd · 2.0 ba · 1,666 sqft · Condo · 34 Days on market

Built 1985 Good condition $790/mo HOA · 8% of rent

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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 +20.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.6/10.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +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 July 22nd. 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 condominium in Jamestown, Rhode Island. These thoughtfully designed two bedroom, two bath residences feature abundant natural light, attached garages, skylights, dedicated laundry rooms, spacious multi level living, and multiple outdoor spaces including first floor patios and private decks off the living area with some views of Narragansett B

Key facts

• Multi level living
• First floor patios
• Attached garages

Tags

• ABUNDANT NATURAL LIGHT
• ATTACHED GARAGES
• SKYLIGHTS
• DEDICATED LAUNDRY ROOMS
• MULTI LEVEL LIVING
• FIRST FLOOR PATIOS

Property features AI

Finance

• Other: 19 units in the community
• Financial info: Pets allowed (negotiable); small dogs under 25 lbs. commonly accepted
• HOA & community: Monthly association fee of $790; HOA covers grounds maintenance, pool(s), and snow removal; Association amenities include pool, recreation facilities, and spa/hot tub; Community features: golf, marina, highway access, nearby shopping and restaurants, tennis courts, recreation area

Exterior

• Parking: Assigned parking; Attached garage; 1 garage space (covered); 2 total parking spaces
• Security: No specific security features listed
• Utilities: Public water (connected); Public sewer (connected); Electric service: 100 amp
• Home design: Condominium in Jamestown Overlook; 2-story building; First-floor entry access; Has a view
• Construction: Drywall interior; Shingle siding; Slab foundation; Year built not provided
• Exterior features: Balcony; Patio; Barbecue; Walk to water; Paved grounds; Wooded areas; Community in-ground pool; Community spa/hot tub; Recreation facilities

Interior

• Kitchen: Oven; Range; Microwave; Range hood; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: Bedrooms information not provided
• Flooring: Ceramic tile; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, forced air); Central air conditioning
• Interior features: Skylights; Attic access; Interior steps; Storage; Stall shower; Tub/shower; Furnished
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $825k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $825k).
• Recommended offer: $800k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.3% in Newport — 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 78/100 on livability (#5 in RI, #2,367 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: cost of living F.
• 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: 64 active listings in the ZIP; 2 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 $25k 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 34 days — a 3% lower offer ($800k) 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 $800,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-61,487
• Equity at exit: $123,010

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $41,176
• Equity at exit: $71,331

Cash invested: $231,000 (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: 64
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $9,639 medium
• Mortgage (P&I): −$4,326
• Tax est. 1.5%: −$1,031 /mo · $12,375/yr
• Insurance: −$344
• HOA: −$790
• Vacancy / Maint / Mgmt: −$2,024
• Net cashflow: $1,124

Break-even live

Break-even rent $8,217

Max offer price $825,000

Occupancy floor 83%

Sensitivity live

Price	-10% $1,694	-5% $1,409	+0% $1,124	+5% $839	+10% $554
Rent	-10% $362	-5% $743	+0% $1,124	+5% $1,504	+10% $1,885
Rate	-1.0pp $1,539	-0.5pp $1,334	base $1,124	+0.5pp $910	+1.0pp $692

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: $206,250
• Closing costs: $24,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	25d	1	0.41mi
9 Union St Unit 1 Jamestown, RI	2.0	2.0	1350	$2,700	$2.00	25d	1	1.00mi

HOA detail condo

• Monthly dues: $790 · $9,480/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $825,000 Active 34 DOM
2. 2026-06-18
   days on market $825,000 Active 31 DOM
3. 2026-06-17
   days on market $825,000 Active 30 DOM
4. 2026-06-16
   days on market $825,000 Active 29 DOM
5. 2026-06-15
   days on market $825,000 Active 28 DOM
6. 2026-06-13
   days on market $825,000 Active 26 DOM
7. 2026-06-09
   days on market $825,000 Active 22 DOM
8. 2026-06-08
   days on market $825,000 Active 21 DOM
9. 2026-06-07
   days on market $825,000 Active 20 DOM
10. 2026-06-03
    days on market $825,000 Active 16 DOM
11. 2026-06-02
    days on market $825,000 Active 15 DOM
12. 2026-06-01
    days on market $825,000 Active 14 DOM
13. 2026-05-31
    days on market $825,000 Active 13 DOM
14. 2026-05-18
    listed $825,000 Active

ⓘ 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: $115,672
• − Mortgage interest: −$46,213
• − Property taxes: −$12,375
• − Insurance: −$4,125
• − Repairs & maintenance: −$9,254
• − Management: −$9,254
• − HOA: −$9,480
• − Depreciation: −$24,000
• Taxable income: $972
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $13,251/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 · 13 photos

Good 75/100 Cosmetic rehab

This property is in good condition with minimal repairs needed. It has a good curb appeal and is well-maintained, making it a solid investment opportunity.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the kitchen appliances — Modernizing the kitchen appliances can make the property more appealing to potential buyers and renters, as it reflects a current and functional living space.
• Both Landscaping improvements — Enhancing the landscaping can improve the curb appeal and make the property more attractive to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the kitchen appliances — Modernizing the kitchen appliances can make the property more appealing to potential buyers and renters, as it reflects a current and functional living space. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the curb appeal and make the property more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Newport

• Score: 78/100
• State rank: #5
• US rank: #2367

Category grades

Amenities A+ Commute A+ Cost of living F Crime B+ Employment B- Housing C+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 23,448
• 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

1 event — show timeline

• 2026-05-18 Listed $825,000 RIS