150 Bay View Dr #1 · Jamestown, RI 02835

$675,000

2 bd · 2.0 ba · 1,490 sqft · Condo · 31 Days on market

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

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Why this score? — see what drove the B- 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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Condition / age +4.0/5.0
• 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 July 22nd. Assessment and taxes are estimated and are subject to change. HOA fees subject to change * Welcome to Jamestown Overlook, a reimagined coastal community formerly known as Newport Overlook, offering a rare opportunity to own a fully furnished condominium in Jamestown, Rhode Island. These desirable corner residences feature abundant natural light, spacious layouts with skylights, oversized bedrooms, laundry areas, some attic storage, and multiple outdoor entertaining spaces designed to capture some water and bridge views. Residents enjoy access to a pool, hot tub, lands

Key facts

• Spacious layouts
• Oversized bedrooms
• Laundry areas

Tags

• FULLY FURNISHED CONDOMINIUM
• ABUNDANT NATURAL LIGHT
• SPACIOUS LAYOUTS
• SKYLIGHTS
• OVERSIZED BEDROOMS
• LAUNDRY AREAS

Property features AI

Finance

• Other: Pets negotiable; small dogs under 25 lbs. generally allowed
• Financial info: Property listed as a fixer
• HOA & community: Monthly association fee ($790) covering 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, pool, near schools

Exterior

• Parking: Assigned parking (2 spaces total); No garage
• Utilities: Public water; Public sewer (connected); Electric service: 100 amps
• Home design: Condominium in a 2-story building (Jamestown Overlook); First-floor entry access; Has view; Entry level: 1
• Construction: Shingle siding with drywall interior; Built on slab foundation; Building has 2 stories
• Exterior features: Patio; Barbecue; Walk-to-water access; Paved and wooded grounds; Community in-ground pool; Community spa/hot tub

Interior

• Kitchen: Oven; Range; Range hood; Microwave; Refrigerator; Dishwasher
• Bedrooms: Bedroom on first floor (approx. 17.3 x 14.1)
• Flooring: Ceramic tile; Carpet
• Bathrooms: Two full bathrooms; One bathroom on first floor (approx. 6.1 x 10.4); One bathroom on second floor (approx. 6.8 x 8.8)
• Heating & cooling: Central heating (electric, forced air); Central air conditioning
• Interior features: Skylights; Attic; Interior steps; Storage; Stall shower; Tub shower; Furnished
• Laundry & utility: In-unit washer; In-unit dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $675k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $675k).
• Recommended offer: $655k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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; 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 $5k of loan paydown is wiped out by about $20k 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 $189k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($655k) 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 $654,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 6.0

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $13,528
• Equity at exit: $100,645

10-year hold

• IRR: 11.5%
• Equity multiple: 1.91×
• Total profit: $171,781
• Equity at exit: $58,362

Cash invested: $189,000 (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: 6.0×

Monthly cashflow live

• Estimated rent: $9,335 medium
• Mortgage (P&I): −$3,540
• Tax est. 1.5%: −$844 /mo · $10,125/yr
• Insurance: −$281
• HOA: −$790
• Vacancy / Maint / Mgmt: −$1,960
• Net cashflow: $1,920

Break-even live

Break-even rent $6,905

Max offer price $675,000

Occupancy floor 74%

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: $168,750
• Closing costs: $20,250
• 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	23d	1	0.41mi
9 Union St Unit 1 Jamestown, RI	2.0	2.0	1350	$2,700	$2.00	23d	1	1.00mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $675,000 Active 31 DOM
2. 2026-06-17
   days on market $675,000 Active 30 DOM
3. 2026-06-16
   days on market $675,000 Active 29 DOM
4. 2026-06-15
   days on market $675,000 Active 28 DOM
5. 2026-06-13
   days on market $675,000 Active 26 DOM
6. 2026-06-09
   days on market $675,000 Active 22 DOM
7. 2026-06-08
   days on market $675,000 Active 21 DOM
8. 2026-06-07
   days on market $675,000 Active 20 DOM
9. 2026-06-03
   days on market $675,000 Active 16 DOM
10. 2026-06-02
    days on market $675,000 Active 15 DOM
11. 2026-06-01
    days on market $675,000 Active 14 DOM
12. 2026-05-31
    days on market $675,000 Active 13 DOM
13. 2026-05-18
    listed $675,000 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: $112,021
• − Mortgage interest: −$37,810
• − Property taxes: −$10,125
• − Insurance: −$3,375
• − Repairs & maintenance: −$8,962
• − Management: −$8,962
• − HOA: −$9,480
• − Depreciation: −$19,636
• Taxable income: $13,671
• Est. tax owed @ 24.0%: −$3,281
• After-tax cash flow: $19,758/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 · 14 photos

Good 80/100 Cosmetic rehab

This property is in good condition with minimal repairs needed. Painting the exterior and interior walls, updating the flooring, and upgrading the kitchen appliances can significantly increase its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Painting can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the flooring — Updating the flooring can improve the overall look and feel of the property, making it more attractive to potential buyers and renters.
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances can make the property more appealing to potential buyers and renters, as it can add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Painting can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the flooring — Updating the flooring can improve the overall look and feel of the property, making it more attractive to potential buyers and renters. ↑
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances can make the property more appealing to potential buyers and renters, as it can add value to the property. ↑

ⓘ 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 — 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

1 event — show timeline

• 2026-05-18 Listed $675,000 RIS