856 North Main Rd · Newport, RI 02835

$849,000

3 bd · 1.5 ba · 1,732 sqft · SingleFamily public records · 4 Days on market

Built 1900 1.00 ac lot Est $838k · at est.

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.9/15.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled beside the 26-acre Godena Farm, forever protected from development and part of the Conanicut Island Land Trust, this charming circa-1900 cottage offers privacy, character, and opportunity on a beautiful one-acre lot. Mature trees, classic stone walls, and a peaceful setting create a quiet retreat just off the bike path and approximately three miles from Jamestown Village. Featuring three bedrooms and one and a half baths, the home is ready for its next owner's vision. Neighboring 26 acres of protected conservation land, the property enjoys a rare sense of privacy and natural beauty while maintaining convenient access to town. With its timeless cottage charm, picturesque setting, and

Key facts

• One acre lot
• Classic stone walls
• Mature trees

Tags

• ONE ACRE LOT
• MATURE TREES
• CLASSIC STONE WALLS
• BIKE PATH
• PROTECTED CONSERVATION LAND

Property features AI

Finance

• HOA & community: Community amenities include golf, marina, pool, tennis courts, restaurant, shopping, highway access, and proximity to hospital

Exterior

• Parking: No garage; Space for 3 vehicles
• Utilities: 100 amp electric; Well water; Septic tank
• Home design: 2 stories; Stone foundation; Plaster and shingle siding
• Construction: Plaster construction; Shingle siding
• Exterior features: Deck; Lot approximately 1 acre; Zoned R80

Interior

• Kitchen: Water heater
• Bedrooms: Total rooms: 8
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Oil baseboard heating; Wall cooling units
• Interior features: Skylights; Interior steps
• Laundry & utility: Has basement with interior and exterior entry (unfinished space below grade: 238)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $849k.

Deal economics

• At list price, monthly cash flow is $11k ($128k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $849k).
• Cap rate 21.3% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $238k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $849,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.35% ✓
• Cap rate: 21.31%
• Cash-on-cash: 53.64%
• DSCR: 3.39
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $838,288
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
383 Davit Ave	0.22mi	2/2.0 (-1)	1,786 (+3%)	12mo	$720,000	$403	67
431 Felucca Ave	0.31mi	3/2.5	1,786 (+3%)	13mo	$860,000	$482	65
470 Gondola Ave	0.45mi	2/2.5 (-1)	1,654 (-4%)	8mo	$800,000	$484	56
449 Felucca Ave	0.36mi	2/2.0 (-1)	1,832 (+6%)	22mo	$850,000	$464	48
401 Sampan Ave	0.30mi	3/3.0	1,980 (+14%)	10mo	$960,000	$485	48
460 Schooner Ave	0.41mi	2/2.0 (-1)	1,544 (-11%)	10mo	$776,700	$503	48
431 Sampan Ave	0.35mi	3/2.0	1,540 (-11%)	20mo	$725,700	$471	47
66 Sloop St	0.25mi	2/2.0 (-1)	1,518 (-12%)	21mo	$870,000	$573	44
85 Frigate St	0.46mi	2/2.5 (-1)	1,512 (-13%)	11mo	$1,000,000	$661	39
51 Keel Ave	0.72mi	3/2.0	1,904 (+10%)	19mo	$850,000	$446	32

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: 51.7%
• Equity multiple: 3.27×
• Total profit: $539,018
• Equity at exit: $126,589

10-year hold

• IRR: 57.0%
• Equity multiple: 6.64×
• Total profit: $1,340,211
• Equity at exit: $73,406

Cash invested: $237,720 (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: 3.5×

Monthly cashflow live

• Estimated rent: $19,976 medium
• Mortgage (P&I): −$4,452
• Tax from tax record: −$350 /mo · $4,194/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,195
• Net cashflow: $10,625

Break-even live

Break-even rent $6,526

Max offer price $849,000

Occupancy floor 42%

Sensitivity live

Price	-10% $11,106	-5% $10,866	+0% $10,625	+5% $10,385	+10% $10,145
Rent	-10% $9,047	-5% $9,836	+0% $10,625	+5% $11,414	+10% $12,203
Rate	-1.0pp $11,053	-0.5pp $10,841	base $10,625	+0.5pp $10,405	+1.0pp $10,181

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: $212,250
• Closing costs: $25,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 Buoy St Jamestown, RI	2.0	2.0	1440	$2,650	$1.84	25d	1	0.67mi
376 E Shore Rd Jamestown, RI	4.0	2.5	2160	$40,000	$18.52	23d	1	0.75mi

Listing history 3 events

1. 2026-06-21
   days on market $849,000 Active 4 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $849,000 Active 1 DOM

ⓘ 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: $4,194 · $350/mo
• Projected year-2 tax: $9,016 · $751/mo
• Expected delta: +$4,822/yr (+$402/mo · 115.0%)

ⓘ 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: $239,708
• − Mortgage interest: −$47,557
• − Property taxes: −$4,194
• − Insurance: −$4,245
• − Repairs & maintenance: −$19,177
• − Management: −$19,177
• − Depreciation: −$24,698
• Taxable income: $120,660
• Est. tax owed @ 24.0%: −$28,958
• After-tax cash flow: $98,545/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 — 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

• 2026-06-17 Listed $849,000 RIS

Property tax history

+1.2%/yr

Latest (2025): $4,194 · +9.8% YoY. Source: county tax records.