Investment Property on Aquidneck Island For the Savvy Investor

Calling all savvy investors!  LKRE presents to you, 3 Aquidneck Island Properties with endless income potential.  Explore these listings and learn our input on various income scenarios.

9 Phelps Rd – Middletown, RI

This unique space includes a 2 bed, 2 ½ bath main house, along with 2 bed, 2 bath apartment.  A spacious 2 car garage includes bonus square footage for even more internal expansion potential. This home has been thoughtfully refreshed throughout, boasting a revamped kitchen, dramatic front foyer, serene master suite, and efficient kitchenette in the apartment. Wrapping around the house are multiple decks and patios, and a long driveway offers plenty of parking for both units. Located just a quick drive from downtown Newport and beautiful area beaches, come explore your possibilities at Phelps!

Income scenarios:

Rent both the main house and apartment: $3,600 in monthly rental income

Live in the main house, rent the apartment: $1,800 in monthly rent income

Live in the apartment, rent the main house: $3,000 in monthly rent income

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26 & 26.5 Poplar – Newport, RI

The prospect of Poplar. Backed by strong rental history, this two-family offers a unique opportunity to live and/or invest in Newport.  This listing is compromised of a side-by-side layout of 2 single family homes that are attached by a connector with a lockable door on either side. #26.5 has been recently updated throughout with fresh paint, new lighting, and updated countertops.  The lot is conveniently located within the desirable Historic Point neighborhood with rare, ample parking for at least 4 cars. Enjoy walking distance to downtown Newport and the waterfront, with easy access on and off Aquidneck Island.

Income Scenarios:

  1. Rent out both properties in the winter. Use one unit for yourself in the summer while renting out the other.
  2. Keep both units for yourself in the summer, rent both out during the winter
  3. Rent one of the unit long-term, live in the other unit yourself

Each unit can rent for around $600/bedroom during winter (perfect for student rental)

Summer monthly: $5,000/month for either unit

Summer season: $14,000/summer season for either unit

Yearly: ~$2,200/month for either unit

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70 Carroll, Unit 901 – Newport, RI

Here is you opportunity to own in Ocean’s Way, Newport’s most affordable property within walking distance to the waterfront.  These economical units have strong rental history, making them excellent options for the savvy investor.  Unit 910 is white, bright, clean and sunny throughout.  It includes a new bathroom vanity, updated flooring, and brand new sliding glass doors which lead out to a coveted private, back patio.

Income scenarios:

Summer season: $5,500

Yearly: $1,200/month

Winter: $1,000/month

Condo association fee includes heat and water!

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