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2 Essex Dr, Westerly, RI 02891

3 beds • 4 baths • 1908 sqft

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This property looks like a bad Airbnb investment with a projected -18.02% first-year return on $186k initial cash invested.

-18.02%

Cash On Cash

2.38%

Cap Rate

0.38

DSCR

$3,990

Rent

-$2,799

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$3,990 income − $6,789 expenses = $2,799 out of pocket

Income$3,990Out of Pocket$2,799Mortgage P&I$4,227106%Property Taxes$3659%Insurance$2817%Management$59815%CapEx$1604%Maintenance$1604%Other$99825%

Investment Breakdown

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Purchase Price

$802k

Downpayment

20.0%

Interest Rate

6.9%

Mortgage Duration

30yr.

Cash To Invest

Total

$186k

Downpayment

20%

$160k

Closing costs

1%

$8,019

Rehab

0%

$0

Furnishing

2%

$18,000

Cashflow

Total Income

$3,990

Total Expenses

$6,789

Mortgage P&I

106%

$4,227

Property Taxes

9%

$365

Home Insurance

7%

$281

HOA

0%

$0

Property Management

15%

$598

CapEx

4%

$160

Vacancy

0%

$0

Maintenance

4%

$160

Other

25%

$998

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Comparable Property

Rent

ADR

Beds

Baths

Distance

Charming Beach Cottage

$5,064

$450

3

3

0.16 mi

SHORT WALK TO THE BEACH.

$5,402

$480

3

3

0.58 mi

*New for 2025 3BR Coastal Home 1 ML from Beach*

$4,479

$398

3

2.5

0.22 mi

104 W Rancho Del Cerro

$2,500

$250

4

2

1.3 mi

1255 S Forest Knoll St

$1,100

$110

2

1

0.9 mi

2022 S American St

$2,850

$285

5

4

0.6 mi

1255 S Forest Knoll St

$1,100

$110

2

1

0.9 mi

2022 S American St

$2,850

$285

5

4

0.6 mi

1255 S Forest Knoll St

$1,100

$110

2

1

0.9 mi

2022 S American St

$2,850

$285

5

4

0.6 mi

Projection Charts

Investment Value YoY

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