Real Estate Investing in Little Compton, Rhode Island (02837)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02837 (Little Compton, RI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 37.7% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 34.8 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Little Compton, RI (02837)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02837 Little Compton
ZIP 02837 inside Newport County looks affordable on the surface — median value of $974K — but the discount exists for reasons that a careful buyer should understand before committing.
From an investor standpoint, the numbers look inviting — $974K purchase price, 0.0% nominal cap — the work to hit that pro forma in 02837 is substantial and deserves full respect.
In the broader RI picture, 02837 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 02837 ZIP's population of 3,601 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Little Compton:
Property Strategy for 02837
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $704,056 | $2,590 | 2.6% | +9.8% | $352,028 |
| 3BR | $936,858 | $3,130 | 2.4% | +10.0% | $312,286 |
| 4BR | $1,257,524 | $3,720 | 2.1% | +11.5% | $314,381 |
| 5BR | $2,665,924 | — | — | +11.9% | $533,185 |
Market Trends
Home Value History (with trend line)
📊 How Does 02837 Compare?
| Metric | 02837 | Little Compton | Rhode Island |
|---|---|---|---|
| Home Value | $974,173 | $974,173 | $487,363 |
| 5-Year CAGR | 6.8% | 6.8% | 8.8% |
| Avg Rent | $2,331 | $2,331 | - |
| Cap Rate | 1.9% | 1.9% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02837 (Little Compton, RI). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 02837 (Little Compton, RI)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $974,173 |
| Monthly Rent | $2,331 |
| Price-to-Rent | 34.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 02837
Population: 3,601
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 02837
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,250 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do rentals sit vacant long in Little Compton, RI?
Little Compton, RI sees elevated vacancy, which is reasonable relative to the broader RI rental market.
How landlord-friendly is Little Compton, RI?
For rental operators, Little Compton, RI rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Which real estate strategy fits Little Compton, RI?
In Little Compton, RI the healthy play is typically careful cash-flow rentals with hands-on management. The combination of $974K prices and $2,331/mo rents suits that approach.
Can I live-in-and-rent in Little Compton, RI?
House hacking works a challenging in Little Compton, RI. Rents of $2,331/mo against $974K acquisition make the strategy solid for owner-occupants.
Is Little Compton, RI a smart market for rental property?
Investors tracking Little Compton, RI will find a 3.0/5 rating supported by $974K median home values and $2,331/mo rents. That profile suits long-term holders targeting steady returns.
You know 02837 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02837 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 02837 ranks in Providence-Warwick, RI-MA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 02837 (Little Compton)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 02837 (Little Compton, RI).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.