Real Estate Investing in New Shoreham, Rhode Island (02807)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02807 (New Shoreham, 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: 77.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 90.2 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in New Shoreham, RI (02807)?
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Market Analysis: 02807 New Shoreham
The 02807 ZIP in New Shoreham, RI is a local-operator market. Outside capital chasing a $1.8M entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 02807 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In the broader RI picture, 02807 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 02807 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 02807 is an operator game, not a passive one. Put differently, entry prices of $1.8M are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in New Shoreham:
Property Strategy for 02807
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $1,223,675 | $1,880 | 1.1% | +14.0% | $611,837 |
| 3BR | $1,736,286 | $2,340 | 1.0% | +14.4% | $578,762 |
| 4BR | $2,146,019 | $2,540 | 0.9% | +14.0% | $536,505 |
| 5BR | $2,625,650 | — | — | +13.4% | $525,130 |
Market Trends
Home Value History (with trend line)
📊 How Does 02807 Compare?
| Metric | 02807 | New Shoreham | Rhode Island |
|---|---|---|---|
| Home Value | $1,831,620 | $1,831,620 | $487,363 |
| 5-Year CAGR | 8.8% | 8.8% | 8.8% |
| Avg Rent | $1,692 | $1,692 | - |
| Cap Rate | 0.7% | 0.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02807 (New Shoreham, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $1,831,620 |
| Monthly Rent | $1,692 |
| Price-to-Rent | 90.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 1.1% |
| Cap Rate | 0.7% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +0.4% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 5-Year CAGR | +8.8% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 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 (0.7%). 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 02807
Population: 829
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 02807
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.
Frequently Asked Questions
How strong is the working-renter base in New Shoreham, RI?
Tenant demand in New Shoreham, RI is solid. The local workforce $1,692/mo rents across most rental classes.
Does New Shoreham, RI favor landlords or tenants?
Rental owners in New Shoreham, RI deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
What are home prices like in New Shoreham, RI?
Median home price in New Shoreham, RI is near $1.8M, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
Is New Shoreham, RI a good market for FHA house hackers?
New Shoreham, RI is a a tougher market for house hackers. FHA or conventional owner-occupant buyers find the $1.8M price point reasonable to enter.
How much is rent in New Shoreham, RI?
New Shoreham, RI rentals go for roughly $1,692/mo a month. That puts gross yield in solid territory relative to $1.8M acquisition costs.
You know 02807 now. You don’t know where it ranks.
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