Real Estate Investing in Charlestown, Rhode Island (02813)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02813 (Charlestown, 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: 35.3% of homes vacant — above national norms.
What’s happening in Charlestown, RI (02813)?
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Market Analysis: 02813 Charlestown
This part of Washington County is not an easy win. The 02813 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $707K asset, 02813 is the wrong submarket. If the plan prices in friction, the yield can still work.
In practical terms, 02813 offers a low basis, the region around Charlestown has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 02813 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Charlestown's stable or hybrid ZIPs before stepping into 02813. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Charlestown:
Property Strategy for 02813
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $373,104 | $1,590 | 3.1% | +10.0% | $373,104 |
| 2BR | $513,780 | $1,960 | 2.7% | +10.6% | $256,890 |
| 3BR | $708,210 | $2,370 | 2.4% | — | $236,070 |
| 4BR | $1,043,067 | $2,810 | 1.9% | — | $260,767 |
| 5BR | $2,024,180 | — | — | +13.9% | $404,836 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02813 Compare?
| Metric | 02813 | Charlestown | Rhode Island |
|---|---|---|---|
| Home Value | $706,552 | $706,552 | $487,363 |
| 5-Year CAGR | 6.6% | 6.6% | 8.8% |
| Avg Rent | $2,499 | $2,499 | - |
| Cap Rate | 2.8% | 2.8% | - |
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 02813 (Charlestown, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $706,552 |
| Monthly Rent | $2,499 |
| Price-to-Rent | 23.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.8% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (2.8%). 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 02813
Population: 8,017
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 02813
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
Frequently Asked Questions
Do landlords face vacancy issues in Charlestown, RI?
Expect elevated vacancy in Charlestown, RI. Rents at $2,499/mo are absorbed by the tenant base without meaningful lag.
How deep is the rental pool in Charlestown, RI?
The tenant pool in Charlestown, RI is solid, supported by local employment and population fundamentals. Rents of $2,499/mo are well-absorbed by the market.
What type of investing works in Charlestown, RI?
A careful cash-flow rentals with hands-on management strategy Charlestown, RI best. The market produces consistent results for that approach at the $707K price point.
How landlord-friendly is Charlestown, RI?
Landlord-friendliness in Charlestown, RI is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What is the investability score for Charlestown, RI?
Yes - Charlestown, RI a 3.0/5 investability score. With $707K home prices against $2,499/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 02813 now. You don’t know where it ranks.
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How 02813 ranks in Providence-Warwick, RI-MA
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