Real Estate Investing in Coventry, Rhode Island (02816)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02816 (Coventry, RI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Coventry, RI (02816)?
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Market Analysis: 02816 Coventry
Put differently, ZIP 02816 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $464K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $464K asset, 02816 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 02816 sits on the difficult end of the RI spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
The 02816 ZIP's population of 33,246 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
seems 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 Coventry:
Property Strategy for 02816
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $318,928 | $1,380 | 3.1% | +9.9% | $318,928 |
| 2BR | $369,579 | $1,700 | 3.3% | +9.5% | $184,789 |
| 3BR | $449,438 | $2,050 | 3.3% | +8.6% | $149,813 |
| 4BR | $567,603 | $2,440 | 3.1% | +8.8% | $141,901 |
| 5BR | $532,620 | — | — | +8.2% | $106,524 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02816 Compare?
| Metric | 02816 | Coventry | Rhode Island |
|---|---|---|---|
| Home Value | $464,323 | $508,044 | $487,363 |
| 5-Year CAGR | 6.7% | 7.0% | 8.8% |
| Avg Rent | $2,047 | $2,189 | - |
| Cap Rate | 3.4% | 3.4% | - |
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 02816 (Coventry, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $464,323 |
| Monthly Rent | $2,047 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (3.4%). 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 02816
Population: 33,246
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 02816
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 596 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Coventry, RI rate as a rental market?
Coventry, RI scores 3.0/5 for investability. Home values sit at $464K and rents near $2,047/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Should investors worry about vacancy in Coventry, RI?
Vacancy in Coventry, RI is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,047/mo.
How expensive is real estate in Coventry, RI?
The median home value in Coventry, RI is roughly $464K. That puts it reasonable relative to the RI statewide average.
What real estate strategy is ideal for Coventry, RI?
For Coventry, RI, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Where do rents currently stand in Coventry, RI?
The typical rental in Coventry, RI commands about $2,047/mo monthly. That rent profile steady cash flow against the $464K purchase basis.
You know 02816 now. You don’t know where it ranks.
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How 02816 ranks in Providence-Warwick, RI-MA
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