Real Estate Investing in Hopkinton, Rhode Island (02873)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02873 (Hopkinton, RI)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 40.0% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 26.0 — 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 Hopkinton, RI (02873)?
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Market Analysis: 02873 Hopkinton
ZIP 02873 in Hopkinton, RI carries a significant set of headwinds. Home values near $517K and rents of $1,656/mo sit inside a market where underwriting has to be tight.
The investment case in 02873 is solid only for operators who understand what they are buying. A $517K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
The gap between 02873 and stronger Hopkinton ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 02873 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 02873 is an operator game, not a passive one. Stepping back, entry prices of $517K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Hopkinton:
Market Trends
Home Value History (with trend line)
📊 How Does 02873 Compare?
| Metric | 02873 | Hopkinton | Rhode Island |
|---|---|---|---|
| Home Value | $517,445 | $498,771 | $487,363 |
| 5-Year CAGR | 6.7% | 6.4% | 8.8% |
| Avg Rent | $1,656 | $1,577 | - |
| Cap Rate | 2.5% | 2.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02873 (Hopkinton, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $517,445 |
| Monthly Rent | $1,656 |
| Price-to-Rent | 26.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 (2.5%). 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 02873
Population: 89
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 02873
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Hope Valley Elementary School
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
What is the tenant pool like in Hopkinton, RI?
The renter base in Hopkinton, RI is reasonable for the $1,656/mo price point. Screening well and pricing to market typically yields stable tenants.
How does Hopkinton, RI rate as a rental market?
The 3.0/5 investability rating in Hopkinton, RI reflects its $517K prices and $1,656/mo rents. Investors generally consider it a solid option within RI.
How much should I expect to pay for a home in Hopkinton, RI?
In Hopkinton, RI the median home value sits at $517K. Against the broader RI market, that reads as reasonable for most investors.
What are vacancy rates like in Hopkinton, RI?
Occupancy in Hopkinton, RI runs stable with elevated vacancy. Well-priced units at $1,656/mo lease on reasonable timelines.
How landlord-friendly is Hopkinton, RI?
Hopkinton, RI operates under RI law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
You know 02873 now. You don’t know where it ranks.
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How 02873 ranks in Providence-Warwick, RI-MA
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