Real Estate Investing in North Kingstown, Rhode Island (02874)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02874 (North Kingstown, 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.
- Elevated vacancy: 10.6% vacancy may signal weakening demand.
- High price-to-rent: Price-to-rent ratio 44.0 — 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 North Kingstown, RI (02874)?
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Market Analysis: 02874 North Kingstown
Turning to rents, ZIP 02874 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $894K median. It rewards specialists, not generalists.
The investment case in 02874 is significant only for operators who understand what they are buying. A $894K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 02874 sits on the difficult end of the RI spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
A significant renter share of 14% in 02874 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Experienced landlords with local relationships tend to find 02874 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in North Kingstown:
Property Strategy for 02874
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $576,214 | $1,880 | 2.3% | +11.4% | $288,107 |
| 3BR | $732,843 | $2,280 | 2.2% | +10.3% | $244,281 |
| 4BR | $1,004,128 | $2,700 | 1.9% | +10.3% | $251,032 |
| 5BR | $1,345,801 | — | — | +10.9% | $269,160 |
Market Trends
Home Value History (with trend line)
📊 How Does 02874 Compare?
| Metric | 02874 | North Kingstown | Rhode Island |
|---|---|---|---|
| Home Value | $894,275 | $769,205 | $487,363 |
| 5-Year CAGR | 8.3% | 7.8% | 8.8% |
| Avg Rent | $1,692 | $2,063 | - |
| Cap Rate | 1.5% | 2.2% | - |
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 02874 (North Kingstown, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $894,275 |
| Monthly Rent | $1,692 |
| Price-to-Rent | 44.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.3% |
| Cap Rate | 1.5% |
| 5-Year IRR | 9.8% |
📈 Home Appreciation
| 1-Year | +8.5% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +8.3% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 (1.5%). 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 02874
Population: 6,715
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 02874
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 926 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in North Kingstown, RI?
Expect median prices around $894K in North Kingstown, RI. The market has run at a 0.0% 5-year CAGR, so entry costs have been steady.
How deep is the rental pool in North Kingstown, RI?
Tenant quality in North Kingstown, RI ranks as solid. Landlords generally report reliable occupancy at market rents of $1,692/mo.
What approach is best for North Kingstown, RI real estate?
In North Kingstown, RI the resilient play is typically careful cash-flow rentals with hands-on management. The combination of $894K prices and $1,692/mo rents suits that approach.
Is North Kingstown, RI good for house hacking?
House hacking in North Kingstown, RI is reasonable to execute. Prices around $894K and rents of $1,692/mo solid owner-occupant economics.
Do landlords face vacancy issues in North Kingstown, RI?
North Kingstown, RI sees elevated vacancy, which is reasonable relative to the broader RI rental market.
You know 02874 now. You don’t know where it ranks.
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How 02874 ranks in Providence-Warwick, RI-MA
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