Real Estate Investing in Richmond, Rhode Island (02812)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02812 (Richmond, 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: 13.2% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.1 — 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 Richmond, RI (02812)?
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Market Analysis: 02812 Richmond
The 02812 ZIP covers a section of Richmond that demands careful diligence. Prices near $536K look accessible, but the work to make a deal cash flow is real.
The 02812 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 02812 sits on the difficult end of the RI spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 02812 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 02812 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Richmond:
Market Trends
Home Value History (with trend line)
📊 How Does 02812 Compare?
| Metric | 02812 | Richmond | Rhode Island |
|---|---|---|---|
| Home Value | $535,835 | $535,705 | $487,363 |
| 5-Year CAGR | 6.2% | 6.3% | 8.8% |
| Avg Rent | $1,782 | $1,807 | - |
| Cap Rate | 2.6% | 2.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02812 (Richmond, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $535,835 |
| Monthly Rent | $1,782 |
| Price-to-Rent | 25.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +6.5% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (2.6%). 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 02812
Population: 1,432
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 02812
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Chariho Regional Middle School
Chariho High School
Chariho Alternative Learning A
Chariho Career and Tech Center
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
How does Richmond, RI stack up for property investment?
Richmond, RI posts an investability rating of 3.0/5, with median home values near $536K and average rents around $1,782/mo. That combination puts it in the solid tier for investor interest.
What monthly rent should investors expect in Richmond, RI?
Average rent in Richmond, RI is approximately $1,782/mo per month. Against $536K home values that yields a reasonable rent-to-price ratio.
Is vacancy a concern in Richmond, RI?
Expect elevated vacancy in Richmond, RI. Rents at $1,782/mo are absorbed by the tenant base without meaningful lag.
Is Richmond, RI landlord-friendly?
RI ranks as a landlord-friendly state for landlord-tenant law. Richmond generally follows the statewide framework, so landlords face reasonable operating rules.
What is the typical home price in Richmond, RI?
Homes in Richmond, RI typically sell near $536K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
You know 02812 now. You don’t know where it ranks.
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How 02812 ranks in Providence-Warwick, RI-MA
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