Real Estate Investing in South Kingstown, Rhode Island (02879)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02879 (South 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.
- High vacancy: 19.4% of homes vacant — above national norms.
What’s happening in South Kingstown, RI (02879)?
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Market Analysis: 02879 South Kingstown
ZIP 02879 inside Washington County looks affordable on the surface — median value of $740K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 02879 is solid only for operators who understand what they are buying. A $740K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 02879 among RI's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The demographic picture in 02879 includes headwinds that any investor should price in. Income distribution skews lower than South Kingstown averages, and tenant stability requires active management.
The 02879 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in South Kingstown:
Property Strategy for 02879
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $441,751 | $1,520 | 2.5% | +8.1% | $441,751 |
| 2BR | $614,774 | $1,880 | 2.2% | +10.0% | $307,387 |
| 3BR | $685,833 | $2,270 | 2.4% | +9.2% | $228,611 |
| 4BR | $846,745 | $2,700 | 2.3% | +9.6% | $211,686 |
| 5BR | $999,438 | — | — | +9.5% | $199,888 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02879 Compare?
| Metric | 02879 | South Kingstown | Rhode Island |
|---|---|---|---|
| Home Value | $740,436 | $719,390 | $487,363 |
| 5-Year CAGR | 7.5% | 7.3% | 8.8% |
| Avg Rent | $2,570 | $2,117 | - |
| Cap Rate | 2.7% | 2.3% | - |
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 02879 (South Kingstown, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $740,436 |
| Monthly Rent | $2,570 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | +8.8% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +7.5% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | +2.2% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 02879
Population: 22,628
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 02879
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
What real estate strategy is ideal for South Kingstown, RI?
In South Kingstown, RI the substantial play is typically careful cash-flow rentals with hands-on management. The combination of $740K prices and $2,570/mo rents suits that approach.
How qualified is the tenant pool in South Kingstown, RI?
Tenant demand in South Kingstown, RI is solid. The local workforce $2,570/mo rents across most rental classes.
How strong are rents in South Kingstown, RI?
Rental rates in South Kingstown, RI average $2,570/mo. Tenant demand and $740K home values make the yield look reasonable by investor standards.
Is South Kingstown, RI good for house hacking?
The a challenging house-hack environment in South Kingstown, RI reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What are vacancy rates like in South Kingstown, RI?
Occupancy in South Kingstown, RI runs steady with elevated vacancy. Well-priced units at $2,570/mo lease on reasonable timelines.
You know 02879 now. You don’t know where it ranks.
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How 02879 ranks in Providence-Warwick, RI-MA
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