Real Estate Investing in South Kingstown, Rhode Island (02881)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02881 (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: 12.5% of homes vacant — above national norms.
- Elevated poverty: 29.5% poverty rate — can affect rent collection.
- High price-to-rent: Price-to-rent ratio 35.0 — 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 South Kingstown, RI (02881)?
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Market Analysis: 02881 South Kingstown
ZIP 02881 in South Kingstown, RI carries a durable set of headwinds. Home values near $698K and rents of $1,665/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 02881 can be a a solid fit for hunting ground — but the discount at $698K reflects genuine risk that outside investors often underestimate.
Within RI, ZIP 02881 trails on several market indicators that neighboring Washington County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
The demographic picture in 02881 includes headwinds that any investor should price in. Income distribution skews lower than South Kingstown averages, and tenant stability requires active management.
trends toward 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 South Kingstown:
Property Strategy for 02881
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $642,524 | $2,230 | 2.5% | +9.4% | $214,175 |
| 4BR | $725,202 | $2,650 | 2.6% | +8.8% | $181,301 |
Market Trends
Home Value History (with trend line)
📊 How Does 02881 Compare?
| Metric | 02881 | South Kingstown | Rhode Island |
|---|---|---|---|
| Home Value | $698,344 | $719,390 | $487,363 |
| 5-Year CAGR | 7.0% | 7.3% | 8.8% |
| Avg Rent | $1,665 | $2,117 | - |
| Cap Rate | 1.9% | 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 02881 (South Kingstown, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $698,344 |
| Monthly Rent | $1,665 |
| Price-to-Rent | 35.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 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 (1.9%). 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 02881
Population: 7,183
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 02881
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 approach is best for South Kingstown, RI real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in South Kingstown, RI. The numbers - $698K homes against $1,665/mo rents - support that play.
How deep is the rental pool in South Kingstown, RI?
Expect a solid tenant pool in South Kingstown, RI. The rental market absorbs $1,665/mo rents without meaningful friction.
Are eviction rules reasonable in South Kingstown, RI?
For rental operators, South Kingstown, RI rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Does house hacking work in South Kingstown, RI?
House hacking works a challenging in South Kingstown, RI. Rents of $1,665/mo against $698K acquisition make the strategy solid for owner-occupants.
What is the average home sale price in South Kingstown, RI?
Typical homes in South Kingstown, RI go for around $698K. The 5-year CAGR of 0.0% even-keeled price movement.
You know 02881 now. You don’t know where it ranks.
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How 02881 ranks in Providence-Warwick, RI-MA
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