Real Estate Investing in Warren, Rhode Island (02885)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02885 (Warren, 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: 10.7% vacancy may signal weakening demand.
What’s happening in Warren, RI (02885)?
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Market Analysis: 02885 Warren
This part of Bristol County is not an easy win. The 02885 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 02885 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 02885 sits on the difficult end of the RI spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 02885 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 02885 is an operator game, not a passive one. From an investor standpoint, entry prices of $551K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Warren:
Property Strategy for 02885
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $299,743 | $1,370 | 3.3% | +11.1% | $299,743 |
| 2BR | $436,284 | $1,690 | 2.8% | +9.2% | $218,142 |
| 3BR | $527,646 | $2,040 | 2.8% | +8.7% | $175,882 |
| 4BR | $605,663 | $2,420 | 2.9% | +8.4% | $151,416 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02885 Compare?
| Metric | 02885 | Warren | Rhode Island |
|---|---|---|---|
| Home Value | $550,830 | $550,830 | $487,363 |
| 5-Year CAGR | 6.2% | 6.2% | 8.8% |
| Avg Rent | $2,119 | $2,119 | - |
| Cap Rate | 3.0% | 3.0% | - |
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 02885 (Warren, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $550,830 |
| Monthly Rent | $2,119 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | +10.0% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). 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 02885
Population: 11,138
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 02885
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Barrington Middle School
Hampden Meadows School
Nayatt School
Primrose Hill School
Barrington High 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
Investor Insight: With 2,700 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong is tenant demand in Warren, RI?
Working renters make up the core of the Warren, RI tenant base. The pool is reasonable for investors targeting long-term holds.
Can I house hack in Warren, RI?
Warren, RI offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,119/mo rent level.
Are there empty rentals in Warren, RI?
Warren, RI sees elevated vacancy, which is reasonable relative to the broader RI rental market.
What do rentals go for in Warren, RI?
Average rent in Warren, RI is approximately $2,119/mo per month. Against $551K home values that yields a reasonable rent-to-price ratio.
How much should I expect to pay for a home in Warren, RI?
Typical homes in Warren, RI go for around $551K. The 5-year CAGR of 0.0% reliable price movement.
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