505 Washington St, Coventry, RI, 02816
About This Home
Excellent investment opportunity in Coventry, Rhode Island featuring a well-maintained 6-unit residential property with a desirable unit mix of two 1-bedroom units and four 2-bedroom units. The layouts are functional and appealing, offering flexibility to accommodate a variety of tenants. This property presents strong income potential in a sought-after and convenient location. Off-street parking adds valuable convenience for residents. Ideally situated with easy access to shopping, dining, and everyday amenities along the Washington Street corridor. Quick access to Route 117 and Interstate 95 allows for an easy commute to Warwick, Cranston, and Providence. Close to Centre of New England, Tiogue Lake, and the Washington Secondary Bike Path for added lifestyle appeal.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1850
Materials
- Construction materials: Vinyl Siding
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Electric Water Heater,Gas Water Heater
Basement
- Has basement: Yes
- Basement: Full,Interior Entry,Unfinished
Bedrooms & Bathrooms
- Bedrooms: 10
- Bathrooms: 6
- Full bathrooms: 6
Features
- Flooring: Laminate,Other
Heating & Cooling
- Heating features: Electric,Baseboard
- Cooling features: None
Interior Area
- Total structure area: 5,222
- Total interior livable area: 3,685 sqft
Property
Details
- Attached to another structure: Yes
Lot
- Lot size: 7,840 sqft
Parking
- Total spaces: 10
- Parking features: No Garage
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Lightning
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Rhode Island Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,550 | $54,600 |
| Home Insurance * | $418 | $5,016 |
| Property Taxes | $1,027 | $12,324 |
| Electricity | $750 | $9,005 |
| Total | $6,745 | $80,940 |
Income You'd Need if You Spent...
Rhode Island FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-20 | Listed for sale | $900,000 |
| 2026-03-13 | Listed for rent | $1,350 |
| 2026-02-18 | Listing removed | $1,150 |
| 2026-02-11 | Price change | $1,150 |
| 2026-01-28 | Price change | $1,200 |
| 2025-12-09 | Price change | $1,250 |
| 2025-09-09 | Listed for rent | $1,400 |
| 2025-04-19 | Listing removed | $1,400 |
| 2025-04-17 | Listed for rent | $1,400 |
View on Zillow