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60-060 Madison Way, Prudence Island, RI, 02872

2beds
1baths
1,600sqft
$499,000
$312price/sqft
$3,650/moest. monthly cost
$146,000/yrincome needed

About This Home

Turn-key raised ranch located on a desirable corner lot in the sought-after Homestead neiglhborhood of Prudence Island. Thiswell-maintained home offers open living space, large bedrooms, and approximately 1,318 sq ft of finished living area including abright finished lower level with full windows. The home is in pristine condition and comes fully furnished, making it truly move-inready. Recent improvements include new Trex decking installed last year, perfect for relaxing or entertaining. Additional featuresinclude a water filtration system and two oil tanks, providing comfort and reliability for year-round island living. Ideally locatedwithin walking distance to the beach and ferry, offering easy access to everything Prudence Island has to offer. An opportunity toown a beautifully maintained island home in one of Prudence’s most desirable neighborhoods.

Getting Around

0
WalkingCar-Dependent
0
TransitVery Limited Transit
11
BikeSomewhat Bikeable

Schools

10/10
Melville SchoolGrades PK-43.2 mi
8/10
Portsmouth Middle SchoolGrades 5-84.9 mi
9/10
Portsmouth High SchoolGrades 9-123.2 mi

Construction

Condition

  • Year built: 2009

Materials

  • Foundation: Concrete Perimeter

Type & Style

  • Home type: SingleFamily
  • Architectural style: Raised Ranch
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Water Heater

Basement

  • Has basement: Yes
  • Basement: Partial

Bedrooms & Bathrooms

  • Bedrooms: 2
  • Bathrooms: 1
  • Full bathrooms: 1

Features

  • Finished area above ground: 1,600

Heating & Cooling

  • Heating features: Forced Air,Oil
  • Cooling features: None

Interior Area

  • Total structure area: 1,600
  • Total interior livable area: 1,600 sqft

Property

Details

  • Parcel number: 378107
  • Zoning: R

Features

  • Waterfront features: 0 to 1/10 Mile To Beach

Lot

  • Lot size: 10,454 sqft
  • Features: Wooded

Parking

  • Total spaces: 3
  • Uncovered spaces: 3

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

  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Tsunami

FEMA Declared Disasters Across Rhode Island Counties

Severe Storm

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

MonthlyAnnual
Mortgage $2,523$30,276
Home Insurance *$381$4,572
Property Taxes $357$4,284
Electricity $389$4,675
Total$3,650$43,800
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$125,142/yr
40% on housing$109,500/yr
45% on housing$97,333/yr

Rhode Island FAIR Plan Programs

Rhode Island Joint Reinsurance Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 16,029Commercial: 109
Total Premiums$36.73M
Total Exposure$6.14B

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.

Insurance Growth Rate5-year average: 6.3%
6.3%
0%30.0%
Electricity Growth Rate10-year average: 6.7%
6.7%
0%15.0%
Property Taxes Growth Rate2-year average: -1.7%
-1.7%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$312This listing

vs Other Active Listings

Avg $/sqft

ZIP 02872$348
Newport County$549

vs Homes Sold Last Month

Median $/sqft

ZIP 02872$252
Newport County$380

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)

No zestimate history available

Price History

DateEventPrice
2026-03-08Listed for sale$554,900

For Sale by Agent

AgentJohn Hiatt
BrokerageJH Realty Group LLC

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