"Newport's average daily rent during summer 2024 was $473, with a current median home price of $1.3M, making it attractive for rental income despite high costs."
"Though summer rentals don't fully cover mortgages, they can offset about 50% of costs, allowing for property use during off-seasons."
Newport, Rhode Island, is a prominent summer destination known for its stunning cliffside mansions and vibrant maritime culture. While average summer rental income may not cover a mortgage entirely, it can offset around 50% of the costs, which ensures the property remains available for personal use during off-peak seasons. With a robust rental market and a median home price of $1.3 million, Newport has gained recognition as a lucrative investment opportunity, particularly appealing in a landscape where small-scale investors thrive.
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