17 Summer St Westerly, RI 02891
Estimated payment $4,118/month
Total Views
2,026
8
Beds
3
Baths
3,245
Sq Ft
$216
Price per Sq Ft
Highlights
- Marina
- Recreation Facilities
- 2 Car Detached Garage
- Wood Flooring
- Walking Distance to Water
- Porch
About This Home
Investing in a three-family property offers a unique blend of benefits for both new and experienced real estate investors, providing an excellent entry point into multi-unit ownership. The ability to generate multiple streams of rental income from a single property is a significant advantage over a single-family home. Even if one unit is temporarily vacant, the rent from the other two units can help cover expenses like the mortgage and maintenance, stabilizing your cash flow.
A key attraction of a triplex is the ability to use "house hacking," a strategy where you live in one unit while renting out the other two. This approach offers several financial benefits, including qualifying for more favorable residential financing, such as a loan with a lower down payment. The rental income from your tenants can significantly reduce or even eliminate your own housing costs, allowing you to build equity + wealth much faster than you could otherwise.
A triplex offers compelling economies of scale. You are managing three units in one location, which is far more efficient than managing three separate single-family homes scattered across Westerly. This centralization reduces operational costs for maintenance, repairs, + property management. Shared expenses for the roof, landscaping, or exterior repairs are spread across three units. This is a powerful way to scale your portfolio quickly + effectively without the complexity of juggling multiple transactions for individual properties.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,993
Year Built
- Built in 1900
Parking
- 2 Car Detached Garage
- Garage Door Opener
- Driveway
Home Design
- Stone Foundation
- Aluminum Siding
- Concrete Perimeter Foundation
- Plaster
Interior Spaces
- 3,245 Sq Ft Home
- 3-Story Property
- Unfinished Basement
- Basement Fills Entire Space Under The House
Kitchen
- Oven
- Range
- Dishwasher
- Disposal
Flooring
- Wood
- Carpet
- Ceramic Tile
Bedrooms and Bathrooms
- 8 Bedrooms
- 3 Full Bathrooms
- Bathtub with Shower
Laundry
- Laundry in unit
- Dryer
Outdoor Features
- Walking Distance to Water
- Porch
Utilities
- No Cooling
- Central Heating
- Heating System Uses Gas
- Baseboard Heating
- Water Heater
Listing and Financial Details
- Tax Lot 108
- Assessor Parcel Number 17SUMMERSTWEST
Community Details
Overview
- 2 Buildings
- 3 Units
Amenities
- Shops
- Public Transportation
Recreation
- Marina
- Recreation Facilities
Building Details
- Operating Expense $9,631
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $3,923 | $375,400 | $110,300 | $265,100 |
| 2023 | $3,716 | $365,700 | $110,300 | $255,400 |
| 2022 | $3,694 | $365,700 | $110,300 | $255,400 |
| 2021 | $3,414 | $283,100 | $96,200 | $186,900 |
| 2020 | $3,355 | $283,100 | $96,200 | $186,900 |
| 2019 | $3,324 | $283,100 | $96,200 | $186,900 |
| 2018 | $3,227 | $261,300 | $96,200 | $165,100 |
| 2017 | $3,136 | $261,300 | $96,200 | $165,100 |
| 2016 | $3,136 | $261,300 | $96,200 | $165,100 |
| 2015 | $3,153 | $280,800 | $98,100 | $182,700 |
| 2014 | $3,103 | $280,800 | $98,100 | $182,700 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/04/2025 09/04/25 | For Sale | $700,000 | +69.7% | $216 / Sq Ft |
| 11/17/2021 11/17/21 | Sold | $412,500 | -0.6% | $82 / Sq Ft |
| 10/19/2021 10/19/21 | For Sale | $415,000 | -- | $83 / Sq Ft |
Source: State-Wide MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $258,000 | -- | |
| Warranty Deed | $258,000 | -- | |
| Deed | -- | -- | |
| Deed | $304,000 | -- | |
| Deed | $293,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $60,000 | No Value Available | |
| Previous Owner | $244,000 | Purchase Money Mortgage | |
| Previous Owner | $234,400 | Purchase Money Mortgage |
Source: Public Records
Similar Homes in Westerly, RI
Source: State-Wide MLS
MLS Number: 1394316
APN: WEST-000067-000108
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