Seller's Agent in 2025
Bill Fain
Fantastic Real Estate & Invest
(860) 514-4440
1 in this area
13 Total Sales
17 Summer St Westerly, RI 02891
8
Beds
3
Baths
3,245
Sq Ft
1900
Built
Highlights
- Marina
- Recreation Facilities
- 2 Car Detached Garage
- Wood Flooring
- Walking Distance to Water
- Porch
About This Home
As of October 2025Investing 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.
Last Agent to Sell the Property
Fantastic Real Estate & Invest License #REB.0018040 Listed on: 09/04/2025
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
- Laundry in unit
Kitchen
- Oven
- Range
- Dishwasher
- Disposal
Flooring
- Wood
- Carpet
- Ceramic Tile
Bedrooms and Bathrooms
- 8 Bedrooms
- 3 Full Bathrooms
- Bathtub with Shower
Outdoor Features
- Walking Distance to Water
- Porch
Utilities
- No Cooling
- Central Heating
- Heating System Uses Gas
- Baseboard Heating
- Water Heater
Listing and Financial Details
- Tenant pays for hot water
- 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
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 4, 2025
Closed on
Oct 14, 2025
Sold by
River Rail Llc
Bought by
Gates Maxwell
Seller's Agent
Bill Fain
Fantastic Real Estate & Invest
Buyer's Agent
Jeffrey Wilson
Edge Realty RI
List Price
$700,000
Sold Price
$715,000
Premium/Discount to List
$15,000
2.14%
Views
26
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-52.10%
Original Mortgage
$536,250
Outstanding Balance
$535,810
Interest Rate
7%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$128,449
Purchase Details
Closed on
Nov 18, 2013
Sold by
Fiore Gina M
Bought by
Paterno C P
Purchase Details
Closed on
Sep 1, 2010
Sold by
Fiore Darren and Fiore Gina M
Bought by
Fiore Gina M
Purchase Details
Closed on
Jul 31, 2007
Sold by
Vongvixay Dovangmala and Vongvixay Christina Y
Bought by
Fiore Darren A and Fiore Gina M
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$244,000
Interest Rate
6.78%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Jan 11, 2005
Sold by
Chan Lai Cheung and Chan Mai Yuk
Bought by
Ananthaphab Yoko and Vongvixay Douangmala
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$234,400
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $715,000 | -- | |
| Warranty Deed | $258,000 | -- | |
| 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 |
|---|---|---|---|
| Open | $536,250 | Purchase Money Mortgage | |
| Previous Owner | $60,000 | No Value Available | |
| Previous Owner | $244,000 | Purchase Money Mortgage | |
| Previous Owner | $234,400 | Purchase Money Mortgage |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/15/2025 10/15/25 | Sold | $715,000 | +2.1% | $220 / Sq Ft | |
| 09/12/2025 09/12/25 | Pending | -- | -- | -- | |
| 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 | View Prior Sale |
| 10/19/2021 10/19/21 | For Sale | $415,000 | -- | $83 / Sq Ft |
Source: State-Wide MLS
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2025 | $4,110 | $528,300 | $153,700 | $374,600 |
| 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
Agents Affiliated with this Home
-
Bill Fain
-
Jeffrey Wilson
J
Buyer's Agent in 2025
Jeffrey Wilson
Edge Realty RI
(401) 219-3177
2 in this area
15 Total Sales
-
Andy Schilke
Seller's Agent in 2021
Andy Schilke
Schilke Realty
(401) 326-2013
107 in this area
240 Total Sales
-
S
Buyer's Agent in 2021
Simon Brown
Bhhs New England Properties
Map
Source: State-Wide MLS
MLS Number: 1394316
APN: WEST-000067-000108
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