Newport Rhode Island Vacation Rentals

[Pat Chamara]

I am new to vacation rental investing (or any real estate investing for that matter) and trying to decide between buying my first vacation rental property in Cape-Cod, MA, and Newport, RI. I got in touch with a realtor regarding a Newport RI property that I came across and she mentioned to me Newport RI is becoming more desirable than Cape-Cod for vacation rentals. However, Newport rentals have a minimum 1-month stay requirement as opposed to the Cape. According to her, a 3 bed 2 bath rental would go for about 11 to 12k during the Summer and a 3 bed 1 bath apartment would go for about 6-7k. Apparently, such apartments also get rented in the winter for about 2k. Would like to know whether these stats are correct and if you own properties in the Cape or Newport what your experience is. Btw, I checked AirDNA and the average monthly rental rate for Newport is about 4,700 USD (and for Middletwon about 5,900), and for places in the Cape, is around 4,500 USD (Dennis).