West Warwick Rhode Island Investing

[Christopher Lynch]

I bought a oversized duplex in West Warwick last year. It is townhouse style and very nice. 3 bedrooms each unit 1.5 bathrooms. Oversized driveway for parking and a detached 2 car garage. 

Inside each unit you find hardwood flooring and the units are updated. One unit even has white granite counter tops and stainless. 

Rental comps are coming back at $1400-$1600 per unit. My big concern is tenant quality. I don’t want to have headaches once fully rented. I currently owner occupy it. 

Does anyone have experience with rental property in West Warwick and will it be easy to fill the units at these rents? 

[Anthony Thompson]

@Christopher Lynch unfortunately you can't boil everything down to #s, particularly those grades for neighborhoods.

You might find different investors disagree on a neighborhood, though usually not by much. One might call it a B while another might say B- borderline C.

I'm a big fan of numbers, analysis and spreadsheets but that's an area I haven't yet found an easy way to quantify.

I know it's not really the answer you're looking for, but with those guidelines in mind, and after looking at enough houses in enough areas, you will eventually be able to make a pretty good call on neighborhoods. In fact it will probably happen a lot faster than you think.