USARIWesterly17 Summer St
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$700,000

Sold

6 months ago

17 Summer St, Westerly, RI

MLS® 1394316

8 Bed

3 Bath

3245 sqft

5 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 3245 sqft
Garage Yes
Taxes $3,993
Lot Size 
Approx. Age 1900
Avg. Price Per Sqft $215
MLS® Number 1394316

Property Address: 17 Summer St, Westerly, RI, 02891-7425

Average square foot calculated using Size range provided by listing agent.

Description

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.
MLS® Number1394316
Laundry LevelIn Unit
Central VacNo
FireplaceNo
Acreage0
Exterior
GarageYes
Approx. Age1900
BasementFull, Unfinished
DrivewayDetached, Garage, Garage Door Opener
Garage Spaces2
Heat
A/C
Heating Fuel

Extras

Price History

Sep 12, 2025End Date
$715,000Sold Price

Sold

Sep 4, 2025List Date
$700,000List Price
  • Commute

Commute

Starting Address
Destination Address
17 Summer St, Westerly, RI

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