Fantastic Investment Opportunity in Coventry! This fully rented 3-family multi-unit offers steady income from day one and is perfect for both new and seasoned investors. The property has been well cared for, featuring a brand-new roof, new gutters, and ample off-street parking for all tenants. Each unit is occupied with reliable renters, providing instant cash flow and long-term potential. Conveniently located near local amenities and commuter routes, this property is a low-maintenance, high-return addition to any portfolio. Whether you’re expanding your investments or starting fresh, this Coventry multi is the one you’ve been waiting for!
For sale
Price cut: $75K (11/14)
$575,000
58 Read Ave, Coventry, RI 02816
5beds
1,730sqft
Est.:
Multi Family
Built in 1930
-- sqft lot
$567,400 Zestimate®
$332/sqft
$-- HOA
What's special
Ample off-street parkingNew guttersBrand-new roof
- 26 days |
- 536 |
- 23 |
Zillow last checked: 8 hours ago
Listing updated: December 05, 2025 at 06:21am
Listed by:
Kade Phillips 617-712-5582,
RE/MAX Legacy,
Chelsea McLaughlin 508-369-3979,
RE/MAX Legacy
Source: StateWide MLS RI,MLS#: 1400198
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Bathroom
- Features: Bath w Tub
Heating
- Oil, Baseboard
Cooling
- None
Appliances
- Included: Dryer, Washer
- Laundry: In Unit
Features
- Wall (Dry Wall), Plumbing (Copper)
- Flooring: Vinyl
- Basement: None
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 3,328
- Total interior livable area: 1,730 sqft
Video & virtual tour
Property
Parking
- Total spaces: 10
- Parking features: No Garage
Features
- Stories: 2
- Fencing: Fenced
Lot
- Size: 4,791.6 Square Feet
Details
- Parcel number: COVEM64L77
- Zoning: R-20
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Dry Wall, Vinyl Siding
- Foundation: Slab
Condition
- New construction: No
- Year built: 1930
Utilities & green energy
- Electric: Common Meter, Individual Meter
- Sewer: Septic Tank
- Water: Public
Community & HOA
Community
- Features: Highway Access, Near Shopping
HOA
- Has HOA: No
Location
- Region: Coventry
Financial & listing details
- Price per square foot: $332/sqft
- Tax assessed value: $254,300
- Annual tax amount: $4,028
- Date on market: 11/15/2025
- Inclusions: All measurements are approximate. Buyer/agent to do their own due diligence.
- Total actual rent: 4000
Estimated market value
$567,400
$539,000 - $596,000
$2,446/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 11/14/2025 | Price change | $575,000-11.5%$332/sqft |
Source: MLS PIN #73455073 Report a problem | ||
| 8/28/2025 | Listed for sale | $650,000+225%$376/sqft |
Source: Owner Report a problem | ||
| 1/7/2004 | Sold | $200,000+194.1%$116/sqft |
Source: Public Record Report a problem | ||
| 7/10/1997 | Sold | $68,000+33.3%$39/sqft |
Source: Public Record Report a problem | ||
| 6/2/1997 | Sold | $51,000$29/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,028 | $254,300 |
| 2024 | $4,028 +3.3% | $254,300 |
| 2023 | $3,898 -5.7% | $254,300 +20.4% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$3,561/mo
Principal & interest
$2761
Property taxes
$599
Home insurance
$201
Climate risks
Neighborhood: 02816
Nearby schools
GreatSchools rating
- 5/10Tiogue SchoolGrades: K-5Distance: 1.8 mi
- 7/10Alan Shawn Feinstein Middle School of CoventryGrades: 6-8Distance: 1.3 mi
- 3/10Coventry High SchoolGrades: 9-12Distance: 3 mi
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