Home Buying

Five Rhode Island homes we love listed for under $400,000

'We are seeing skyrocketing price hikes beginning to calm down.'

Living area with white walls and hardwood floors. There is a black accent wall and picture windows.
Unit 501U at 404 Roosevelt Ave. in Central Falls, R.I., offers one bedroom and one full bathroom in 1,850 square feet of space. Epic Shoots Photography

By Vivi Smilgius

The median sales price for a single-family home in Rhode Island was $425,000 in April, the Rhode Island Association of Realtors reported Thursday. That’s a 1.2% year-over-year increase.

After seeing appreciation of 10% to 20% in the first four months of this year, the latest news shows the market is stabilizing, the Rhode Island association said in a press release.

“Though we don’t expect any significant drop in prices due to the low inventory available, we are seeing skyrocketing price hikes beginning to calm down,” said said Bryant Da Cruz, association president. “That’s good news for those shut out of homeownership due to affordability constraints. Mortgage rates have shown some decline recently, which should also help buyers get their foot in the door.”

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The news wasn’t great for condo buyers: The median sales price for units sold in April rose 6.3% to $340,000.

Still, home buyers are getting more bang for their buck in Rhode Island, especially as Boston’s cost of living soars. If this reality check calculator suggests Boston isn’t the best financial fit for you, it may be time to pay the Ocean State a visit.

Check out these five homes on the market for under $400,000:

2 Palfrey Place, Providence

Light blue colonial single family home.
. – Michael David
Kitchen with white
. – Michael David
Foyer/living area with beige walls, single-hung windows and hardwood floors.
. – Michael David

$299,900

3 bedrooms, 2 full bathrooms

1,220 square feet

🌳 0.06-acre lot

***

21 King Phillip Drive, North Kingstown

Gray house with red front door.
. – Margaret Cresta
Kitchen with single-hung window, dark blue Shaker-style cabinets and stainless steel appliances.
. – Margaret Cresta
Bathroom with combination shower-bathtub, light gray walls, wood paneled accent wall, and single vanity.
. – Margaret Cresta

$399,000

2 bedrooms, 1 full bathroom

1,257 square feet

🌳 0.15-acre lot

***

1 Lakeside St., Riverside

Yellow home with dark shutters.
. – GlassHouse Media Inc
Living room with white walls and hardwood floors. A staircase leads to the upper level.
. – GlassHouse Media Inc
Bathroom with white walls, single vanity, and light gray and pink tiling.
. – GlassHouse Media Inc

$325,000

2 bedrooms, 1 full bathroom

912 square feet

🌳 0.1-acre lot

***

404 Roosevelt Ave., Unit 501U, Central Falls

Kitchen with pendant lighting and stainless steel appliances. The backsplash is grey and white tiling and the flooring is hardwood.
. – Epic Shoots Photography
Living area with picture windows, hardwood floors, geometric light fixtures, and black accent wall.
. – Epic Shoots Photography
Full bathroom with combination shower-bathtub and yellow walls with grey and white accent wallpaper.
. – Epic Shoots Photography

$298,500

1 bedroom, 1 full bathroom

1,850 square feet

***

26 Appleton Ave., Pawtucket

Cream house with single-hung windows and white door.
. – Jaime Harrington
Living room with light gray walls, single-hung windows, hardwood floors, and fireplace.
. – Jaime Harrington
Bathroom with white walls and single vanity with sage green cabinetry.
. – Jaime Harrington

$350,000

4 bedrooms, 2 bathrooms

1,642 square feet

🌳 0.11-acre lot

Open houses Saturday, May 20, from noon to 1:30 p.m., and Sunday, May 21, from 11:30 a.m. to 1 p.m.

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