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$399,900 Mortgage Calculator
45 HIGHVIEW AV
Warren, RI / 02885
MLS# 1116637
Type: Single Family
Neighborhood: HIGHVIEW AVENUE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,621 sq. ft.
Lot Size: 10,045 sq. ft.
Listed by: Jennifer Mello The Mello Group, Inc.
Office: 508-640-0505
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$349,000 Mortgage Calculator
42 ANTHONY RD
Foster, RI / 02825
MLS# 1115960
Type: Single Family
Neighborhood: FOSTER
Beds: 5 Beds
Baths: 3 Full / 1 Half
Living Area: 5,678 sq. ft.
Lot Size: 609,840 sq. ft.
Listed by: Mary Iacono COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$749,000 Mortgage Calculator
2389 MAIN RD
Tiverton, RI / 02878
MLS# 1071015
Type: Single Family
Neighborhood: NANAQUAKET
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,920 sq. ft.
Lot Size: 143,748 sq. ft.
Listed by: Welchman Real Estate Group KELLER WILLIAMS RLTY NEWPORT
Office: 401-845-9200
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$419,000 Mortgage Calculator
322 ANGELL RD
Lincoln, RI / 02865
MLS# 1127546
Type: Single Family
Neighborhood: LIMEROCK
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,280 sq. ft.
Lot Size: 20,996 sq. ft.
Listed by: Ari Tanasio Tanasio Realty Advisors
Office: 401-305-7888
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$649,000 Mortgage Calculator
19 PHEASANT RUN
North Kingstown, RI / 02874
MLS# 1118585
Type: Single Family
Neighborhood: QUAIL HOLLOW
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 5,118 sq. ft.
Lot Size: 80,150 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$345,900 Mortgage Calculator
78 - LOT18 TEAKWOOD DRIVE WEST .
Coventry, RI / 02816
MLS# 1120988
Type: Single Family
Neighborhood: THE OAKS
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 1,782 sq. ft.
Lot Size: 25,630 sq. ft.
Listed by: Glenn Carpenter RE/MAX Professionals
Office: 401-884-6050
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$229,900 Mortgage Calculator
222 VAN BUREN ST
Warwick, RI / 02888
MLS# 1122784
Under Contract Status: Sale of Buyers Property Contingency
Type: Single Family
Neighborhood: LAKEWOOD/GASPEE
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,065 sq. ft.
Lot Size: 6,970 sq. ft.
Listed by: Arnold Baskin Keller Williams Realty Leading
Office: 401-333-4900
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$99,000 Mortgage Calculator
271 - Uniti GREAT ISLAND RD
Narragansett, RI / 02882
MLS# 1094256
Type: Single Family
Neighborhood: GALILEE
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 751 sq. ft.
Lot Size: 0 sq. ft.
Listed by: Stacy Corrigan Peace of Mind Property Managem
Office: 401-829-8323
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$336,900 Mortgage Calculator
2172 POST RD
South Kingstown, RI / 02879
MLS# 1095763
Type: Multi-Family
Neighborhood: PERRYVILLE
# of Units: 4
Total Beds: | Unit1(2), Unit2(1), Unit3(1), Unit4(3), Beds
Total Baths: 4 | Unit1(1), Unit2(1), Unit3(1), Unit4(1), Full
Building Area: 4,548 sq. ft.
Listed by: Neil ZARTARIAN GREATER R.I. PROPERTIES, LLC
Office: 401-295-4050
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$222,900 Mortgage Calculator
83 LOOKOUT AV
Johnston, RI / 02919
MLS# 1099317
Type: Single Family
Neighborhood: CENTRAL JOHNSTON
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,721 sq. ft.
Lot Size: 8,276 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
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Understanding Capital Gains

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations.

How to Calculate Gain

In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps:

1. Purchase price: _______________________

The purchase price of the home is the sale price, not the amount of money you actually contributed at closing.

2. Total adjustments: _______________________

To calculate this, add the following:

  • Cost of the purchase — including transfer fees, attorney fees, and inspections, but not points you paid on your mortgage.
  • Cost of sale — including inspections, attorney fees, real estate commission, and money you spent to fix up your home just prior to sale.
  • Cost of improvements — including room additions, deck, etc. Note here that improvements do not include repairing or replacing something already there, such as putting on a new roof or buying a new furnace.


3. Your home’s adjusted cost basis: _______________________

The total of your purchase price and adjustments is the adjusted cost basis of your home.

4. Your capital gain:  _______________________

Subtract the adjusted cost basis from the amount your home sells for to get your capital gain.

A Special Real Estate Exemption for Capital Gains

Since 1997, up to $250,000 in capital gains ($500,000 for a married couple) on the sale of a home is exempt from taxation if you meet the following criteria:

  • You have lived in the home as your principal residence for two out of the last five years.
  • You have not sold or exchanged another home during the two years preceding the sale.
  • You meet what the IRS calls “unforeseen circumstances,” such as job loss, divorce, or family medical emergency.

Reprinted from REALTOR® magazine (REALTOR.org/realtormag) with permission of the NATIONAL ASSOCIATION OF REALTORS®.