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$209,900 Mortgage Calculator
4 SEARLE AV
Cranston, RI / 02920
MLS# 1072410
Type: Single Family
Neighborhood: OAKLAWN
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,779 sq. ft.
Lot Size: 5,966 sq. ft.
Listed by: Dan Saffer Westchester Properties
Office: 401-954-4811
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$339,900 Mortgage Calculator
49 KEATS DR
North Kingstown, RI / 02852
MLS# 1078351
Type: Single Family
Neighborhood: NORTHBRIAR/QUIDNESSETT
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 2,690 sq. ft.
Lot Size: 30,640 sq. ft.
Listed by: Allen Gammons PRUDENTIAL GAMMONS REALTY
Office: 401-886-6100
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$149,900 Mortgage Calculator
36 LINDY AV
Warwick, RI / 02889
MLS# 1081133
Type: Single Family
Neighborhood: CHURCH AVE / HOXIE
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,084 sq. ft.
Lot Size: 7,500 sq. ft.
Listed by: Jack Silberman Adaptive Real Estate
Office: 401-578-4648
Photos
$325,000 Mortgage Calculator
78 WARNER AV
Portsmouth, RI / 02872
MLS# 1065159
Type: Single Family
Neighborhood: PRUDENCE ISLAND
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,613 sq. ft.
Lot Size: 7,500 sq. ft.
Listed by: Elizabeth Rene William Raveis Chapman Enstone
Office: 401-396-9849
Photos
$149,000 Mortgage Calculator
8 CORA ST
North Providence, RI / 02911
MLS# 1076142
Type: Single Family
Neighborhood: WOODHAVEN
Beds: 3 Beds
Baths: 2 Full / 0 Half
Living Area: 1,428 sq. ft.
Lot Size: 3,200 sq. ft.
Listed by: Kathy Souza RE/MAX Preferred
Office: 401-353-2200
Photos
$229,000 Mortgage Calculator
4 DRIFTWOOD DR
Coventry, RI / 02816
MLS# 1078765
Type: Single Family
Neighborhood: HIGHWOOD ESTATES
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,960 sq. ft.
Lot Size: 20,473 sq. ft.
Listed by: Laurie Audet Keller Williams Realty
Office: 401-785-1700
Photos
$229,999 Mortgage Calculator
1156 SCITUATE AV
Cranston, RI / 02921
MLS# 1082559
Type: Single Family
Neighborhood: WESTERN
Beds: 3 Beds
Baths: 1 Full / 0 Half
Living Area: 1,480 sq. ft.
Lot Size: 22,168 sq. ft.
Listed by: Brian Dupont Real Estate Masters, Inc.
Office: 401-738-1130
Photos
$169,900 Mortgage Calculator
76 SEVENTH ST
East Providence, RI / 02914
MLS# 1077231
Type: Single Family
Neighborhood: PIERCE FIELD
Beds: 3 Beds
Baths: 1 Full / 1 Half
Living Area: 1,262 sq. ft.
Lot Size: 4,009 sq. ft.
Listed by: Harry Smith Westchester Properties
Office: 401-954-4811
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$354,500 Mortgage Calculator
36 WILLIAMS CROSSING RD
Coventry, RI / 02827
MLS# 1068386 BACK ON MKT
Type: Single Family
Neighborhood: GREENE
Beds: 3 Beds
Baths: 3 Full / 0 Half
Living Area: 3,218 sq. ft.
Lot Size: 146,362 sq. ft.
Listed by: Raquel Storti Keller Williams Realty
Office: 401-785-1700
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$1,129,000 Mortgage Calculator
30 LENIHAN LANE
East Greenwich, RI / 02818
MLS# 1074958
Type: Single Family
Neighborhood: THE WOODS
Beds: 4 Beds
Baths: 5 Full / 1 Half
Living Area: 7,266 sq. ft.
Lot Size: 44,694 sq. ft.
Listed by: Janis CAPPELLO COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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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®.

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