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$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
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$424,900 Mortgage Calculator
891 TOWER HILL RD
North Kingstown, RI / 02852
MLS# 1071572
Type: Commercial
Neighborhood:
# of Buildings: 1
Total Sq Ft: 1,350 sq. ft.
Building Type: Commercial
Listed by: Debbie Grimaldi RE/MAX 1st Choice
Office: 401-943-6111
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$279,000 Mortgage Calculator
60 SOUTH BAY DR
Narragansett, RI / 02882
MLS# 1061486
Type: Condo
Complex Name: Northgate
Beds: 2 Beds
Baths: 1 Full / 1 Half
Living Area: 1,762 sq. ft.
Style Type: Town House
Listed by: Betty Barrett Bay Realty, LTD.
Office: 401-789-3003
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$529,000 Mortgage Calculator
0 BRICK POND DR
Barrington, RI / 02806
MLS# 1077521
Type: Single Family
Neighborhood: NAYATT -CORNER BRICK POND & MIDDLE
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,012 sq. ft.
Lot Size: 12,000 sq. ft.
Listed by: Nancy Weaver Residential Properties, Ltd.
Office: 401-245-9600
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$336,500 Mortgage Calculator
170 PROVIDENCE PIKE
North Smithfield, RI / 02896
MLS# 1067888
Type: Condo
Complex Name: Laurelwood
Beds: 2 Beds
Baths: 2 Full / 0 Half
Living Area: 1,682 sq. ft.
Style Type: One Level, Registered Adult Community, Green Construction
Listed by: Michelle Keach RE/MAX 1st Choice
Office: 401-943-6111
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$459,900 Mortgage Calculator
10 EASTWARD DR
Lincoln, RI / 02865
MLS# 1075164
Type: Single Family
Neighborhood: LIMEROCK
Beds: 4 Beds
Baths: 3 Full / 1 Half
Living Area: 4,970 sq. ft.
Lot Size: 87,425 sq. ft.
Listed by: Joan Dion Reliable Realty Group LLC
Office: 401-723-3300
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$347,900 Mortgage Calculator
17 LAWNDALE DR
Warwick, RI / 02818
MLS# 1072386
Type: Single Family
Neighborhood: POTOWOMUT
Beds: 3 Beds
Baths: 2 Full / 1 Half
Living Area: 2,168 sq. ft.
Lot Size: 12,500 sq. ft.
Listed by: Tony Verdi COLDWELL BANKER RESIDENTIAL BR
Office: 401-884-8050
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$209,000 Mortgage Calculator
5 INDIAN TRL
Narragansett, RI / 02874
MLS# 1065205
Type: Condo
Complex Name: INDIAN TRAIL CONDOS
Beds: 2 Beds
Baths: 1 Full / 0 Half
Living Area: 1,182 sq. ft.
Style Type: One Level
Listed by: Donna Sabitoni Fieldstone Properties, Inc.
Office: 401-295-0300
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$259,000 Mortgage Calculator
42 HIGH ST
Bristol, RI / 02809
MLS# 1058216
Type: Condo
Complex Name: CODMAN PLACE
Beds: 1 Beds
Baths: 1 Full / 1 Half
Living Area: 1,080 sq. ft.
Style Type: Town House
Listed by: Debra Jobin RE/MAX River's Edge - Bristol
Office: 401-254-1776
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$459,000 Mortgage Calculator
142 BATES TRL
West Greenwich, RI / 02817
MLS# 1068622
Type: Single Family
Neighborhood: HOPKINS HILL
Beds: 4 Beds
Baths: 2 Full / 1 Half
Living Area: 2,468 sq. ft.
Lot Size: 123,274 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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