1 W Exchange St UNIT 1602ProvidenceRI02903
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Providence at 1 W Exchange St UNIT 1602, Providence, RI, 02903 generates $3,325/mo in rent, after a $2,313/mo payment. Total monthly income is $3,325/mo. Return on cash invested sits at 12.53% in year one, and rental yield is 8.44% on a $472,500 entry. Equity gained on principal adds $3,049/yr, while 5% annual appreciation builds toward $130,543 over five years. Five-year ROI reaches 67.09% and total cumulative return in cash sums $105,086. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,325/mo property income rather than buyer’s personal income.
Condo
Built in 2007
N/A lot
$N/A/sqft
$1,095 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02903, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,210 (100%) |
| Owner Occupied HU | 849 (11.8%) |
| Renter Occupied HU | 5,578 (77.4%) |
| Vacant Housing Units | 783 (10.9%) |
| Median Home Value | $506,192 |
| Average Home Value | $509,519 |
Housing Distribution
Address Breakdown
Residential
6,543
Single Family
2,417
Multi-Family
4,126
Businesses
2,221
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Listed by: Trisha Hebert • Real Broker, LLC
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1390306
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025 State-Wide MLS, Inc. All rights reserved.