1 W Exchange St UNIT 2402ProvidenceRI02903
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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
Investment property for sale in Providence at 1 W Exchange St UNIT 2402, Providence, RI, 02903 offers a 5.49% rental yield on a $689,000 purchase with $3,155/mo rent. 68% in year one. Equity gained on principal adds $4,446/yr while 5% annual appreciation supports $190,358 over five years. Portfolio math shows five-year ROI at 34.59% and total cumulative return in cash at $78,414. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,155/mo property income against a $3,372/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2007
N/A lot
$N/A/sqft
$1,163 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: Shamila Ahmed • Shamila Ahmed, LLC
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1375089
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.