10 Iris Ln #B5-101North ProvidenceRI02911
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 10 Iris Ln #B5-101, North Providence, RI, 02911 in North Providence is narrow, $120/mo net on $2,351/mo rent after the $1,344/mo debt service, but the property operates at break-even-plus, not a loss. At $299,000 with a 9.43% yield, the long-run equity case via 5% appreciation ($82,608 over five years) and $2,754/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.75 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $122,808.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 5.8% |
| Monthly Cash Flow | $120 | $420 |
City averages based on North Providence market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,351 |
| Total Monthly Debt Service | $2,112 |
| DSCR Ratio | 1.11x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Townhouse
Built in 1994
N/A lot
$N/A/sqft
$279 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02911, North Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,476 (100%) |
| Owner Occupied HU | 4,316 (57.7%) |
| Renter Occupied HU | 2,909 (38.9%) |
| Vacant Housing Units | 251 ( 3.4%) |
| Median Home Value | $369,934 |
| Average Home Value | $391,043 |
Housing Distribution
Address Breakdown
Residential
6,942
Single Family
5,850
Multi-Family
1,092
Businesses
364
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Townhouse
Built in 1994
N/A lot
$N/A/sqft
$279 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02911, North Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,476 (100%) |
| Owner Occupied HU | 4,316 (57.7%) |
| Renter Occupied HU | 2,909 (38.9%) |
| Vacant Housing Units | 251 ( 3.4%) |
| Median Home Value | $369,934 |
| Average Home Value | $391,043 |
Housing Distribution
Address Breakdown
Residential
6,942
Single Family
5,850
Multi-Family
1,092
Businesses
364
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices