1000 Providence Pl APT 221ProvidenceRI02903
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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 1000 Providence Pl APT 221, Providence, RI, 02903 generates $2,382/mo in rent and, after a $1,463/mo payment, leaves $431/mo in cash flow. Total monthly income is $2,382/mo, and annual cash flow is $5,168/yr on $99,119 invested. Return on cash invested sits at 25.12% in year one, and rental yield is 9.56% on a $299,000 entry. Equity gained on principal adds $1,929/yr, while 5% annual appreciation builds toward $82,608 over five years. Five-year ROI reaches 131.25% and total cumulative return in cash sums $130,090. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,382/mo property income rather than buyer’s personal income.
Condo
Built in 2003
N/A lot
$N/A/sqft
No 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: Robin Mott • Venture
Mls Name: StateWide MLS RI
Mls ID: #1399338