1000 Providence Pl APT 339ProvidenceRI02903
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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 1000 Providence Pl APT 339, Providence, RI, 02903 uses $109,395 cash to close to unlock $7,404/yr annual cash flow and $617/mo monthly cash flow. Total monthly income runs $2,771/mo, and a $1,615/mo payment keeps the spread at $617/mo. Purchase price stands at $330,000, and rental yield measures 10.08% with $2,771/mo rent. Return on cash invested shows 26.68% in year one, and 5% annual appreciation builds toward $91,173 over five years. Five-year ROI reaches 139.56% and total cumulative return in cash records $152,675. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,771/mo property income covering a $1,615/mo payment rather than investor’s personal income.
Condo
Built in 2003
4.66 Acres 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: Ray Sirico • Domain Properties
Mls Name: StateWide MLS RI
Mls ID: #1401816