109 Albert Ave #2CranstonRI02905
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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 Cranston at 109 Albert Ave #2, Cranston, RI, 02905 offers a 10.61% rental yield on a $329,000 purchase with $2,908/mo rent. Total monthly income registers $2,908/mo, and a $1,610/mo payment leaves $761/mo available for distribution. Annual cash flow reaches $9,128/yr on $109,064 to close, and return on cash invested stands at 28.28% in year one. Equity gained on principal adds $2,123/yr while 5% annual appreciation supports $90,897 over five years. Portfolio math shows five-year ROI at 148.17% and total cumulative return in cash at $161,601. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,908/mo property income against a $1,610/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1911
6,616 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02905, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,148 (100%) |
| Owner Occupied HU | 4,556 (44.9%) |
| Renter Occupied HU | 5,031 (49.6%) |
| Vacant Housing Units | 561 ( 5.5%) |
| Median Home Value | $384,429 |
| Average Home Value | $415,921 |
Housing Distribution
Address Breakdown
Residential
8,927
Single Family
8,066
Multi-Family
861
Businesses
857
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Listed by: Jess Powers • Real Broker, LLC
Mls Name: StateWide MLS RI
Mls ID: #1391343