113 Alger AveProvidenceRI02905
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
Investment Highlights
Rental property for sale in Providence at 113 Alger Ave, Providence, RI, 02905 offers $4,108/mo rent that, after a $2,398/mo payment, leaves $910/mo cash flow. Total monthly income is $4,108/mo, and annual cash flow is $10,918/yr on $162,402 cash. Return on cash invested measures 26.63% in year one, and rental yield stands at 10.06% at a $489,900 entry. Equity gained on principal adds $3,161/yr while 5% annual appreciation compounds into $135,350 by year five. Five-year ROI records 139.34% and total cumulative return in cash reaches $226,289. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $4,108/mo property income versus a $2,398/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1930
7,501 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: Peter Brown • eXp Realty
Mls Name: StateWide MLS RI
Mls ID: #1389727