116 Mount Pleasant AveProvidenceRI02908
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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 116 Mount Pleasant Ave, Providence, RI, 02908 priced at $625,000 converts $5,220/mo rent into $1,140/mo cash flow after a $3,059/mo obligation. Total monthly income equals $5,220/mo, and annual cash flow totals $13,682/yr on $205,625 invested. Return on cash invested prints 26.71% in year one, and rental yield reads 10.02% against a $625,000 entry. Equity gained on principal adds $4,033/yr, while 5% annual appreciation compiles into $172,676 by year five. Five-year ROI reaches 139.77% and total cumulative return in cash sums $287,401. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,220/mo property income covering a $3,059/mo payment, not borrower’s personal income.
Multi Family
Built in 1913
3,001 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02908, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,787 (100%) |
| Owner Occupied HU | 6,158 (39.0%) |
| Renter Occupied HU | 8,471 (53.7%) |
| Vacant Housing Units | 1,158 ( 7.3%) |
| Median Home Value | $357,497 |
| Average Home Value | $392,124 |
Housing Distribution
Address Breakdown
Residential
13,721
Single Family
12,304
Multi-Family
1,417
Businesses
743
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Listed by: Claudia Ramirez • Innovations Realty
Mls Name: StateWide MLS RI
Mls ID: #1403162