1196 Smith StProvidenceRI02908
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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 1196 Smith St, Providence, RI, 02908 offers a 10.38% rental yield on a $349,900 purchase with $3,028/mo rent. Total monthly income registers $3,028/mo, and a $1,713/mo payment leaves $744/mo available for distribution. Annual cash flow reaches $8,922/yr on $115,992 to close, and return on cash invested stands at 27.6% in year one. Equity gained on principal adds $2,258/yr while 5% annual appreciation supports $96,671 over five years. Portfolio math shows five-year ROI at 144.55% and total cumulative return in cash at $167,670. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,028/mo property income against a $1,713/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1930
3,920 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: Paul Harrison • RE/MAX Properties
Mls Name: StateWide MLS RI
Mls ID: #1398998