132 Hoffman Ave APT 102CranstonRI02920
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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 132 Hoffman Ave APT 102, Cranston, RI, 02920 offers a 10.53% rental yield on a $199,000 purchase with $1,746/mo rent. Total monthly income registers $1,746/mo, and a $974/mo payment leaves $215/mo available for distribution. Annual cash flow reaches $2,580/yr on $65,969 to close, and return on cash invested stands at 23.82% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 125.78% and total cumulative return in cash at $82,974. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,746/mo property income against a $974/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1970
N/A lot
$N/A/sqft
$232 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02920, Cranston, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,731 (100%) |
| Owner Occupied HU | 9,407 (59.8%) |
| Renter Occupied HU | 5,650 (35.9%) |
| Vacant Housing Units | 674 ( 4.3%) |
| Median Home Value | $405,632 |
| Average Home Value | $437,567 |
Housing Distribution
Address Breakdown
Residential
15,140
Single Family
13,484
Multi-Family
1,656
Businesses
1,690
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Listed by: Donna Sczerbinski • Land Realty
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1367428
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2024 State-Wide MLS, Inc. All rights reserved.