132 Hoffman Ave APT 116CranstonRI02920
INVESTMENT ANALYSIS
Investment Verdict
Solid Income132 Hoffman Ave APT 116, Cranston, RI, 02920 in Cranston is a solid income-producing rental, 8.93% gross yield, $1,854/mo rent, $229/mo net cash flow on a $249,000 buy. DSCR 1.66 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $68,794 and $2,293/yr in principal reduction project a total cumulative return of $109,521.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 5.8% |
| Monthly Cash Flow | $229 | $420 |
City averages based on Cranston market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,854 |
| Total Monthly Debt Service | $1,526 |
| DSCR Ratio | 1.21x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1970
1.18 Acres lot
$N/A/sqft
No 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
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
Condo
Built in 1970
1.18 Acres lot
$N/A/sqft
No 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Zachary Kheradi • Redfin Corporation
Mls Name: StateWide MLS RI
Mls ID: #1389514