132 Hoffman Ave APT 116, Cranston, RI, 02920 | $228/mo Cash Flow

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132 Hoffman Ave APT 116, Cranston, RI, 02920 | $228/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Cranston at 132 Hoffman Ave APT 116, Cranston, RI, 02920 uses $82,544 cash to close to unlock $2,740/yr annual cash flow and $228/mo monthly cash flow. Total monthly income runs $1,854/mo, and a $1,219/mo payment keeps the spread at $228/mo. Purchase price stands at $249,000, and rental yield measures 8.93% with $1,854/mo rent. Return on cash invested shows 23.23% in year one, and 5% annual appreciation builds toward $68,794 over five years. Five-year ROI reaches 121.14% and total cumulative return in cash records $99,992. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,854/mo property income covering a $1,219/mo payment rather than investor’s personal income.

Condo

Built in 1970

1.18 Acres lot

$N/A/sqft

No HOA

More details about the property

Don't miss this beautifully maintained first-floor corner unit condo in a desirable yet private community in Cranston! This bright and spacious unit features a modern kitchen with stainless steel appliances, a newer bathroom with tiled flooring, and convenient in-unit laundry with a stackable washer/dryer. The open-concept living and dining area offers great flow and comfort, while the generously sized bedroom provides plenty of space to relax. Enjoy the ease of assigned parking and a low condo fee that includes gas for heat, hot water, stove, and dryer, a rare find! Located just minutes from Garden City, shops, dining, and major routes, this home offers the perfect blend of convenience and comfort in a tucked-away setting. Whether you're looking to downsize, simplify, or find your first home, this move-in-ready unit checks all the boxes!

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