15 Higgins St APT 106SmithfieldRI02917
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeAt 1.67, 15 Higgins St APT 106, Smithfield, RI, 02917 in Smithfield sits at the top of Ziffy Mortgage's DSCR coverage band, a significant advantage for non-U.S. buyers closing without domestic income documentation. Rental yield 9%. The 9% yield is backed by 5% annual appreciation projecting $66,308 in value gain, plus $2,210/yr in principal reduction. Total projected cumulative return: $88,686.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 5.8% |
| Monthly Cash Flow | $(62) | $1,850 |
City averages based on Smithfield market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,800 |
| Total Monthly Debt Service | $1,766 |
| DSCR Ratio | 1.02x |
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 1985
N/A lot
$N/A/sqft
$295 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02917, Smithfield, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,210 (100%) |
| Owner Occupied HU | 4,016 (77.1%) |
| Renter Occupied HU | 1,003 (19.3%) |
| Vacant Housing Units | 191 ( 3.7%) |
| Median Home Value | $478,603 |
| Average Home Value | $532,500 |
Housing Distribution
Address Breakdown
Residential
5,185
Single Family
4,814
Multi-Family
371
Businesses
731
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 1985
N/A lot
$N/A/sqft
$295 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02917, Smithfield, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,210 (100%) |
| Owner Occupied HU | 4,016 (77.1%) |
| Renter Occupied HU | 1,003 (19.3%) |
| Vacant Housing Units | 191 ( 3.7%) |
| Median Home Value | $478,603 |
| Average Home Value | $532,500 |
Housing Distribution
Address Breakdown
Residential
5,185
Single Family
4,814
Multi-Family
371
Businesses
731
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Deb Hackett • RE/MAX Town & Country
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1392138
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 2025 State-Wide MLS, Inc. All rights reserved.