161 Ocean AveCranstonRI02905
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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
Rental property for sale in Cranston at 161 Ocean Ave, Cranston, RI, 02905 priced at $600,000 converts $4,680/mo rent into $763/mo cash flow after a $2,937/mo obligation. Total monthly income equals $4,680/mo, and annual cash flow totals $9,156/yr on $197,400 invested. Return on cash invested prints 24.7% in year one, and rental yield reads 9.36% against a $600,000 entry. Equity gained on principal adds $3,872/yr, while 5% annual appreciation compiles into $165,769 by year five. Five-year ROI reaches 128.93% and total cumulative return in cash sums $254,508. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,680/mo property income covering a $2,937/mo payment, not borrower’s personal income.
Single Family
Built in 1904
6,616 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02905, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,148 (100%) |
| Owner Occupied HU | 4,556 (44.9%) |
| Renter Occupied HU | 5,031 (49.6%) |
| Vacant Housing Units | 561 ( 5.5%) |
| Median Home Value | $384,429 |
| Average Home Value | $415,921 |
Housing Distribution
Address Breakdown
Residential
8,927
Single Family
8,066
Multi-Family
861
Businesses
857
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Listed by: Holly Regoli • HomeSmart Professionals
Mls Name: StateWide MLS RI
Mls ID: #1390152