166-168 Narragansett StProvidenceRI02905
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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 Providence at 166-168 Narragansett St, Providence, RI, 02905 listed at $589,000 pairs $4,680/mo rent with a $2,883/mo payment to leave $835/mo cash flow. Total monthly income runs $4,680/mo, and annual cash flow reaches $10,020/yr on $193,781 cash to close. Return on cash invested measures 25.23% in year one, and rental yield registers 9.53% at a $589,000 basis. Equity gained on principal adds $3,801/yr, and annual property appreciation at 5% supports $162,730 by year five. Five-year ROI tracks 131.78% and total cumulative return in cash totals $255,374. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $4,680/mo property income relative to a $2,883/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Multi Family
Built in 1922
4,255 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: Kristen Regine • RI Real Estate Services
Mls Name: StateWide MLS RI
Mls ID: #1403023