179 Cole Ave #2ProvidenceRI02906
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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 179 Cole Ave #2, Providence, RI, 02906 offers a 8.62% rental yield on a $626,300 purchase with $4,500/mo rent. Total monthly income registers $4,500/mo, and a $3,065/mo payment leaves $399/mo available for distribution. Annual cash flow reaches $4,788/yr on $206,053 to close, and return on cash invested stands at 22.38% in year one. Equity gained on principal adds $4,041/yr while 5% annual appreciation supports $173,035 over five years. Portfolio math shows five-year ROI at 116.55% and total cumulative return in cash at $240,157. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,500/mo property income against a $3,065/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1900
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02906, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,287 (100%) |
| Owner Occupied HU | 5,790 (43.6%) |
| Renter Occupied HU | 6,560 (49.4%) |
| Vacant Housing Units | 937 ( 7.1%) |
| Median Home Value | $637,643 |
| Average Home Value | $693,669 |
Housing Distribution
Address Breakdown
Residential
11,798
Single Family
9,618
Multi-Family
2,180
Businesses
942
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Listed by: N/A • N/A
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