2 Gansett AveCranstonRI02920
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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 2 Gansett Ave, Cranston, RI, 02920 priced at $495,000 converts $2,822/mo rent into after a $2,423/mo obligation. Total monthly income equals $2,822/mo. Return on cash invested prints 16.91% in year one, and rental yield reads 6.84% against a $495,000 entry. Equity gained on principal adds $3,194/yr, while 5% annual appreciation compiles into $136,759 by year five. Five-year ROI reaches 87.23% and total cumulative return in cash sums $143,146. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,822/mo property income covering a $2,423/mo payment, not borrower’s personal income.
Multi Family
Built in 1920
1,454 sqft lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
15,140
Single Family
13,484
Multi-Family
1,656
Businesses
1,690
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Listed by: Ronald Deleon • RE/MAX New Horizons
Mls Name: StateWide MLS RI
Mls ID: #1400662