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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Investment property for sale in Smithfield at 2 Magnum Ct APT 23, Smithfield, RI, 02917 with 5% annual appreciation on a $389,900 basis while $3,360/mo rent supports operations. Total monthly income totals $3,360/mo and a $1,908/mo payment preserves $515/mo for cash returns. Annual cash flow comes to $6,182/yr on $129,252 deployed, and return on cash invested reaches 24.69% in year one. Equity gained on principal adds $2,516/yr, and five-year appreciation sums $107,722 alongside rental yield of 10.34%. Five-year ROI measures 129.97% and total cumulative return in cash totals $167,989.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $3,360/mo property income versus a $1,908/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Townhouse
Built in 1990
N/A lot
$N/A/sqft
$300 monthly HOA
Neighborhood data shown for ZIP Code: 02917, Smithfield, RI area.
| 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 |
Residential
5,185
Single Family
4,814
Multi-Family
371
Businesses
731
Date | Event | Price |
|---|---|---|
| 2024-10-30 | Listed for sale | $389,900 |
| 2007-09-18 | Sold | $200,000 |
| 2005-06-07 | Sold | $227,500 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-02-19 | $3100.00 | 5.23% | $214,700 | N/A |
| 2023-02-19 | $2946.00 | 2.72% | $214,700 | N/A |
| 2022-02-19 | $2868.00 | 8.72% | $214,700 | 39.42% |
Listed by: Theo Papigiotis • Residential Properties Ltd.
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1371900
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.
