2 Simpson StNorth ProvidenceRI02911
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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 North Providence at 2 Simpson St, North Providence, RI, 02911 priced at $395,000 converts $2,590/mo rent into $12/mo cash flow after a $1,933/mo obligation. Total monthly income equals $2,590/mo, and annual cash flow totals $142/yr on $130,943 invested. Return on cash invested prints 20.02% in year one, and rental yield reads 7.87% against a $395,000 entry. Equity gained on principal adds $2,549/yr, while 5% annual appreciation compiles into $109,131 by year five. Five-year ROI reaches 103.86% and total cumulative return in cash sums $136,002. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,590/mo property income covering a $1,933/mo payment, not borrower’s personal income.
Single Family
Built in 1955
5,349 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02911, North Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,476 (100%) |
| Owner Occupied HU | 4,316 (57.7%) |
| Renter Occupied HU | 2,909 (38.9%) |
| Vacant Housing Units | 251 ( 3.4%) |
| Median Home Value | $369,934 |
| Average Home Value | $391,043 |
Housing Distribution
Address Breakdown
Residential
6,942
Single Family
5,850
Multi-Family
1,092
Businesses
364
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