214 Lake DrGlocesterRI02814
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Glocester at 214 Lake Dr, Glocester, RI, 02814 offers $2,914/mo rent that, after a $1,835/mo payment, leaves $467/mo cash flow. Total monthly income is $2,914/mo, and annual cash flow is $5,598/yr on $124,313 cash. Return on cash invested measures 24.41% in year one, and rental yield stands at 9.32% at a $375,000 entry. Equity gained on principal adds $2,420/yr while 5% annual appreciation compounds into $103,606 by year five. Five-year ROI records 127.45% and total cumulative return in cash reaches $158,439. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,914/mo property income versus a $1,835/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1960
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02814, Chepachet, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,341 (100%) |
| Owner Occupied HU | 2,698 (80.8%) |
| Renter Occupied HU | 376 (11.3%) |
| Vacant Housing Units | 267 ( 8.0%) |
| Median Home Value | $468,016 |
| Average Home Value | $500,838 |
Housing Distribution
Address Breakdown
Residential
2,889
Single Family
2,881
Multi-Family
8
Businesses
163
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kamil Sarji • Gold Door Realty
Mls Name: StateWide MLS RI
Mls ID: #1392125