222 2nd St EProvidenceRI02906
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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 Providence at 222 2nd St E, Providence, RI, 02906 offers $3,397/mo rent that, after a $1,835/mo payment, leaves $950/mo cash flow. Total monthly income is $3,397/mo, and annual cash flow is $11,396/yr on $124,279 cash. Return on cash invested measures 29.08% in year one, and rental yield stands at 10.87% at a $374,900 entry. Equity gained on principal adds $2,419/yr while 5% annual appreciation compounds into $103,578 by year five. Five-year ROI records 152.46% and total cumulative return in cash reaches $189,475. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,397/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 1920
4,843 sqft 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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Nearby investment properties with comparable prices
Listed by: Robert Rinn • RE/MAX Professionals
Mls Name: StateWide MLS RI
Mls ID: #1403134