228 School St #8PawtucketRI02860
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: 228 School St #8, Pawtucket, RI, 02860 in Pawtucket, $309,000, 8.39% gross yield, $143/mo net income. Consider it a market-entry position, the $2,160/mo rent covers the $1,389/mo payment with a margin, and 5%/yr appreciation is projected to add $85,371 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.56) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $126,896.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 6.5% |
| Monthly Cash Flow | $143 | $1,200 |
City averages based on Pawtucket market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,160 |
| Total Monthly Debt Service | $1,894 |
| DSCR Ratio | 1.14x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Townhouse
Built in 1972
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02860, Pawtucket, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,375 (100%) |
| Owner Occupied HU | 7,147 (31.9%) |
| Renter Occupied HU | 13,685 (61.2%) |
| Vacant Housing Units | 1,543 ( 6.9%) |
| Median Home Value | $367,412 |
| Average Home Value | $395,769 |
Housing Distribution
Address Breakdown
Residential
19,251
Single Family
14,536
Multi-Family
4,715
Businesses
1,510
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
Townhouse
Built in 1972
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02860, Pawtucket, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,375 (100%) |
| Owner Occupied HU | 7,147 (31.9%) |
| Renter Occupied HU | 13,685 (61.2%) |
| Vacant Housing Units | 1,543 ( 6.9%) |
| Median Home Value | $367,412 |
| Average Home Value | $395,769 |
Housing Distribution
Address Breakdown
Residential
19,251
Single Family
14,536
Multi-Family
4,715
Businesses
1,510
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jack Galvao • Realty Quest Group Inc
Mls Name: StateWide MLS RI
Mls ID: #1391026