231 Douglas Ave #10ProvidenceRI02908
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid, durable, and financeable, 231 Douglas Ave #10, Providence, RI, 02908 in Providence earns a 10.84% gross yield at $289,000. Rent of $2,610/mo nets $360/mo after the $1,370/mo mortgage. The 1.91 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $79,845 and $2,423/yr in equity accumulation project a total cumulative return of $129,346.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.8% | 5.8% |
| Monthly Cash Flow | $360 | $850 |
City averages based on Providence market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,610 |
| Total Monthly Debt Service | $2,205 |
| DSCR Ratio | 1.18x |
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 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02908, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,787 (100%) |
| Owner Occupied HU | 6,158 (39.0%) |
| Renter Occupied HU | 8,471 (53.7%) |
| Vacant Housing Units | 1,158 ( 7.3%) |
| Median Home Value | $357,497 |
| Average Home Value | $392,124 |
Housing Distribution
Address Breakdown
Residential
13,721
Single Family
12,304
Multi-Family
1,417
Businesses
743
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Gabe Francis • Lenox Realty Group
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1426019
