231 Douglas Ave #R05, Providence, RI, 02908 | $705/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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231 Douglas Ave #R05, Providence, RI, 02908 | $705/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Providence at 231 Douglas Ave #R05, Providence, RI, 02908 uses $99,417 cash to close to unlock $8,462/yr annual cash flow and $705/mo monthly cash flow. Total monthly income runs $2,663/mo, and a $1,468/mo payment keeps the spread at $705/mo. Purchase price stands at $299,900, and rental yield measures 10.66% with $2,663/mo rent. Return on cash invested shows 28.42% in year one, and 5% annual appreciation builds toward $82,857 over five years. Five-year ROI reaches 148.98% and total cumulative return in cash records $148,108. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,663/mo property income covering a $1,468/mo payment rather than investor’s personal income.

Condo

Built in 2007

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome to your new home! This spacious 3-bedroom condo, located in a newer building constructed in 2007, boasts a modern layout that is both inviting and functional. The freshly painted interiors feature beautiful hardwood floors that flow seamlessly throughout, creating a warm and welcoming atmosphere. The open-concept kitchen and living area provide an ideal space for entertaining family and friends. The bright and airy environment is enhanced by large windows that fill the space with natural light, making it a perfect sanctuary to unwind after a long day. Situated just minutes from downtown Providence, this condo offers unmatched convenience with easy access to shops, restaurants, and entertainment. Whether youre commuting to work or enjoying a weekend out, everything you need is within reach. Dont miss out on the opportunity to call this beautiful condo your home. Schedule a viewing today!

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