231 Union AveProvidenceRI02909
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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
Investment Highlights
Rental property for sale in Providence at 231 Union Ave, Providence, RI, 02909 offers $2,892/mo rent that, after a $2,442/mo payment. Total monthly income is $2,892/mo. Return on cash invested measures 17.26% in year one, and rental yield stands at 6.95% at a $499,000 entry. Equity gained on principal adds $3,220/yr while 5% annual appreciation compounds into $137,865 by year five. Five-year ROI records 89.07% and total cumulative return in cash reaches $147,342. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,892/mo property income versus a $2,442/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1930
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02909, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,097 (100%) |
| Owner Occupied HU | 5,404 (29.9%) |
| Renter Occupied HU | 11,539 (63.8%) |
| Vacant Housing Units | 1,154 ( 6.4%) |
| Median Home Value | $326,092 |
| Average Home Value | $353,365 |
Housing Distribution
Address Breakdown
Residential
15,083
Single Family
11,844
Multi-Family
3,239
Businesses
1,034
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Listed by: Ana Polanco • Real Broker, LLC
Mls Name: StateWide MLS RI
Mls ID: #1393261