242 Wayland Ave #2ProvidenceRI02906
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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 242 Wayland Ave #2, Providence, RI, 02906 generates $2,239/mo in rent, after a $1,713/mo payment. Total monthly income is $2,239/mo. Return on cash invested sits at 19.44% in year one, and rental yield is 7.68% on a $349,900 entry. Equity gained on principal adds $2,258/yr, while 5% annual appreciation builds toward $96,671 over five years. Five-year ROI reaches 100.76% and total cumulative return in cash sums $116,874. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,239/mo property income rather than buyer’s personal income.
Condo
Built in 1900
N/A 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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Listed by: Stephen Gaskin • Residential Properties Ltd.
Mls Name: StateWide MLS RI
Mls ID: #1401143