275 Grotto Ave APT 15PawtucketRI02860
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 275 Grotto Ave APT 15, Pawtucket, RI, 02860 in Pawtucket speaks for itself: 11.36% gross on a $301,400 price, generating $2,053/mo in rent and $507/mo in net income after the $1,355/mo debt service. DSCR 1.52, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $6,078 stacks alongside $83,271 in projected five-year appreciation and $2,776/yr in principal reduction. Projected total cumulative return: $97,760.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.4% | 6.5% |
| Monthly Cash Flow | $507 | $1,200 |
City averages based on Pawtucket market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,053 |
| Total Monthly Debt Service | $2,223 |
| DSCR Ratio | 0.92x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1987
N/A lot
$N/A/sqft
$375 monthly 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 1987
N/A lot
$N/A/sqft
$375 monthly 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: Andrea Robertson • Paul Vanasse and Associates RE
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1385925
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025 State-Wide MLS, Inc. All rights reserved.