283 Benefit St APT DProvidenceRI02903
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderReliable and efficiently structured, 283 Benefit St APT D, Providence, RI, 02903 in Providence is a conservative rental investment at $689,000. Rental yield 7.18%. A 1.33 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $190,358; $6,346/yr in principal paydown supplements. Total projected return: $238,238.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.2% | 5.8% |
| Monthly Cash Flow | $(373) | $850 |
City averages based on Providence market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,124 |
| Total Monthly Debt Service | $4,224 |
| DSCR Ratio | 0.98x |
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 1854
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02903, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,210 (100%) |
| Owner Occupied HU | 849 (11.8%) |
| Renter Occupied HU | 5,578 (77.4%) |
| Vacant Housing Units | 783 (10.9%) |
| Median Home Value | $506,192 |
| Average Home Value | $509,519 |
Housing Distribution
Address Breakdown
Residential
6,543
Single Family
2,417
Multi-Family
4,126
Businesses
2,221
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 1854
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02903, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,210 (100%) |
| Owner Occupied HU | 849 (11.8%) |
| Renter Occupied HU | 5,578 (77.4%) |
| Vacant Housing Units | 783 (10.9%) |
| Median Home Value | $506,192 |
| Average Home Value | $509,519 |
Housing Distribution
Address Breakdown
Residential
6,543
Single Family
2,417
Multi-Family
4,126
Businesses
2,221
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The WP Group • Smith and Oak Real Estate Co.
Mls Name: StateWide MLS RI
Mls ID: #1392859