31 Elmcrest Ave, Providence, RI, 02908 | $350/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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31 Elmcrest Ave, Providence, RI, 02908 | $350/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 31 Elmcrest Ave, Providence, RI, 02908 uses $197,367 cash to close to unlock $4,202/yr annual cash flow and $350/mo monthly cash flow. Total monthly income runs $4,266/mo, and a $2,936/mo payment keeps the spread at $350/mo. Purchase price stands at $599,900, and rental yield measures 8.53% with $4,266/mo rent. Return on cash invested shows 22.19% in year one, and 5% annual appreciation builds toward $165,741 over five years. Five-year ROI reaches 115.5% and total cumulative return in cash records $227,956. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,266/mo property income covering a $2,936/mo payment rather than investor’s personal income.

Single Family

Built in 1929

5,898 sqft lot

$N/A/sqft

No HOA

More details about the property

Gracing a tree-lined street this beautiful 1929 Colonial offers an original charming front entrance foyer ,when entering divides the formal living with a cozy brick fireplace and dining area with a sitting room , ideal for gatherings and entertaining . Also open to the dining area is the kitchen offering character and modern appliances.The first floor also offers a convenient guest bedroom and a lavette.The second floor offers 3 bedrooms one being a sunfilled primary suite with 3 closets ,2 are walk-in which is a rear find in a home of this era. The two others are generous in size . There is also updated bathroom that offers a jacuzzi for relaxing after a long day. On the third level is also a walkup attic for additional space on the 3rd level . The home offers the original wood doors ,hardwoods and tile throughout The lower level offers a vintage home office with a built in desk and cabinetry ,along with a laundry area ,utilities and plenty of storage . The oversized two car garage is ideal for cars and lawn /garden tools with a driveway that parks at least 5 cars for a large family or guest .

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