341 Academy AveProvidenceRI02908
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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 341 Academy Ave, Providence, RI, 02908 generates $1,989/mo in rent, after a $3,279/mo payment. Total monthly income is $1,989/mo. Return on cash invested sits at 7.08% in year one, and rental yield is 3.56% on a $669,900 entry. Equity gained on principal adds $4,323/yr, while 5% annual appreciation builds toward $185,081 over five years. Five-year ROI reaches 34.45% and total cumulative return in cash sums $75,933. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,989/mo property income rather than buyer’s personal income.
Multi Family
Built in 1920
5,645 sqft lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
13,721
Single Family
12,304
Multi-Family
1,417
Businesses
743
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Listed by: The Realpro Group • REALPRO by The Water
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1386700
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.