35 Spicer StProvidenceRI02905
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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
Investment property for sale in Providence at 35 Spicer St, Providence, RI, 02905 uses $92,820 cash to close to unlock $4,196/yr annual cash flow and $350/mo monthly cash flow. Total monthly income runs $2,177/mo, and a $1,370/mo payment keeps the spread at $350/mo. Purchase price stands at $280,000, and rental yield measures 9.33% with $2,177/mo rent. Return on cash invested shows 24.43% in year one, and 5% annual appreciation builds toward $77,359 over five years. Five-year ROI reaches 127.53% and total cumulative return in cash records $118,377. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,177/mo property income covering a $1,370/mo payment rather than investor’s personal income.
Single Family
Built in 1960
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02905, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,148 (100%) |
| Owner Occupied HU | 4,556 (44.9%) |
| Renter Occupied HU | 5,031 (49.6%) |
| Vacant Housing Units | 561 ( 5.5%) |
| Median Home Value | $384,429 |
| Average Home Value | $415,921 |
Housing Distribution
Address Breakdown
Residential
8,927
Single Family
8,066
Multi-Family
861
Businesses
857
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Listed by: Cheri Wilcox • HomeSmart Professionals
Mls Name: StateWide MLS RI
Mls ID: #1398112