359 Willard AveProvidenceRI02907
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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 359 Willard Ave, Providence, RI, 02907 priced at $829,000 converts $3,876/mo rent into after a $4,058/mo obligation. Total monthly income equals $3,876/mo. Return on cash invested prints 13.3% in year one, and rental yield reads 5.61% against a $829,000 entry. Equity gained on principal adds $5,349/yr, while 5% annual appreciation compiles into $229,037 by year five. Five-year ROI reaches 67.82% and total cumulative return in cash sums $184,972. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,876/mo property income covering a $4,058/mo payment, not borrower’s personal income.
Multi Family
Built in 2025
3,950 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02907, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,661 (100%) |
| Owner Occupied HU | 2,961 (27.8%) |
| Renter Occupied HU | 7,081 (66.4%) |
| Vacant Housing Units | 619 ( 5.8%) |
| Median Home Value | $351,850 |
| Average Home Value | $403,428 |
Housing Distribution
Address Breakdown
Residential
8,964
Single Family
7,561
Multi-Family
1,403
Businesses
1,034
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Listed by: Linda Padula • Smith and Oak Real Estate Co.
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1379937
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.