38 Transit St APT 3ProvidenceRI02906
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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 38 Transit St APT 3, Providence, RI, 02906 generates $2,740/mo in rent, after a $3,573/mo payment. Total monthly income is $2,740/mo. Return on cash invested sits at 9.94% in year one, and rental yield is 4.5% on a $730,000 entry. Equity gained on principal adds $4,711/yr, while 5% annual appreciation builds toward $201,686 over five years. Five-year ROI reaches 49.8% and total cumulative return in cash sums $119,606. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,740/mo property income rather than buyer’s personal income.
Condo
Built in 1900
2,879 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02906, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,287 (100%) |
| Owner Occupied HU | 5,790 (43.6%) |
| Renter Occupied HU | 6,560 (49.4%) |
| Vacant Housing Units | 937 ( 7.1%) |
| Median Home Value | $637,643 |
| Average Home Value | $693,669 |
Housing Distribution
Address Breakdown
Residential
11,798
Single Family
9,618
Multi-Family
2,180
Businesses
942
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Listed by: The Mackinney Gold Group • Mott & Chace Sotheby's Intl.
Mls Name: StateWide MLS RI
Mls ID: #1404030