40 Covell StProvidenceRI02909
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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 40 Covell St, Providence, RI, 02909 priced at $535,000 pairs $2,453/mo rent with after a $2,619/mo payment. Total monthly income equals $2,453/mo. Return on cash invested is 12.97% in year one, and rental yield stands at 5.5% on a $535,000 basis. Equity gained on principal adds $3,452/yr, and 5% annual appreciation accumulates to $147,811 by year five. Five-year ROI measures 66.08% and total cumulative return in cash reaches $116,308. For financing, Ziffy Mortgage’s DSCR program evaluates $2,453/mo property income against a $2,619/mo payment instead of your W2s, 1099s, or Tax returns.
Multi Family
Built in 1930
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02909, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,097 (100%) |
| Owner Occupied HU | 5,404 (29.9%) |
| Renter Occupied HU | 11,539 (63.8%) |
| Vacant Housing Units | 1,154 ( 6.4%) |
| Median Home Value | $326,092 |
| Average Home Value | $353,365 |
Housing Distribution
Address Breakdown
Residential
15,083
Single Family
11,844
Multi-Family
3,239
Businesses
1,034
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Listed by: Megan Hayden • HERE Realty
Mls Name: StateWide MLS RI
Mls ID: #1400581