400 New River Rd APT 603LincolnRI02838
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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 Lincoln at 400 New River Rd APT 603, Lincoln, RI, 02838 generates $2,458/mo in rent and, after a $1,350/mo payment, leaves $657/mo in cash flow. Total monthly income is $2,458/mo, and annual cash flow is $7,888/yr on $91,461 invested. Return on cash invested sits at 28.53% in year one, and rental yield is 10.69% on a $275,900 entry. Equity gained on principal adds $1,780/yr, while 5% annual appreciation builds toward $76,226 over five years. Five-year ROI reaches 149.56% and total cumulative return in cash sums $136,793. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,458/mo property income rather than buyer’s personal income.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02838, Manville, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,593 (100%) |
| Owner Occupied HU | 686 (43.1%) |
| Renter Occupied HU | 827 (51.9%) |
| Vacant Housing Units | 80 ( 5.0%) |
| Median Home Value | $454,131 |
| Average Home Value | $466,611 |
Housing Distribution
Address Breakdown
Residential
1,595
Single Family
1,331
Multi-Family
264
Businesses
92
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Listed by: Maureen Fisher • Century 21 Limitless
Mls Name: StateWide MLS RI
Mls ID: #1395593