43 Chapin Ave #5ProvidenceRI02909
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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 43 Chapin Ave #5, Providence, RI, 02909 generates $2,280/mo in rent and, after a $1,561/mo payment, leaves $198/mo in cash flow. Total monthly income is $2,280/mo, and annual cash flow is $2,376/yr on $105,749 invested. Return on cash invested sits at 22.16% in year one, and rental yield is 8.58% on a $319,000 entry. Equity gained on principal adds $2,058/yr, while 5% annual appreciation builds toward $88,134 over five years. Five-year ROI reaches 115.32% and total cumulative return in cash sums $121,945. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,280/mo property income rather than buyer’s personal income.
Condo
Built in 1884
N/A 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: Justin Hetherington • Compass
Mls Name: StateWide MLS RI
Mls ID: #1395057