45 E Cherry Ln APT EWakefieldRI02879
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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
Investment property for sale in Wakefield at 45 E Cherry Ln APT E, Wakefield, RI, 02879 offers a 7.91% rental yield on a $475,000 purchase with $3,131/mo rent. Total monthly income registers $3,131/mo, and a $2,325/mo payment leaves $30/mo available for distribution. Annual cash flow reaches $362/yr on $157,463 to close, and return on cash invested stands at 20.14% in year one. Equity gained on principal adds $3,065/yr while 5% annual appreciation supports $131,234 over five years. Portfolio math shows five-year ROI at 104.54% and total cumulative return in cash at $164,611. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,131/mo property income against a $2,325/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Townhouse
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02879, Wakefield, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,559 (100%) |
| Owner Occupied HU | 7,283 (58.0%) |
| Renter Occupied HU | 2,390 (19.0%) |
| Vacant Housing Units | 2,886 (23.0%) |
| Median Home Value | $600,474 |
| Average Home Value | $690,834 |
Housing Distribution
Address Breakdown
Residential
10,038
Single Family
9,386
Multi-Family
652
Businesses
739
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Listed by: Maura Sayre • Coldwell Banker Realty
Mls Name: StateWide MLS RI
Mls ID: #1394395