493 Academy AveProvidenceRI02908
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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 493 Academy Ave, Providence, RI, 02908 offers $3,641/mo rent that, after a $2,545/mo payment, leaves $247/mo cash flow. Total monthly income is $3,641/mo, and annual cash flow is $2,962/yr on $171,047 cash. Return on cash invested measures 21.79% in year one, and rental yield stands at 8.4% at a $519,900 entry. Equity gained on principal adds $3,355/yr while 5% annual appreciation compounds into $143,639 by year five. Five-year ROI records 113.35% and total cumulative return in cash reaches $193,876. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,641/mo property income versus a $2,545/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1925
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02908, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,787 (100%) |
| Owner Occupied HU | 6,158 (39.0%) |
| Renter Occupied HU | 8,471 (53.7%) |
| Vacant Housing Units | 1,158 ( 7.3%) |
| Median Home Value | $357,497 |
| Average Home Value | $392,124 |
Housing Distribution
Address Breakdown
Residential
13,721
Single Family
12,304
Multi-Family
1,417
Businesses
743
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Listed by: Kyle Seyboth • Century 21 Limitless
Mls Name: StateWide MLS RI
Mls ID: #1402464