494 Putnam Pike APT B5, Smithfield, RI, 02828 | $754/mo Cash Flow

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494 Putnam Pike APT B5, Smithfield, RI, 02828 | $754/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Smithfield at 494 Putnam Pike APT B5, Smithfield, RI, 02828 offers a 11.32% rental yield on a $260,000 purchase with $2,452/mo rent. Total monthly income registers $2,452/mo, and a $1,273/mo payment leaves $754/mo available for distribution. Annual cash flow reaches $9,052/yr on $86,190 to close, and return on cash invested stands at 30.41% in year one. Equity gained on principal adds $1,678/yr while 5% annual appreciation supports $71,833 over five years. Portfolio math shows five-year ROI at 159.66% and total cumulative return in cash at $137,609. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,452/mo property income against a $1,273/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1969

N/A lot

$N/A/sqft

No HOA

More details about the property

Beautifully maintained and move-in ready 2-bedroom condo offering a private first-floor entrance and a bright, airy interior filled with natural light. Enjoy a peaceful wooded view from the spacious living room, perfect for relaxing or entertaining. Recent updates include new flooring throughout, fresh interior paint, a remodeled bathroom, and an upgraded electrical panel. The kitchen features a refrigerator and ample cabinet space. Condo fee includes heat and hot water, adding to the convenience and value. Set in a quiet, serene community, yet just moments from shopping, dining, and recreationwith quick access to I-295 for easy commuting. A perfect blend of comfort, location, and low-maintenance living! Subject to seller finding suitable housing.

Neighborhood Data

Neighborhood data shown for ZIP Code: 02828, Greenville, RI area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	2,855 (100%)
Owner Occupied HU	2,381 (83.4%)
Renter Occupied HU	378 (13.2%)
Vacant Housing Units	96 ( 3.4%)
Median Home Value	$470,477
Average Home Value	$518,163