494 Putnam Pike APT B5SmithfieldRI02828
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Smithfield at 494 Putnam Pike APT B5, Smithfield, RI, 02828 offers a 11.64% rental yield on a $250,000 purchase with $2,426/mo rent. Total monthly income registers $2,426/mo, and a $1,224/mo payment leaves $794/mo available for distribution. Annual cash flow reaches $9,524/yr on $82,875 to close, and return on cash invested stands at 31.4% in year one. Equity gained on principal adds $1,613/yr while 5% annual appreciation supports $69,070 over five years. Portfolio math shows five-year ROI at 164.93% and total cumulative return in cash at $136,690. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,426/mo property income against a $1,224/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
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 |
Housing Distribution
Address Breakdown
Residential
3,087
Single Family
2,651
Multi-Family
436
Businesses
340
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Nancy Lamothe • Jack Conway & Co Inc.
Mls Name: StateWide MLS RI
Mls ID: #1402490