498 Washington StProvidenceRI02903
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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 498 Washington St, Providence, RI, 02903 offers $2,760/mo rent that, after a $4,796/mo payment. Total monthly income is $2,760/mo. Return on cash invested measures 6.52% in year one, and rental yield stands at 3.38% at a $979,900 entry. Equity gained on principal adds $6,323/yr while 5% annual appreciation compounds into $270,728 by year five. Five-year ROI records 31.48% and total cumulative return in cash reaches $101,501. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,760/mo property income versus a $4,796/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1900
4,364 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02903, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,210 (100%) |
| Owner Occupied HU | 849 (11.8%) |
| Renter Occupied HU | 5,578 (77.4%) |
| Vacant Housing Units | 783 (10.9%) |
| Median Home Value | $506,192 |
| Average Home Value | $509,519 |
Housing Distribution
Address Breakdown
Residential
6,543
Single Family
2,417
Multi-Family
4,126
Businesses
2,221
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Listed by: Jane Driver • Residential Properties Ltd
Mls Name: StateWide MLS RI
Mls ID: #1402672