5 Morrill Ln UNIT GNorth ProvidenceRI02904
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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 North Providence at 5 Morrill Ln UNIT G, North Providence, RI, 02904 offers a 11.53% rental yield on a $389,900 purchase with $3,745/mo rent. Total monthly income registers $3,745/mo, and a $1,908/mo payment leaves $1,200/mo available for distribution. Annual cash flow reaches $14,402/yr on $129,252 to close, and return on cash invested stands at 31.05% in year one. Equity gained on principal adds $2,516/yr while 5% annual appreciation supports $107,722 over five years. Portfolio math shows five-year ROI at 163.06% and total cumulative return in cash at $210,757. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,745/mo property income against a $1,908/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02904, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,909 (100%) |
| Owner Occupied HU | 7,560 (50.7%) |
| Renter Occupied HU | 6,589 (44.2%) |
| Vacant Housing Units | 760 ( 5.1%) |
| Median Home Value | $378,322 |
| Average Home Value | $423,426 |
Housing Distribution
Address Breakdown
Residential
14,276
Single Family
10,908
Multi-Family
3,368
Businesses
1,012
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Listed by: N/A • N/A
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