56 River St APT 24West WarwickRI02893
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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 West Warwick at 56 River St APT 24, West Warwick, RI, 02893 with 5% annual appreciation on a $144,700 basis while $1,710/mo rent supports operations. Total monthly income totals $1,710/mo and a $708/mo payment preserves $489/mo for cash returns. Annual cash flow comes to $5,864/yr on $47,968 deployed, and return on cash invested reaches 32.13% in year one. Equity gained on principal adds $934/yr, and five-year appreciation sums $39,978 alongside rental yield of 14.18%. Five-year ROI measures 171.38% and total cumulative return in cash totals $82,210.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,710/mo property income versus a $708/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Condo
Built in 1965
N/A lot
$N/A/sqft
$277 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02893, West Warwick, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,695 (100%) |
| Owner Occupied HU | 7,722 (52.5%) |
| Renter Occupied HU | 6,160 (41.9%) |
| Vacant Housing Units | 813 ( 5.5%) |
| Median Home Value | $343,772 |
| Average Home Value | $379,155 |
Housing Distribution
Address Breakdown
Residential
14,016
Single Family
12,643
Multi-Family
1,373
Businesses
806
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Listed by: Christine DiNardi • RE/MAX Real Estate Center
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1368306
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2024 State-Wide MLS, Inc. All rights reserved.