569 Admiral St, Providence, RI, 02908 | $411/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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569 Admiral St, Providence, RI, 02908 | $411/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

Rental property for sale in Providence at 569 Admiral St, Providence, RI, 02908 priced at $425,000 pairs $3,185/mo rent with $411/mo cash flow after a $2,080/mo payment. Total monthly income equals $3,185/mo, and annual cash flow comes to $4,930/yr on $140,888 invested. Return on cash invested is 23.41% in year one, and rental yield stands at 8.99% on a $425,000 basis. Equity gained on principal adds $2,742/yr, and 5% annual appreciation accumulates to $117,420 by year five. Five-year ROI measures 122.04% and total cumulative return in cash reaches $171,941. For financing, Ziffy Mortgage’s DSCR program evaluates $3,185/mo property income against a $2,080/mo payment instead of your W2s, 1099s, or Tax returns.

Multi Family

Built in 1935

2,156 sqft lot

$N/A/sqft

No HOA

More details about the property

This well-maintained two-unit home on Admiral Street offers the perfect blend of comfort and convenience, and is ready to be delivered fully vacant! Each unit features two bedrooms and one bathroom, with beautiful original hardwood floors throughout. Modern touches include stainless steel appliances, granite countertops, and rainfall showerheads in the bathrooms. The basement offers an opportunity for potential expansion, with rough plumbing and framing already installed. Enjoy the vibrant neighborhood, with LaSalle Bakery, Bradley's Cafe, and The Abbey just a short walk away. The property is also steps from Providence College and offers easy access to Johnson & Wales University, Rhode Island College, and Brown University. An ideal home for both investors and residents seeking a prime location in Providence. Offers due by Monday, 7/14 at 6:00pm

Neighborhood Data

Neighborhood data shown for ZIP Code: 02908, Providence, RI area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	15,787 (100%)
Owner Occupied HU	6,158 (39.0%)
Renter Occupied HU	8,471 (53.7%)
Vacant Housing Units	1,158 ( 7.3%)
Median Home Value	$357,497
Average Home Value	$392,124