6 Mill StNorth SmithfieldRI02896
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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 North Smithfield at 6 Mill St, North Smithfield, RI, 02896 priced at $500,000 pairs $3,840/mo rent with $576/mo cash flow after a $2,447/mo payment. Total monthly income equals $3,840/mo, and annual cash flow comes to $6,916/yr on $165,750 invested. Return on cash invested is 24.08% in year one, and rental yield stands at 9.22% on a $500,000 basis. Equity gained on principal adds $3,226/yr, and 5% annual appreciation accumulates to $138,141 by year five. Five-year ROI measures 125.67% and total cumulative return in cash reaches $208,292. For financing, Ziffy Mortgage’s DSCR program evaluates $3,840/mo property income against a $2,447/mo payment instead of your W2s, 1099s, or Tax returns.
Multi Family
Built in 1800
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02896, North Smithfield, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,671 (100%) |
| Owner Occupied HU | 3,460 (74.1%) |
| Renter Occupied HU | 1,036 (22.2%) |
| Vacant Housing Units | 175 ( 3.7%) |
| Median Home Value | $474,343 |
| Average Home Value | $507,164 |
Housing Distribution
Address Breakdown
Residential
4,505
Single Family
3,835
Multi-Family
670
Businesses
234
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Listed by: Lisa Helfrich • HomeSmart Professionals
Mls Name: StateWide MLS RI
Mls ID: #1392263