608 Black Plain RdNorth SmithfieldRI02896
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Nearby investment properties with comparable prices
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 608 Black Plain Rd, North Smithfield, RI, 02896 priced at $379,900 converts $2,704/mo rent into $225/mo cash flow after a $1,859/mo obligation. Total monthly income equals $2,704/mo, and annual cash flow totals $2,694/yr on $125,937 invested. Return on cash invested prints 22.05% in year one, and rental yield reads 8.54% against a $379,900 entry. Equity gained on principal adds $2,451/yr, while 5% annual appreciation compiles into $104,959 by year five. Five-year ROI reaches 114.78% and total cumulative return in cash sums $144,545. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,704/mo property income covering a $1,859/mo payment, not borrower’s personal income.
Single Family
Built in 1930
0.69 Acres 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: The NMR Group • Keller Williams Coastal
Mls Name: StateWide MLS RI
Mls ID: #1402994