63 Pitman St #5ProvidenceRI02906
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow63 Pitman St #5, Providence, RI, 02906 in Providence is a top-tier cash-flow asset. At $249,999 it produces $2,378/mo in rent and $596/mo in net monthly income, a 11.42% gross rental yield. The DSCR of 2.12 qualifies for Ziffy Mortgage's DSCR loan without W-2s or U.S. credit history. Annual cash flow: $7,157. Five-year appreciation adds $69,070, driving a total cumulative return of $143,197.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.4% | 5.8% |
| Monthly Cash Flow | $596 | $850 |
City averages based on Providence market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,378 |
| Total Monthly Debt Service | $1,532 |
| DSCR Ratio | 1.55x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1900
4,926 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02906, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,287 (100%) |
| Owner Occupied HU | 5,790 (43.6%) |
| Renter Occupied HU | 6,560 (49.4%) |
| Vacant Housing Units | 937 ( 7.1%) |
| Median Home Value | $637,643 |
| Average Home Value | $693,669 |
Housing Distribution
Address Breakdown
Residential
11,798
Single Family
9,618
Multi-Family
2,180
Businesses
942
Nearby investment properties with comparable rents
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
Condo
Built in 1900
4,926 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02906, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,287 (100%) |
| Owner Occupied HU | 5,790 (43.6%) |
| Renter Occupied HU | 6,560 (49.4%) |
| Vacant Housing Units | 937 ( 7.1%) |
| Median Home Value | $637,643 |
| Average Home Value | $693,669 |
Housing Distribution
Address Breakdown
Residential
11,798
Single Family
9,618
Multi-Family
2,180
Businesses
942
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sara Fernandes • Century 21 Limitless
Mls Name: StateWide MLS RI
Mls ID: #1393654