7 Mount Hope Ave #103ProvidenceRI02906
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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 Providence at 7 Mount Hope Ave #103, Providence, RI, 02906 listed at $515,500 pairs $3,696/mo rent with a $2,523/mo payment to leave $331/mo cash flow. Total monthly income runs $3,696/mo, and annual cash flow reaches $3,972/yr on $169,600 cash to close. Return on cash invested measures 22.4% in year one, and rental yield registers 8.6% at a $515,500 basis. Equity gained on principal adds $3,326/yr, and annual property appreciation at 5% supports $142,423 by year five. Five-year ROI tracks 116.65% and total cumulative return in cash totals $197,834. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,696/mo property income relative to a $2,523/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2018
0.96 Acres 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
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Listed by: William Sherry • Compass
Mls Name: StateWide MLS RI
Mls ID: #1392277