7 Mount Hope Ave #305ProvidenceRI02906
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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 #305, Providence, RI, 02906 listed at $472,000 pairs $2,620/mo rent with a $2,310/mo payment. Total monthly income runs $2,620/mo. Return on cash invested measures 12.52% in year one, and rental yield registers 6.66% at a $472,000 basis. Equity gained on principal adds $3,046/yr, and annual property appreciation at 5% supports $130,405 by year five. Five-year ROI tracks 65.11% and total cumulative return in cash totals $101,881. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,620/mo property income relative to a $2,310/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2019
N/A lot
$N/A/sqft
$502 monthly 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: Benjamin Antonelli • Real Broker, LLC
Mls Name: StateWide MLS RI
Mls Provider:
Mls ID: #1396147
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025 State-Wide MLS, Inc. All rights reserved.