720 Putnam Pike APT 603, Smithfield, RI, 02828 | $471/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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720 Putnam Pike APT 603, Smithfield, RI, 02828 | $471/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Smithfield at 720 Putnam Pike APT 603, Smithfield, RI, 02828 uses $122,324 cash to close to unlock $5,656/yr annual cash flow and $471/mo monthly cash flow. Total monthly income runs $2,880/mo, and a $1,806/mo payment keeps the spread at $471/mo. Purchase price stands at $369,000, and rental yield measures 9.37% with $2,880/mo rent. Return on cash invested shows 24.53% in year one, and 5% annual appreciation builds toward $101,948 over five years. Five-year ROI reaches 128.1% and total cumulative return in cash records $156,699. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,880/mo property income covering a $1,806/mo payment rather than investor’s personal income.

Condo

Built in 2003

N/A lot

$N/A/sqft

No HOA

More details about the property

Enjoy an easy, low-maintenance way of living at The Lakes, a sought-after 55+ community known for its peaceful setting, water views, and well-kept grounds. This inviting condo features an open, single level layout with large living and dining areas, an updated kitchen with stainless appliances and plenty of cabinet space, and a bright four-season sunroom that offers the perfect spot to relax with morning coffee or unwind at the end of the day. Two spacious bedrooms and 1.5 baths provide comfort and flexibility, while central air and a one-car garage add everyday convenience. Take a stroll along the communitys scenic waterfront or meet neighbors at the clubhouse, the ideal backdrop for a simple, comfortable lifestyle youll be proud to call home.

Neighborhood Data

Neighborhood data shown for ZIP Code: 02828, Greenville, RI area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	2,855 (100%)
Owner Occupied HU	2,381 (83.4%)
Renter Occupied HU	378 (13.2%)
Vacant Housing Units	96 ( 3.4%)
Median Home Value	$470,477
Average Home Value	$518,163