8 Parkman StProvidenceRI02907
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
Investment Highlights
Rental property for sale in Providence at 8 Parkman St, Providence, RI, 02907 priced at $399,900 converts $2,765/mo rent into $155/mo cash flow after a $1,957/mo obligation. Total monthly income equals $2,765/mo, and annual cash flow totals $1,858/yr on $132,567 invested. Return on cash invested prints 21.31% in year one, and rental yield reads 8.3% against a $399,900 entry. Equity gained on principal adds $2,580/yr, while 5% annual appreciation compiles into $110,485 by year five. Five-year ROI reaches 110.8% and total cumulative return in cash sums $146,888. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,765/mo property income covering a $1,957/mo payment, not borrower’s personal income.
Single Family
Built in 1921
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02907, Providence, RI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,661 (100%) |
| Owner Occupied HU | 2,961 (27.8%) |
| Renter Occupied HU | 7,081 (66.4%) |
| Vacant Housing Units | 619 ( 5.8%) |
| Median Home Value | $351,850 |
| Average Home Value | $403,428 |
Housing Distribution
Address Breakdown
Residential
8,964
Single Family
7,561
Multi-Family
1,403
Businesses
1,034
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Listed by: Dan Driscoll • Coastal Properties RI
Mls Name: StateWide MLS RI
Mls ID: #1389284