97 Farnum Pike UNIT 7, Smithfield, RI, 02917 | $325/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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97 Farnum Pike UNIT 7, Smithfield, RI, 02917 | $325/mo Cash Flow | Ziffy

For Sale

Fix & Flip

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 97 Farnum Pike UNIT 7, Smithfield, RI, 02917 uses $154,148 cash to close to unlock $3,894/yr annual cash flow and $325/mo monthly cash flow. Total monthly income runs $3,360/mo, and a $2,276/mo payment keeps the spread at $325/mo. Purchase price stands at $465,000, and rental yield measures 8.67% with $3,360/mo rent. Return on cash invested shows 22.44% in year one, and 5% annual appreciation builds toward $128,471 over five years. Five-year ROI reaches 116.84% and total cumulative return in cash records $180,107. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,360/mo property income covering a $2,276/mo payment rather than investor’s personal income.

Townhouse

Built in 2003

N/A lot

$N/A/sqft

No HOA

More details about the property

THIS IS A RARE WATERFRONT TRI-LEVEL OFFERING TRULY EXCEPTIONAL VIEWS. EVERY SEASON IS A GIFT OF NATURE. THERE ARE TWO DECKS TO ENJOY THESE VIEWS. ONE OFF THE LIVING ROOM/DINING AREA AND THE OTHER OFF THE PRIMARY BEDROOM. THE EXCITING FEATURE TO THIS COMPLEX IS THE PRIVATE BEACH (ONLY FOR THIS COMPLEX). THE HOME OFFERS AN OPEN FLOOR PLAN ACCENTED BY VAULTED CEILINGS & SKYLIGHTS. THE ROOM SIZES ARE GENEROUS PROVIDING MANY POSSIBILITIES FOR FURNITURE PLACEMENT (TO ENJOY THE VIEWS.) THE KITCHEN & BATHROOMS ARE GRANITE, WITH HARDWOOD FLOORS THROUGHOUT. THE GARAGE IS OVERSIZED PROVIDING GOOD STORAGE SPACE, THERE'S A WHOLE HOUSE WATER FILTRATION SYSTEM, THE FURNACE IS 8 YEARS OLD & THE ROOF IS 10 YEARS OLD. MAKE THIS VERY COOL RELAXING HOME YOUR OWN AND SPOIL YOURSELF WITH THE YEAR-ROUND BEAUTY OF NATURE. PRICED TO SELL AND QUICK OCCUPANCY IS POSSIBLE - MUST BE SEEN TO BE APPRECIATED!

Neighborhood Data

Neighborhood data shown for ZIP Code: 02917, Smithfield, RI area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,210 (100%)
Owner Occupied HU	4,016 (77.1%)
Renter Occupied HU	1,003 (19.3%)
Vacant Housing Units	191 ( 3.7%)
Median Home Value	$478,603
Average Home Value	$532,500