Providence, RI — Rental Investment Analysis

🔴WEAK— appreciation play only

Cap Rate

3.1%

Below average

Monthly Cash Flow

-$1,087

After all expenses

Price-to-Rent

16.9

Overpriced for rent

DSCR

0.49

Fails

📊 Key Metrics

Median Home Price: $414,853
Average Rent (3BR): $2,040/mo
Price-to-Rent Ratio: 16.9(high)
1% Rule: 0.49%(fails — need 1%+)
Cash-on-Cash Return: -14.1%
Vacancy Rate: 8.0%

📈 Market Strength

Unemployment Rate: 4.5%(+0.2% vs national)
Rent Growth (YoY): +2.9%(national avg)
Population Growth: +0.1% YoY

Assumptions Used

20% down, 7.000000000000001% rate, 30yr, 8% vacancy, 10% maintenance

Customize these numbers →

Property Tax Rate

1.4%

of assessed value (RI avg)

Median Income

$74,008

household (RI avg)

Rent-to-Income

33.1%

Moderate

Section 8 Max Rent

$2,040/mo

3BR voucher payment

🏛️ RI Investor Climate

Landlord Friendly

5/10

State Income Tax

Has state tax

Property Tax

1.4% effective

Population Trend

+0.1% (3yr)

🏘️ Best Zip Codes in Providence for Investors

02903

Cap Rate: 4.6%Cash Flow: -$660/mo$441,098

02904

Cap Rate: 3.2%Cash Flow: -$1,058/mo$397,965

02905

Cap Rate: 3.2%Cash Flow: -$1,130/mo$420,785

All Zip Codes in Providence

Zip	Cap Rate	Cash Flow	Home Price	Rent (3BR)	DSCR
02903	4.6%	-$660	$441,098	$2,820/mo	0.72
02904	3.2%	-$1,058	$397,965	$1,980/mo	0.50
02905	3.2%	-$1,130	$420,785	$2,080/mo	0.50
02908	3.1%	-$1,123	$414,853	$2,040/mo	0.49
02907	3.1%	-$1,087	$398,621	$1,950/mo	0.49
02909	3.1%	-$1,049	$383,168	$1,870/mo	0.49
02906	1.6%	-$3,228	$805,025	$2,680/mo	0.25