Off-Market Property at 131 Congdon St, Providence, RI, 02906
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131 Congdon St, Providence, RI, 02906

$950,000

Description

Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $549 per day and long-term for an average of $2,500 per month, based on similar listings in the area. Estimated short-term cap rate of -0.8%. Estimated long-term cap rate of -4.8%. Storybook Cottage perched above the city lights on one of College Hill's most desirable streets. This delightful home has over 1,700 square feet of beautifully renovated living space. The first floor boasts a sunny living/dining room with beautiful wood floors which flow throughout the house. The fully equipped chef’s kitchen has stone counters with center island, white wood cabinetry and opens to a family room with custom built-in’s, gas fireplace and atrium doors which step to a stone patio and secluded city garden. Upstairs is a spacious primary bedroom with warm wood floors, a full tile bath and two Juliet Balconies. A sweet guest room with bath and a Murphy bed that can also double as telecommuting space. Off street parking for two cars which you will rarely need as you can walk to the train, Downtown, shopping and the universities. The perfect in-town residence. Taxes do not include the homestead exemption which would be $8,734 annually if included.

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$0
Rental Policy
daily
Yearly Taxes
$14557
Bedrooms
2
Bathrooms
3
SQFT
1,735
Furnished
unknown
Year built
1890
Listing Status
Off Market
MLS
1357257

Short-term Rental Potential
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$68,088

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$547

Price/SQFT

Long-term Rental Potential
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$30,000

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$2,500/mo

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