1120 Cliff Avenue #501TacomaWA98402
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingFor first-time U.S. investors or those diversifying conservatively, 1120 Cliff Avenue #501, Tacoma, WA, 98402 in Tacoma offers a clean, manageable entry. Rental yield 6%. DSCR 1.11 qualifies for Ziffy Mortgage's no-W2 mortgage for non-U.S. residents. Long-term: 5% annual appreciation projects $117,420 in additional property value over five years, with $3,914/yr in principal equity building ownership stake. Total projected cumulative return: $133,127.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6% | 5.2% |
| Monthly Cash Flow | $(1,031) | $285 |
City averages based on Tacoma market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,124 |
| Total Monthly Debt Service | $2,386 |
| DSCR Ratio | 0.89x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1907
230.87 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98402, Tacoma, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,421 (100%) |
| Owner Occupied HU | 388 ( 7.2%) |
| Renter Occupied HU | 4,085 (75.4%) |
| Vacant Housing Units | 948 (17.5%) |
| Median Home Value | $587,248 |
| Average Home Value | $633,022 |
Housing Distribution
Address Breakdown
Residential
5,028
Single Family
1,034
Multi-Family
3,994
Businesses
1,122
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
Condo
Built in 1907
230.87 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98402, Tacoma, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,421 (100%) |
| Owner Occupied HU | 388 ( 7.2%) |
| Renter Occupied HU | 4,085 (75.4%) |
| Vacant Housing Units | 948 (17.5%) |
| Median Home Value | $587,248 |
| Average Home Value | $633,022 |
Housing Distribution
Address Breakdown
Residential
5,028
Single Family
1,034
Multi-Family
3,994
Businesses
1,122
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Stacie Palzer • Keller Williams Greater 360
Mls Name: NWMLS
Mls ID: #2468945