1215 S 237th Lane #1308, Des Moines, WA, 98198 | $105/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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1215 S 237th Lane #1308, Des Moines, WA, 98198 | $105/mo Cash Flow | Ziffy

For Sale

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

Rental property for sale in Des Moines at 1215 S 237th Lane #1308, Des Moines, WA, 98198 generates $2,359/mo in rent and, after a $1,835/mo payment, leaves $105/mo in cash flow. Total monthly income is $2,359/mo, and annual cash flow is $1,263/yr on $124,313 invested. Return on cash invested sits at 20.92% in year one, and rental yield is 7.55% on a $375,000 entry. Equity gained on principal adds $2,420/yr, while 5% annual appreciation builds toward $103,606 over five years. Five-year ROI reaches 108.08% and total cumulative return in cash sums $134,355. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,359/mo property income rather than buyer’s personal income.

Townhouse

Built in 1982

10.98 Acres lot

$N/A/sqft

No HOA

More details about the property

Charming 2-bedroom, 1.5-bath townhouse with 1,092 sqft in the peaceful Hudson Ridge community. This two-level home offers a bright living room with a cozy fireplace and large windows. Dining area that opens to a private patio, and access to community amenities including a pool, exercise room, and clubhouse. Ideally located near downtown Des Moines, the marina, and the waterfront, shopping, dining, and Highline College. Easy access to freeways and light rail. Assigned parking space #154, and ample guest parking.

Neighborhood Data

Neighborhood data shown for ZIP Code: 98198, Seattle, WA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	15,551 (100%)
Owner Occupied HU	7,940 (51.1%)
Renter Occupied HU	6,643 (42.7%)
Vacant Housing Units	968 ( 6.2%)
Median Home Value	$668,434
Average Home Value	$799,850