1298 SW 301st StreetFederal WayWA98023
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 3.42% gross rental yield, 1298 SW 301st Street, Federal Way, WA, 98023 in Federal Way is priced for capital growth, not immediate cash flow. The $1,368,800 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $378,174 by year five, with $12,607/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (0.63) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $239,454.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.4% | 4.5% |
| Monthly Cash Flow | $(4,328) | $285 |
City averages based on Federal Way market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,900 |
| Total Monthly Debt Service | $7,683 |
| DSCR Ratio | 0.51x |
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.
Single Family
Built in 1968
0.89 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98023, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,083 (100%) |
| Owner Occupied HU | 11,696 (61.3%) |
| Renter Occupied HU | 6,783 (35.5%) |
| Vacant Housing Units | 604 ( 3.2%) |
| Median Home Value | $621,826 |
| Average Home Value | $711,004 |
Housing Distribution
Address Breakdown
Residential
18,049
Single Family
14,981
Multi-Family
3,068
Businesses
230
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
Single Family
Built in 1968
0.89 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98023, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,083 (100%) |
| Owner Occupied HU | 11,696 (61.3%) |
| Renter Occupied HU | 6,783 (35.5%) |
| Vacant Housing Units | 604 ( 3.2%) |
| Median Home Value | $621,826 |
| Average Home Value | $711,004 |
Housing Distribution
Address Breakdown
Residential
18,049
Single Family
14,981
Multi-Family
3,068
Businesses
230
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Veronique Hval • Windermere Real Estate Co.
Mls Name: NWMLS
Mls ID: #2473286