1438 SE Fones Rd #A&BOlympiaWA98501
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 1438 SE Fones Rd #A&B, Olympia, WA, 98501 in Olympia is capital appreciation. Rental yield 4.3%. The 4.3% gross yield at $675,000 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $186,490 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.80) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $150,096.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.3% | 5.5% |
| Monthly Cash Flow | $(1,637) | $1,850 |
City averages based on Olympia market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,420 |
| Total Monthly Debt Service | $3,789 |
| DSCR Ratio | 0.64x |
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.
Multi Family
Built in 1955
0.35 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98501, Olympia, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,322 (100%) |
| Owner Occupied HU | 12,616 (59.2%) |
| Renter Occupied HU | 7,848 (36.8%) |
| Vacant Housing Units | 858 ( 4.0%) |
| Median Home Value | $574,804 |
| Average Home Value | $591,558 |
Housing Distribution
Address Breakdown
Residential
20,128
Single Family
17,521
Multi-Family
2,607
Businesses
1,559
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
Multi Family
Built in 1955
0.35 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98501, Olympia, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,322 (100%) |
| Owner Occupied HU | 12,616 (59.2%) |
| Renter Occupied HU | 7,848 (36.8%) |
| Vacant Housing Units | 858 ( 4.0%) |
| Median Home Value | $574,804 |
| Average Home Value | $591,558 |
Housing Distribution
Address Breakdown
Residential
20,128
Single Family
17,521
Multi-Family
2,607
Businesses
1,559
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: NWMLS as distributed by MLS GRID
Mls ID: #2548425