1507 W Chelan AveSpokaneWA99205
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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
Investment Highlights
Rental property for sale in Spokane at 1507 W Chelan Ave, Spokane, WA, 99205 generates $882/mo in rent, after a $950/mo payment. Total monthly income is $882/mo. Return on cash invested sits at 14.6% in year one, and rental yield is 5.46% on a $194,000 entry. Equity gained on principal adds $1,252/yr, while 5% annual appreciation builds toward $53,599 over five years. Five-year ROI reaches 74.18% and total cumulative return in cash sums $47,708. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $882/mo property income rather than buyer’s personal income.
Single Family
Built in 1910
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 99205, Spokane, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,110 (100%) |
| Owner Occupied HU | 13,065 (68.4%) |
| Renter Occupied HU | 5,398 (28.2%) |
| Vacant Housing Units | 647 ( 3.4%) |
| Median Home Value | $350,276 |
| Average Home Value | $403,425 |
Housing Distribution
Address Breakdown
Residential
18,144
Single Family
17,165
Multi-Family
979
Businesses
741
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Listed by: Gina Snyder • John L Scott, Spokane Valley
Mls Name: SMLS
Mls ID: #202610038