15520 Fair Oaks Drive SSpanawayWA98387
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis Spanaway rental at 15520 Fair Oaks Drive S, Spanaway, WA, 98387 sits in the solid-income band: 8.49% gross yield, $3,077/mo rent, $462/mo net after the $1,956/mo debt service, DSCR 1.57. Entry price of $435,000 is well-calibrated for the income it produces. Ziffy Mortgage finances this type of asset on rental income alone, no tax returns, no U.S. credit profile. Projected five-year appreciation of $120,182 and $4,006/yr in principal reduction bring total cumulative return to $194,395.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 5.8% |
| Monthly Cash Flow | $462 | $1,250 |
City averages based on Spanaway market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,077 |
| Total Monthly Debt Service | $2,442 |
| DSCR Ratio | 1.26x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 1991
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98387, Spanaway, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,644 (100%) |
| Owner Occupied HU | 13,271 (75.2%) |
| Renter Occupied HU | 3,965 (22.5%) |
| Vacant Housing Units | 408 ( 2.3%) |
| Median Home Value | $526,528 |
| Average Home Value | $531,866 |
Housing Distribution
Address Breakdown
Residential
17,143
Single Family
16,837
Multi-Family
306
Businesses
643
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 1991
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98387, Spanaway, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,644 (100%) |
| Owner Occupied HU | 13,271 (75.2%) |
| Renter Occupied HU | 3,965 (22.5%) |
| Vacant Housing Units | 408 ( 2.3%) |
| Median Home Value | $526,528 |
| Average Home Value | $531,866 |
Housing Distribution
Address Breakdown
Residential
17,143
Single Family
16,837
Multi-Family
306
Businesses
643
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sandy McKenzie • Engel & Voelkers Chambers Bay
Mls Name: NWMLS
Mls Provider:
Mls ID: #2375579
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-28 04:14:41 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. [Click here for more information](/mls-disclaimers/#39)