15618 SE 262nd PlaceCovingtonWA98042
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
Investment Highlights
Rental property for sale in Covington at 15618 SE 262nd Place, Covington, WA, 98042 generates $3,227/mo in rent and, after a $2,472/mo payment, leaves $154/mo in cash flow. Total monthly income is $3,227/mo, and annual cash flow is $1,849/yr on $166,145 invested. Return on cash invested sits at 21.17% in year one, and rental yield is 7.67% on a $505,000 entry. Equity gained on principal adds $3,259/yr, while 5% annual appreciation builds toward $139,522 over five years. Five-year ROI reaches 109.48% and total cumulative return in cash sums $181,890. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,227/mo property income rather than buyer’s personal income.
Single Family
Built in 1968
9,665 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98042, Kent, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,456 (100%) |
| Owner Occupied HU | 14,086 (80.7%) |
| Renter Occupied HU | 3,037 (17.4%) |
| Vacant Housing Units | 333 ( 1.9%) |
| Median Home Value | $690,370 |
| Average Home Value | $818,331 |
Housing Distribution
Address Breakdown
Residential
17,450
Single Family
15,982
Multi-Family
1,468
Businesses
636
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Listed by: Dylan Wolf • Pacific Wolf Realty
Mls Name: NWMLS
Mls Provider:
Mls ID: #2394095
Disclaimer: Based on information submitted to the MLS GRID as of 2025-11-02 21:14:38 PST. 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)