1585 Channel RoadLopez IslandWA98261
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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
Investment property for sale in Lopez Island at 1585 Channel Road, Lopez Island, WA, 98261 offers a 1.49% rental yield on a $1,495,000 purchase with $1,860/mo rent. 71% in year one. Equity gained on principal adds $9,647/yr while 5% annual appreciation supports $413,041 over five years. Portfolio math shows five-year ROI at 10.3% and total cumulative return in cash at $49,885. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,860/mo property income against a $7,317/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1966
5.60 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98261, Lopez Island, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,440 (100%) |
| Owner Occupied HU | 1,104 (45.2%) |
| Renter Occupied HU | 298 (12.2%) |
| Vacant Housing Units | 1,038 (42.5%) |
| Median Home Value | $837,209 |
| Average Home Value | $1,005,426 |
Housing Distribution
Address Breakdown
Residential
1,419
Single Family
1,403
Multi-Family
16
Businesses
193
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Listed by: Dianne Pressenda • Windermere RE/Lopez Island
Mls Name: NWMLS
Mls ID: #2393460