16606 8th Avenue Ct E #47SpanawayWA98387
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 16606 8th Avenue Ct E #47, Spanaway, WA, 98387 in Spanaway at $698,375 earns $4,408/mo in rent and nets $168/mo after the $3,140/mo payment, a 7.57% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $192,948 over five years. Ziffy Mortgage underwrites this on a 1.40 DSCR without U.S. credit history. With $6,432/yr in principal paydown, total projected return reaches $277,832.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.6% | 5.8% |
| Monthly Cash Flow | $168 | $1,250 |
City averages based on Spanaway market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,408 |
| Total Monthly Debt Service | $3,920 |
| DSCR Ratio | 1.12x |
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 2026
8,507 sqft 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 2026
8,507 sqft 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: N/A • N/A
Mls Name: NWMLS as distributed by MLS GRID
Mls ID: #2490864