18808 38th Avenue ETacomaWA98446
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGlobal investors willing to prioritise equity over near-term yield will find 18808 38th Avenue E, Tacoma, WA, 98446 in Tacoma worth study. Rental yield 2.78%. The 2.78% gross yield is below cash-flow benchmarks at $1,200,000, but 5% annual appreciation, adding $331,538 over five years, frames this as a capital growth position. Rent of $2,780/mo partially offsets the $5,396/mo payment. Ziffy Mortgage finances appreciation-play properties (0.52 DSCR) for non-U.S. residents without domestic income documentation; a 30–35% down payment maximises coverage. Total projected return: $168,773.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.8% | 5.2% |
| Monthly Cash Flow | $(4,433) | $285 |
City averages based on Tacoma market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,780 |
| Total Monthly Debt Service | $6,736 |
| DSCR Ratio | 0.41x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Multi Family
Built in 1978
3.78 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98446, Tacoma, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,985 (100%) |
| Owner Occupied HU | 3,206 (64.3%) |
| Renter Occupied HU | 1,631 (32.7%) |
| Vacant Housing Units | 148 ( 3.0%) |
| Median Home Value | $549,058 |
| Average Home Value | $595,935 |
Housing Distribution
Address Breakdown
Residential
5,093
Single Family
4,304
Multi-Family
789
Businesses
110
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
Multi Family
Built in 1978
3.78 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98446, Tacoma, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,985 (100%) |
| Owner Occupied HU | 3,206 (64.3%) |
| Renter Occupied HU | 1,631 (32.7%) |
| Vacant Housing Units | 148 ( 3.0%) |
| Median Home Value | $549,058 |
| Average Home Value | $595,935 |
Housing Distribution
Address Breakdown
Residential
5,093
Single Family
4,304
Multi-Family
789
Businesses
110
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Corey Crain • Keller Williams Realty Bothell
Mls Name: NWMLS
Mls Provider:
Mls ID: #2424703
Disclaimer: Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2025. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. 2025 NWMLS. All rights are reserved. Disclaimer: The information contained in this listing has not been verified by Zillow, Inc. and should be verified by the buyer. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#39)