2011 SW 318th Place #6CFederal WayWA98023
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe cash-flow margin at 2011 SW 318th Place #6C, Federal Way, WA, 98023 in Federal Way is narrow, $126/mo net on $2,323/mo rent after the $1,210/mo debt service, but the property operates at break-even-plus, not a loss. At $269,000 with a 10.36% yield, the long-run equity case via 5% appreciation ($74,320 over five years) and $2,478/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.92 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $147,217.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.4% | 4.5% |
| Monthly Cash Flow | $126 | $285 |
City averages based on Federal Way market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,323 |
| Total Monthly Debt Service | $1,510 |
| DSCR Ratio | 1.54x |
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.
Condo
Built in 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98023, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,083 (100%) |
| Owner Occupied HU | 11,696 (61.3%) |
| Renter Occupied HU | 6,783 (35.5%) |
| Vacant Housing Units | 604 ( 3.2%) |
| Median Home Value | $621,826 |
| Average Home Value | $711,004 |
Housing Distribution
Address Breakdown
Residential
18,049
Single Family
14,981
Multi-Family
3,068
Businesses
230
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
Condo
Built in 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98023, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,083 (100%) |
| Owner Occupied HU | 11,696 (61.3%) |
| Renter Occupied HU | 6,783 (35.5%) |
| Vacant Housing Units | 604 ( 3.2%) |
| Median Home Value | $621,826 |
| Average Home Value | $711,004 |
Housing Distribution
Address Breakdown
Residential
18,049
Single Family
14,981
Multi-Family
3,068
Businesses
230
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tammy L Lundin • RE/MAX Integrity
Mls Name: NWMLS
Mls ID: #2465336