2020 SW 318th Place #C3Federal WayWA98023
INVESTMENT ANALYSIS
Investment Verdict
Solid Income2020 SW 318th Place #C3, Federal Way, WA, 98023 in Federal Way is a solid income-producing rental, 8.8% gross yield, $2,170/mo rent, $391/mo net cash flow on a $295,900 buy. DSCR 1.63 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $81,752 and $2,725/yr in principal reduction project a total cumulative return of $137,150.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 4.5% |
| Monthly Cash Flow | $391 | $285 |
City averages based on Federal Way market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,170 |
| Total Monthly Debt Service | $1,661 |
| DSCR Ratio | 1.31x |
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 1968
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 1968
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: Tiffany Lynch • Best Choice Realty LLC
Mls Name: NWMLS
Mls ID: #2429383