2026 S 368th PlaceFederal WayWA98003
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderFor first-time U.S. investors or those diversifying conservatively, 2026 S 368th Place, Federal Way, WA, 98003 in Federal Way offers a clean, manageable entry. Rental yield 7.13%. DSCR 1.32 qualifies for Ziffy Mortgage's no-W2 mortgage for non-U.S. residents. Long-term: 5% annual appreciation projects $104,973 in additional property value over five years, with $3,499/yr in principal equity building ownership stake. Total projected cumulative return: $114,362.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.1% | 4.5% |
| Monthly Cash Flow | $(489) | $285 |
City averages based on Federal Way market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,258 |
| Total Monthly Debt Service | $2,596 |
| DSCR Ratio | 0.87x |
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.
Townhouse
Built in 1995
N/A lot
$N/A/sqft
$463 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98003, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,028 (100%) |
| Owner Occupied HU | 9,192 (45.9%) |
| Renter Occupied HU | 10,187 (50.9%) |
| Vacant Housing Units | 649 ( 3.2%) |
| Median Home Value | $539,109 |
| Average Home Value | $663,372 |
Housing Distribution
Address Breakdown
Residential
19,426
Single Family
12,485
Multi-Family
6,941
Businesses
1,833
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
Townhouse
Built in 1995
N/A lot
$N/A/sqft
$463 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98003, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,028 (100%) |
| Owner Occupied HU | 9,192 (45.9%) |
| Renter Occupied HU | 10,187 (50.9%) |
| Vacant Housing Units | 649 ( 3.2%) |
| Median Home Value | $539,109 |
| Average Home Value | $663,372 |
Housing Distribution
Address Breakdown
Residential
19,426
Single Family
12,485
Multi-Family
6,941
Businesses
1,833
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Chase Peart • TPMS Realty LLC
Mls Name: NWMLS
Mls Provider:
Mls ID: #2357856
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)