216 Colvin PlaceMount VernonWA98274
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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
Investment Highlights
Rental property for sale in Mount Vernon at 216 Colvin Place, Mount Vernon, WA, 98274 priced at $528,500 converts $2,638/mo rent into after a $2,587/mo obligation. Total monthly income equals $2,638/mo. Return on cash invested prints 16.34% in year one, and rental yield reads 5.99% against a $528,500 entry. Equity gained on principal adds $3,410/yr, while 5% annual appreciation compiles into $146,015 by year five. Five-year ROI reaches 83.43% and total cumulative return in cash sums $145,060. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,638/mo property income covering a $2,587/mo payment, not borrower’s personal income.
Single Family
Built in 1968
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98274, Mount Vernon, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,287 (100%) |
| Owner Occupied HU | 5,848 (70.6%) |
| Renter Occupied HU | 1,556 (18.8%) |
| Vacant Housing Units | 883 (10.7%) |
| Median Home Value | $610,092 |
| Average Home Value | $639,892 |
Housing Distribution
Address Breakdown
Residential
7,506
Single Family
7,159
Multi-Family
347
Businesses
171
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Listed by: Leo Cohen • Bellingham Real Estate Company
Mls Name: NWMLS
Mls ID: #2450943