2228 E Hoffman AveSpokaneWA99207
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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 Spokane at 2228 E Hoffman Ave, Spokane, WA, 99207 generates $1,467/mo in rent and, after a $1,028/mo payment, leaves $129/mo in cash flow. Total monthly income is $1,467/mo, and annual cash flow is $1,551/yr on $69,615 invested. Return on cash invested sits at 22.14% in year one, and rental yield is 8.38% on a $210,000 entry. Equity gained on principal adds $1,355/yr, while 5% annual appreciation builds toward $58,019 over five years. Five-year ROI reaches 115.05% and total cumulative return in cash sums $80,092. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,467/mo property income rather than buyer’s personal income.
Single Family
Built in 1940
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 99207, Spokane, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,587 (100%) |
| Owner Occupied HU | 6,966 (51.3%) |
| Renter Occupied HU | 5,911 (43.5%) |
| Vacant Housing Units | 710 ( 5.2%) |
| Median Home Value | $282,607 |
| Average Home Value | $343,885 |
Housing Distribution
Address Breakdown
Residential
12,625
Single Family
10,853
Multi-Family
1,772
Businesses
932
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Listed by: Tiffany Schmidt • John L Scott, Spokane Valley
Mls Name: SMLS
Mls Provider:
Mls ID: #202518696
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.