2302 W Gibbs RdSpokaneWA99224
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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 2302 W Gibbs Rd, Spokane, WA, 99224 generates $6,900/mo in rent, after a $8,810/mo payment. Total monthly income is $6,900/mo. Return on cash invested sits at 12.3% in year one, and rental yield is 4.6% on a $1,800,000 entry. Equity gained on principal adds $11,615/yr, while 5% annual appreciation builds toward $497,307 over five years. Five-year ROI reaches 61.72% and total cumulative return in cash sums $359,927. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $6,900/mo property income rather than buyer’s personal income.
Single Family
Built in 2022
9.81 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 99224, Spokane, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,817 (100%) |
| Owner Occupied HU | 7,291 (61.7%) |
| Renter Occupied HU | 3,763 (31.8%) |
| Vacant Housing Units | 763 ( 6.5%) |
| Median Home Value | $565,442 |
| Average Home Value | $579,828 |
Housing Distribution
Address Breakdown
Residential
10,799
Single Family
9,405
Multi-Family
1,394
Businesses
365
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Listed by: Natalia Seefeldt • Regal Real Estate
Mls Name: SMLS
Mls ID: #202524457