23405 16th Place S #C104SeattleWA98198
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 23405 16th Place S #C104, Seattle, WA, 98198 in Seattle is narrow, $152/mo net on $2,260/mo rent after the $1,259/mo debt service, but the property operates at break-even-plus, not a loss. At $279,990 with a 9.68% yield, the long-run equity case via 5% appreciation ($77,356 over five years) and $2,579/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.80 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $143,109.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 4.8% |
| Monthly Cash Flow | $152 | $1,250 |
City averages based on Seattle market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,260 |
| Total Monthly Debt Service | $1,572 |
| DSCR Ratio | 1.44x |
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 1984
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98198, Seattle, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,551 (100%) |
| Owner Occupied HU | 7,940 (51.1%) |
| Renter Occupied HU | 6,643 (42.7%) |
| Vacant Housing Units | 968 ( 6.2%) |
| Median Home Value | $668,434 |
| Average Home Value | $799,850 |
Housing Distribution
Address Breakdown
Residential
14,886
Single Family
8,936
Multi-Family
5,950
Businesses
818
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 1984
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98198, Seattle, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,551 (100%) |
| Owner Occupied HU | 7,940 (51.1%) |
| Renter Occupied HU | 6,643 (42.7%) |
| Vacant Housing Units | 968 ( 6.2%) |
| Median Home Value | $668,434 |
| Average Home Value | $799,850 |
Housing Distribution
Address Breakdown
Residential
14,886
Single Family
8,936
Multi-Family
5,950
Businesses
818
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: NWMLS
Mls ID: #2391032