241 N Palmer Drive, Port Townsend, WA, 98368 | 5.5% Rental Yield

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241 N Palmer Drive, Port Townsend, WA, 98368 | 5.5% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Port Townsend at 241 N Palmer Drive, Port Townsend, WA, 98368 offers $3,551/mo rent that, after a $3,793/mo payment. Total monthly income is $3,551/mo. Return on cash invested measures 14.85% in year one, and rental yield stands at 5.5% at a $775,000 entry. Equity gained on principal adds $5,001/yr while 5% annual appreciation compounds into $214,118 by year five. Five-year ROI records 75.44% and total cumulative return in cash reaches $192,343. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,551/mo property income versus a $3,793/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Single Family

Built in 1964

0.31 Acres lot

$N/A/sqft

No HOA

More details about the property

Stunning westerly views of the sound, mountains & gorgeous sunsets in this highly coveted location. Spacious great room with cozy fireplace opens to a large deck designed to take in the beauty. This lovingly upgraded home has two rooms & full bath on one side of the house, plus two rooms & full bath on other side of house - so many possibilities! Primary bath includes a roll in shower, Toto & deep soaking tub. Convection heaters, mini-splits & radiant floor heating were thoughtful energy-efficient upgrades. And what a fantastic kitchen in the heart of the home, with elegant red birch cabinetry, tons of storage. Cape George amenities inc. gym, private beach, boat launch, pickleball, activities. This home is a gem!

Neighborhood Data

Neighborhood data shown for ZIP Code: 98368, Port Townsend, WA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	9,645 (100%)
Owner Occupied HU	6,530 (67.7%)
Renter Occupied HU	2,204 (22.9%)
Vacant Housing Units	911 ( 9.4%)
Median Home Value	$629,669
Average Home Value	$704,278