2440 S Steele Street #303TacomaWA98405
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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
Investment property for sale in Tacoma at 2440 S Steele Street #303, Tacoma, WA, 98405 uses $134,921 cash to close to unlock $2,106/yr annual cash flow and $176/mo monthly cash flow. Total monthly income runs $2,622/mo, and a $1,992/mo payment keeps the spread at $176/mo. Purchase price stands at $407,000, and rental yield measures 7.73% with $2,622/mo rent. Return on cash invested shows 21.47% in year one, and 5% annual appreciation builds toward $112,447 over five years. Five-year ROI reaches 110.99% and total cumulative return in cash records $149,754. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,622/mo property income covering a $1,992/mo payment rather than investor’s personal income.
Condo
Built in 2004
1,045 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98405, Tacoma, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,817 (100%) |
| Owner Occupied HU | 4,859 (37.9%) |
| Renter Occupied HU | 7,052 (55.0%) |
| Vacant Housing Units | 906 ( 7.1%) |
| Median Home Value | $552,735 |
| Average Home Value | $608,483 |
Housing Distribution
Address Breakdown
Residential
11,258
Single Family
7,589
Multi-Family
3,669
Businesses
720
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Listed by: Bethany Fox • Gateway Real Estate
Mls Name: NWMLS
Mls ID: #2471717