2511 S 248th Street #B21KentWA98032
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowTight but positive: 2511 S 248th Street #B21, Kent, WA, 98032 in Kent at $220,000 earns $1,894/mo in rent and nets $169/mo after the $989/mo payment, a 10.33% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $60,782 over five years. Ziffy Mortgage underwrites this on a 1.92 DSCR without U.S. credit history. With $2,026/yr in principal paydown, total projected return reaches $120,074.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 5.8% |
| Monthly Cash Flow | $169 | $1,850 |
City averages based on Kent market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,894 |
| Total Monthly Debt Service | $1,235 |
| DSCR Ratio | 1.53x |
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 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98032, Kent, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,244 (100%) |
| Owner Occupied HU | 6,094 (37.5%) |
| Renter Occupied HU | 9,179 (56.5%) |
| Vacant Housing Units | 971 ( 6.0%) |
| Median Home Value | $578,250 |
| Average Home Value | $690,729 |
Housing Distribution
Address Breakdown
Residential
15,532
Single Family
7,163
Multi-Family
8,369
Businesses
2,598
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 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98032, Kent, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,244 (100%) |
| Owner Occupied HU | 6,094 (37.5%) |
| Renter Occupied HU | 9,179 (56.5%) |
| Vacant Housing Units | 971 ( 6.0%) |
| Median Home Value | $578,250 |
| Average Home Value | $690,729 |
Housing Distribution
Address Breakdown
Residential
15,532
Single Family
7,163
Multi-Family
8,369
Businesses
2,598
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brian James Slete • Redfin
Mls Name: NWMLS
Mls ID: #2475969