2515 Mitchell Avenue NEOlympiaWA98506
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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
Total monthly income runs $2,573/mo, and a $4,895/mo payment. Purchase price stands at $1,000,000, and rental yield measures 3.09% with $2,573/mo rent. Return on cash invested shows 7.52% in year one, and 5% annual appreciation builds toward $276,282 over five years. Five-year ROI reaches 36.13% and total cumulative return in cash records $118,876. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,573/mo property income covering a $4,895/mo payment rather than investor’s personal income.
Multi Family
Built in 1971
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98506, Olympia, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,575 (100%) |
| Owner Occupied HU | 5,252 (61.2%) |
| Renter Occupied HU | 3,001 (35.0%) |
| Vacant Housing Units | 322 ( 3.8%) |
| Median Home Value | $598,942 |
| Average Home Value | $672,860 |
Housing Distribution
Address Breakdown
Residential
8,579
Single Family
7,356
Multi-Family
1,223
Businesses
519
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Listed by: Tommy Lowe • Olympic Sotheby's Int'l Realty
Mls Name: NWMLS
Mls ID: #2447858