2516 Mill AvenueBellinghamWA98225
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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
Rental property for sale in Bellingham at 2516 Mill Avenue, Bellingham, WA, 98225 generates $2,407/mo in rent, after a $3,891/mo payment. Total monthly income is $2,407/mo. Return on cash invested sits at 9.18% in year one, and rental yield is 3.63% on a $795,000 entry. Equity gained on principal adds $5,130/yr, while 5% annual appreciation builds toward $219,644 over five years. Five-year ROI reaches 45.04% and total cumulative return in cash sums $117,802. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,407/mo property income rather than buyer’s personal income.
Single Family
Built in 2011
3,419 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98225, Bellingham, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,865 (100%) |
| Owner Occupied HU | 9,090 (38.1%) |
| Renter Occupied HU | 13,336 (55.9%) |
| Vacant Housing Units | 1,439 ( 6.0%) |
| Median Home Value | $726,050 |
| Average Home Value | $791,333 |
Housing Distribution
Address Breakdown
Residential
21,880
Single Family
15,965
Multi-Family
5,915
Businesses
2,556
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Listed by: Marissa Noppe • Muljat Group
Mls Name: NWMLS
Mls ID: #2471022