3008 N Narrows Drive #B102TacomaWA98407
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe 7.51% yield at 3008 N Narrows Drive #B102, Tacoma, WA, 98407 in Tacoma is solid, but the $1,389/mo payment compresses net cash flow to $77/mo at $309,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $85,371 by year five, and $2,846/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.39) without U.S. income documentation. Total projected return: $121,880.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.5% | 5.2% |
| Monthly Cash Flow | $77 | $285 |
City averages based on Tacoma market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,934 |
| Total Monthly Debt Service | $1,735 |
| DSCR Ratio | 1.12x |
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 1990
3,946 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98407, Tacoma, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,519 (100%) |
| Owner Occupied HU | 6,796 (64.6%) |
| Renter Occupied HU | 3,306 (31.4%) |
| Vacant Housing Units | 417 ( 4.0%) |
| Median Home Value | $683,531 |
| Average Home Value | $750,872 |
Housing Distribution
Address Breakdown
Residential
10,588
Single Family
7,800
Multi-Family
2,788
Businesses
285
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 1990
3,946 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98407, Tacoma, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,519 (100%) |
| Owner Occupied HU | 6,796 (64.6%) |
| Renter Occupied HU | 3,306 (31.4%) |
| Vacant Housing Units | 417 ( 4.0%) |
| Median Home Value | $683,531 |
| Average Home Value | $750,872 |
Housing Distribution
Address Breakdown
Residential
10,588
Single Family
7,800
Multi-Family
2,788
Businesses
285
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Cheryl J. Russell • Better Properties N. Proctor
Mls Name: NWMLS
Mls ID: #2393880