3121 E 16th AveSpokaneWA99223
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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 Spokane at 3121 E 16th Ave, Spokane, WA, 99223 offers a 9.52% rental yield on a $510,000 purchase with $4,046/mo rent. Total monthly income registers $4,046/mo, and a $2,496/mo payment leaves $981/mo available for distribution. Annual cash flow reaches $11,766/yr on $167,790 to close, and return on cash invested stands at 27.07% in year one. Equity gained on principal adds $3,291/yr while 5% annual appreciation supports $140,904 over five years. Portfolio math shows five-year ROI at 141% and total cumulative return in cash at $236,583. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,046/mo property income against a $2,496/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1956
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 99223, Spokane, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,445 (100%) |
| Owner Occupied HU | 9,190 (59.5%) |
| Renter Occupied HU | 5,738 (37.2%) |
| Vacant Housing Units | 517 ( 3.3%) |
| Median Home Value | $545,036 |
| Average Home Value | $621,616 |
Housing Distribution
Address Breakdown
Residential
14,564
Single Family
11,355
Multi-Family
3,209
Businesses
708
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Listed by: Jon Biron • REAL Broker LLC
Mls Name: SMLS
Mls ID: #202523955