31841 18th Avenue SW UNIT 35BFederal WayWA98023
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe 10.87% yield at 31841 18th Avenue SW UNIT 35B, Federal Way, WA, 98023 in Federal Way is solid, but the $1,207/mo payment compresses net cash flow to $174/mo at $268,450. 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 $74,168 by year five, and $2,472/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (2.01) without U.S. income documentation. Total projected return: $115,584.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.9% | 4.5% |
| Monthly Cash Flow | $174 | $285 |
City averages based on Federal Way market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,432 |
| Total Monthly Debt Service | $2,152 |
| DSCR Ratio | 1.13x |
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.
Townhouse
Built in 1978
N/A lot
$N/A/sqft
$645 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98023, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,083 (100%) |
| Owner Occupied HU | 11,696 (61.3%) |
| Renter Occupied HU | 6,783 (35.5%) |
| Vacant Housing Units | 604 ( 3.2%) |
| Median Home Value | $621,826 |
| Average Home Value | $711,004 |
Housing Distribution
Address Breakdown
Residential
18,049
Single Family
14,981
Multi-Family
3,068
Businesses
230
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
Townhouse
Built in 1978
N/A lot
$N/A/sqft
$645 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98023, Federal Way, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,083 (100%) |
| Owner Occupied HU | 11,696 (61.3%) |
| Renter Occupied HU | 6,783 (35.5%) |
| Vacant Housing Units | 604 ( 3.2%) |
| Median Home Value | $621,826 |
| Average Home Value | $711,004 |
Housing Distribution
Address Breakdown
Residential
18,049
Single Family
14,981
Multi-Family
3,068
Businesses
230
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices