3231 W Boone Ave UNIT 118SpokaneWA99201
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeWhen a property's DSCR clears 1.5x, lenders and investors both pay attention. 3231 W Boone Ave UNIT 118, Spokane, WA, 99201 in Spokane achieves a 1.74 ratio at $115,000: $897/mo rent versus $517/mo debt service. Rental yield 9.36%. Ziffy Mortgage's no-W2 DSCR loan is purpose-built for assets like this. The 9.36% yield compounds alongside 5% annual appreciation projecting $31,772 in value. Total projected cumulative return: $21,443.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 4.2% |
| Monthly Cash Flow | $(383) | $485 |
City averages based on Spokane market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $897 |
| Total Monthly Debt Service | $1,235 |
| DSCR Ratio | 0.73x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Manufactured
Built in 1969
N/A lot
$N/A/sqft
$588 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 99201, Spokane, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,500 (100%) |
| Owner Occupied HU | 2,235 (23.5%) |
| Renter Occupied HU | 6,240 (65.7%) |
| Vacant Housing Units | 1,025 (10.8%) |
| Median Home Value | $343,053 |
| Average Home Value | $389,719 |
Housing Distribution
Address Breakdown
Residential
8,094
Single Family
4,266
Multi-Family
3,828
Businesses
1,825
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
Manufactured
Built in 1969
N/A lot
$N/A/sqft
$588 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 99201, Spokane, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,500 (100%) |
| Owner Occupied HU | 2,235 (23.5%) |
| Renter Occupied HU | 6,240 (65.7%) |
| Vacant Housing Units | 1,025 (10.8%) |
| Median Home Value | $343,053 |
| Average Home Value | $389,719 |
Housing Distribution
Address Breakdown
Residential
8,094
Single Family
4,266
Multi-Family
3,828
Businesses
1,825
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jacob Spencer • Coldwell Banker Tomlinson
Mls Name: SMLS
Mls Provider:
Mls ID: #202520051
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.