32603 4th Place S #23 E, Federal Way, WA, 98003 | $180/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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32603 4th Place S #23 E, Federal Way, WA, 98003 | $180/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Federal Way at 32603 4th Place S #23 E, Federal Way, WA, 98003 offers a 7.76% rental yield on a $399,950 purchase with $2,585/mo rent. Total monthly income registers $2,585/mo, and a $1,958/mo payment leaves $180/mo available for distribution. Annual cash flow reaches $2,165/yr on $132,583 to close, and return on cash invested stands at 21.54% in year one. Equity gained on principal adds $2,581/yr while 5% annual appreciation supports $110,499 over five years. Portfolio math shows five-year ROI at 111.37% and total cumulative return in cash at $147,660. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,585/mo property income against a $1,958/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1989

N/A lot

$N/A/sqft

No HOA

More details about the property

Beautiful and well maintained multilevel townhouse condo style, all three bedrooms and full bathroom are located in the upper level. Open kitchen concept and dining room with rear facing small balcony, living room with a wood burning fireplace, and half bathroom are located in the main level.The lower level has two big space garage for 2or 3 cars. New floor, new interior paint, HOA replaced siding in 2023, kitchen appliances has a few year old as well the carpet. Stairs and upper level has carpet, main level new vinyl floor, roof was replaced in 2007.Transit center and upcoming light rail station, shopping center and lots of restaurants , Common Mall, and two public libraries all nearby.

Neighborhood Data

Neighborhood data shown for ZIP Code: 98003, Federal Way, WA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	20,028 (100%)
Owner Occupied HU	9,192 (45.9%)
Renter Occupied HU	10,187 (50.9%)
Vacant Housing Units	649 ( 3.2%)
Median Home Value	$539,109
Average Home Value	$663,372