32613 2nd Place S #213, Federal Way, WA, 98003 | $621/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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32613 2nd Place S #213, Federal Way, WA, 98003 | $621/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 32613 2nd Place S #213, Federal Way, WA, 98003 listed at $299,950 pairs $2,424/mo rent with a $1,468/mo payment to leave $621/mo cash flow. Total monthly income runs $2,424/mo, and annual cash flow reaches $7,453/yr on $99,433 cash to close. Return on cash invested measures 27.4% in year one, and rental yield registers 9.7% at a $299,950 basis. Equity gained on principal adds $1,936/yr, and annual property appreciation at 5% supports $82,871 by year five. Five-year ROI tracks 142.86% and total cumulative return in cash totals $142,052. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,424/mo property income relative to a $1,468/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Condo

Built in 1978

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome to this well-loved and livable Federal Way condo, offering an excellent opportunity for anyone wanting to refresh a space and build equity. The layout is functional & inviting, w/ a light-filled living area, two bedrooms each w/ walk-in closets, and a private balcony. The interior is mostly original and everything is in working order, giving buyers a solid starting point to update as they like. The one-car garage is a good size, room for parking plus extra storage. The location is incredibly convenient w/ quick access to freeways, transit, shopping, & restaurants. HOA dues include water, sewer, lawn service, cable TV, & common-area maintenance. A great match for buyers looking for value, potential, and a home they can personalize.

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