3568 Simmons Mill Court SW #BOlympiaWA98512
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 3568 Simmons Mill Court SW #B, Olympia, WA, 98512 in Olympia earns a 9.52% gross yield at $408,800. Rent of $3,242/mo nets $785/mo after the $1,838/mo mortgage. The 1.76 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $112,944 and $3,765/yr in equity accumulation project a total cumulative return of $205,207.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 5.5% |
| Monthly Cash Flow | $785 | $1,850 |
City averages based on Olympia market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,242 |
| Total Monthly Debt Service | $2,295 |
| DSCR Ratio | 1.41x |
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.
Condo
Built in 1998
4,011 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98512, Olympia, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,604 (100%) |
| Owner Occupied HU | 9,222 (67.8%) |
| Renter Occupied HU | 3,991 (29.3%) |
| Vacant Housing Units | 391 ( 2.9%) |
| Median Home Value | $566,641 |
| Average Home Value | $597,686 |
Housing Distribution
Address Breakdown
Residential
12,888
Single Family
11,031
Multi-Family
1,857
Businesses
506
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
Condo
Built in 1998
4,011 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98512, Olympia, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,604 (100%) |
| Owner Occupied HU | 9,222 (67.8%) |
| Renter Occupied HU | 3,991 (29.3%) |
| Vacant Housing Units | 391 ( 2.9%) |
| Median Home Value | $566,641 |
| Average Home Value | $597,686 |
Housing Distribution
Address Breakdown
Residential
12,888
Single Family
11,031
Multi-Family
1,857
Businesses
506
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lisa Lageschulte • RE/MAX Connect
Mls Name: NWMLS
Mls ID: #2430934