497 Chinook WayLopez IslandWA98261
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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
Investment Highlights
Investment property for sale in Lopez Island at 497 Chinook Way, Lopez Island, WA, 98261 with 5% annual appreciation on a $715,000 basis while $2,761/mo rent supports operations. 22% in year one. Equity gained on principal adds $4,614/yr, and five-year appreciation sums $197,541 alongside rental yield of 4.63%. Five-year ROI measures 61.33% and total cumulative return in cash totals $144,273. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,761/mo property income versus a $3,500/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1991
0.55 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98261, Lopez Island, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,440 (100%) |
| Owner Occupied HU | 1,104 (45.2%) |
| Renter Occupied HU | 298 (12.2%) |
| Vacant Housing Units | 1,038 (42.5%) |
| Median Home Value | $837,209 |
| Average Home Value | $1,005,426 |
Housing Distribution
Address Breakdown
Residential
1,419
Single Family
1,403
Multi-Family
16
Businesses
193
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Listed by: DiAnn Sager • RE/MAX Gateway
Mls Name: NWMLS
Mls ID: #2430660