515 S 323rd Place #16-DFederal WayWA98003
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeMost investment properties struggle to clear the 1.25x DSCR minimum. 515 S 323rd Place #16-D, Federal Way, WA, 98003 in Federal Way clears it at 1.62, a meaningful distinction for the Ziffy Mortgage DSCR approval process. Rental yield 8.73%. Strong coverage makes approval clean and leaves room for vacancy without breaching underwriting thresholds. Five-year appreciation: $76,806; $2,560/yr in principal equity; total projected return: $127,864.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 4.5% |
| Monthly Cash Flow | $(252) | $285 |
City averages based on Federal Way market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,023 |
| Total Monthly Debt Service | $1,560 |
| DSCR Ratio | 1.30x |
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 1979
N/A lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
19,426
Single Family
12,485
Multi-Family
6,941
Businesses
1,833
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 1979
N/A lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
19,426
Single Family
12,485
Multi-Family
6,941
Businesses
1,833
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Ashley Goodman • Every Door Real Estate
Mls Name: NWMLS
Mls ID: #2479801