5308 245th Avenue NERedmondWA98053
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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
Rental property for sale in Redmond at 5308 245th Avenue NE, Redmond, WA, 98053 generates $5,080/mo in rent, after a $6,975/mo payment. Total monthly income is $5,080/mo. Return on cash invested sits at 11.31% in year one, and rental yield is 4.28% on a $1,425,000 entry. Equity gained on principal adds $9,195/yr, while 5% annual appreciation builds toward $393,701 over five years. Five-year ROI reaches 56.38% and total cumulative return in cash sums $260,324. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,080/mo property income rather than buyer’s personal income.
Single Family
Built in 1996
1.66 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98053, Redmond, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,369 (100%) |
| Owner Occupied HU | 6,812 (81.4%) |
| Renter Occupied HU | 1,344 (16.1%) |
| Vacant Housing Units | 213 ( 2.5%) |
| Median Home Value | $1,322,124 |
| Average Home Value | $1,377,100 |
Housing Distribution
Address Breakdown
Residential
8,382
Single Family
6,371
Multi-Family
2,011
Businesses
134
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Listed by: Manesh Lakhani • Real Broker LLC
Mls Name: NWMLS
Mls ID: #2407935