611 184th Street Ct E #48SpanawayWA98387
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who value predictability will appreciate 611 184th Street Ct E #48, Spanaway, WA, 98387 in Spanaway. At $499,950 it earns $3,497/mo in rent and distributes $492/mo to the owner after the $2,248/mo payment, a consistent 8.39% yield. DSCR 1.56 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $138,127 in value; $4,605/yr in principal paydown compounds ownership stake. Total projected return: $220,835.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 5.8% |
| Monthly Cash Flow | $492 | $1,250 |
City averages based on Spanaway market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,497 |
| Total Monthly Debt Service | $2,806 |
| DSCR Ratio | 1.25x |
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.
Single Family
Built in 2026
3,998 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98387, Spanaway, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,644 (100%) |
| Owner Occupied HU | 13,271 (75.2%) |
| Renter Occupied HU | 3,965 (22.5%) |
| Vacant Housing Units | 408 ( 2.3%) |
| Median Home Value | $526,528 |
| Average Home Value | $531,866 |
Housing Distribution
Address Breakdown
Residential
17,143
Single Family
16,837
Multi-Family
306
Businesses
643
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
Single Family
Built in 2026
3,998 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98387, Spanaway, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,644 (100%) |
| Owner Occupied HU | 13,271 (75.2%) |
| Renter Occupied HU | 3,965 (22.5%) |
| Vacant Housing Units | 408 ( 2.3%) |
| Median Home Value | $526,528 |
| Average Home Value | $531,866 |
Housing Distribution
Address Breakdown
Residential
17,143
Single Family
16,837
Multi-Family
306
Businesses
643
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Emily Whitney • KB Home Sales
Mls Name: NWMLS
Mls ID: #2456609