638 Michael WayCamano IslandWA98282
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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 Camano Island at 638 Michael Way, Camano Island, WA, 98282 offers a 6.28% rental yield on a $849,000 purchase with $4,445/mo rent. 23% in year one. Equity gained on principal adds $5,478/yr while 5% annual appreciation supports $234,563 over five years. Portfolio math shows five-year ROI at 88.22% and total cumulative return in cash at $246,416. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,445/mo property income against a $4,155/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1987
2.53 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98282, Camano Island, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,290 (100%) |
| Owner Occupied HU | 6,973 (75.1%) |
| Renter Occupied HU | 783 ( 8.4%) |
| Vacant Housing Units | 1,534 (16.5%) |
| Median Home Value | $707,964 |
| Average Home Value | $776,745 |
Housing Distribution
Address Breakdown
Residential
8,154
Single Family
8,154
Multi-Family
0
Businesses
108
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Listed by: JP DeBoer • Windermere Real Estate/CIR
Mls Name: NWMLS
Mls ID: #2451700