6715 3rd Way SEOlympiaWA98503
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 6715 3rd Way SE, Olympia, WA, 98503 in Olympia at $495,000 earns $3,112/mo in rent and nets $124/mo after the $2,226/mo payment, a 7.54% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $136,759 over five years. Ziffy Mortgage underwrites this on a 1.40 DSCR without U.S. credit history. With $4,559/yr in principal paydown, total projected return reaches $196,121.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.5% | 5.5% |
| Monthly Cash Flow | $124 | $1,850 |
City averages based on Olympia market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,112 |
| Total Monthly Debt Service | $2,779 |
| DSCR Ratio | 1.12x |
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 1996
8,341 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98503, Lacey, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,864 (100%) |
| Owner Occupied HU | 9,569 (53.6%) |
| Renter Occupied HU | 7,421 (41.5%) |
| Vacant Housing Units | 874 ( 4.9%) |
| Median Home Value | $489,421 |
| Average Home Value | $552,195 |
Housing Distribution
Address Breakdown
Residential
17,227
Single Family
14,773
Multi-Family
2,454
Businesses
707
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 1996
8,341 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98503, Lacey, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,864 (100%) |
| Owner Occupied HU | 9,569 (53.6%) |
| Renter Occupied HU | 7,421 (41.5%) |
| Vacant Housing Units | 874 ( 4.9%) |
| Median Home Value | $489,421 |
| Average Home Value | $552,195 |
Housing Distribution
Address Breakdown
Residential
17,227
Single Family
14,773
Multi-Family
2,454
Businesses
707
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Hanna Sandifer • Realty One Group Bold
Mls Name: NWMLS
Mls ID: #2475625