724 E 38th AvenueSpokaneWA99203
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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 Spokane at 724 E 38th Avenue, Spokane, WA, 99203 generates $2,208/mo in rent and, after a $1,737/mo payment, leaves $26/mo in cash flow. Total monthly income is $2,208/mo, and annual cash flow is $317/yr on $117,666 invested. Return on cash invested sits at 20.18% in year one, and rental yield is 7.46% on a $354,950 entry. Equity gained on principal adds $2,290/yr, while 5% annual appreciation builds toward $98,066 over five years. Five-year ROI reaches 104.24% and total cumulative return in cash sums $122,660. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,208/mo property income rather than buyer’s personal income.
Single Family
Built in 1937
6,250 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 99203, Spokane, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,294 (100%) |
| Owner Occupied HU | 6,839 (73.6%) |
| Renter Occupied HU | 1,973 (21.2%) |
| Vacant Housing Units | 482 ( 5.2%) |
| Median Home Value | $590,981 |
| Average Home Value | $661,266 |
Housing Distribution
Address Breakdown
Residential
9,284
Single Family
8,170
Multi-Family
1,114
Businesses
396
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Listed by: James Dressler • Dressler Real Estate Services
Mls Name: NWMLS
Mls Provider:
Mls ID: #2323640
Disclaimer: Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2025. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. 2025 NWMLS. All rights are reserved. Disclaimer: The information contained in this listing has not been verified by Zillow, Inc. and should be verified by the buyer. Some IDX listings have been excluded from this website.