8943 Gravelly Lake Drive SW #2LakewoodWA98499
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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 Lakewood at 8943 Gravelly Lake Drive SW #2, Lakewood, WA, 98499 offers a 8.34% rental yield on a $350,000 purchase with $2,432/mo rent. Total monthly income registers $2,432/mo, and a $1,713/mo payment leaves $328/mo available for distribution. Annual cash flow reaches $3,938/yr on $116,025 to close, and return on cash invested stands at 23.3% in year one. Equity gained on principal adds $2,258/yr while 5% annual appreciation supports $96,699 over five years. Portfolio math shows five-year ROI at 120.83% and total cumulative return in cash at $140,198. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,432/mo property income against a $1,713/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2007
2,861 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 98499, Lakewood, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,378 (100%) |
| Owner Occupied HU | 5,198 (36.2%) |
| Renter Occupied HU | 8,456 (58.8%) |
| Vacant Housing Units | 724 ( 5.0%) |
| Median Home Value | $506,163 |
| Average Home Value | $545,017 |
Housing Distribution
Address Breakdown
Residential
13,307
Single Family
9,776
Multi-Family
3,531
Businesses
1,644
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Listed by: Eltah Brinson • Best Choice Network LLC
Mls Name: NWMLS
Mls ID: #2465724