What property types generate the best cash flow in Spanaway?

Single-family rentals and multi-family properties both perform well, with multi-family units offering economies of scale. Military-connected tenants typically demonstrate stable, long-term occupancy, making both property types viable for consistent cash flow generation.

What is the typical cap rate for investment properties in Spanaway?

Cap rates in Spanaway typically range from 6% to 7%, reflecting the balance between affordable acquisition prices and steady rental income. Rates vary by property condition, location within the city, and proximity to JBLM.

Is Spanaway a good market for long-term appreciation?

Yes, Spanaway offers moderate long-term appreciation (3-4% annually) driven by regional employment growth, military presence, and proximity to expanding Tacoma-Seattle corridor. While appreciation is more modest than urban centers, it complements strong cash flow returns.

High Cash Flow Investment Properties for Sale in Spanaway, WA

Property at 8111 195th Street E UNIT 23, Spanaway, WA

3 Bed
2 Bath
1700 sft

8111 195th Street E UNIT 23, Spanaway, WA, 98387

Property at 19519 19th Avenue Ct E, Spanaway, WA

5 Bed
3 Bath
2944 sft

19519 19th Avenue Ct E, Spanaway, WA, 98387

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Why Invest in Spanaway, Washington?

Spanaway, WA offers compelling high cash flow opportunities for real estate investors seeking steady rental income and property appreciation. Located near Joint Base Lewis-McChord (JBLM), one of the region's largest employers, the area maintains strong tenant demand from military personnel and their families. With median listing prices around $520,000 and diverse property types ranging from single-family homes to multi-family units, investors can achieve competitive cap rates and rental yields. The market's proximity to Tacoma and Seattle provides growth potential while maintaining more affordable entry points than neighboring urban centers.

7.2%

Avg. ROI

5.8%

Rental Yield

6.5%

Cap Rate

$385/mo

Avg. Cash Flow

$2100/mo

Avg. Rent

3.4%

1Y Appreciation

Frequently Asked Questions

Spanaway's proximity to Joint Base Lewis-McChord creates consistent rental demand from military families and personnel. Combined with median listing prices around $520,000 and rental yields of 5-6%, investors can achieve strong monthly cash flow while maintaining reasonable property acquisition costs compared to Seattle or Tacoma.

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What property types generate the best cash flow in Spanaway?

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Is Spanaway a good market for long-term appreciation?

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